e-Cognita Joins the Mortgage Industry

BIRMINGHAM, MI—A new real estate lending software company, e-Cognita Technologies Inc., opened for business recently in Birmingham, MI, to target the commercial real estate mortgage industry with products for loan underwriting, closing and documentation using the Internet. The company’s suite of browser-based programs permits Web collaboration by all parties to a complex financial transaction through a single data source.

“Our products were developed by lenders and lawyers, for use by lenders and lawyers,” says Katheryne L. Zelenock, e-Cognita’s president and CEO. “[It] provides a means to fully underwrite and close the loans, communicate with and integrate all of the due diligence parties necessary to close a loan.”

As part of their development process, e-Cognita’s products have been used to close more than $1 billion of commercial real estate loans. “We’ve been able to automate more than half of the tasks on both the legal and lending sides,” says Daniel Bober, president of Bloomfield Acceptance Co. and co-chairman of e-Cognita.

e-Cognita was founded by Bober, Zelenock and James A. Simpson. The company was financed with more than $2 million in seed capital and has begun actively raising venture capital to finance further expansion this year. Zelenock is an attorney specializing in real estate and commercial finance, mergers and acquisitions, corporate counseling, and commercial litigation. Simpson, who also serves as co-chairman, represents lenders and borrowers in connection with commercial and mortgage loans.