NEWS: Industry Veterans Launch Canopy

Residential due diligence is an area of the mortgage ecosystem that’s overdue for disruption, according to two industry veterans who want to offer something completely different in the due diligence space through their newly launched company, Canopy.

Canopy CEO John Levonick and COO Andrew DeGood, who cut their teeth at Clayton Holdings in the early 2000s, say that the tech used to perform due diligence today actually introduces friction into the process, especially down the line as loans are bought and sold multiple times. They’ve built Canopy on a cloud native platform with the goal of facilitating easier transactions and providing better data at a lower cost.

In a recent interview with HousingWire, Levonick explained what he thinks will differentiate Canopy from other due diligence providers.