Aklero Process Solutions, Inc., a Pennsylvania-based provider of data and document validity assurance for the mortgage industry, announced Monday that it has hired mortgage industry veteran Brian K. Fitzpatrick as its new president and CEO.

The company explained that Fitzpatrick was tapped to further advance Aklero’s solutions into the national mortgage banking marketplace, and to help tackle document deficiencies and restore investor confidence in mortgage lending.

Fitzpatrick brings a strong background in executive level positions within the mortgage technology industry and is a recognized authority in the field of mortgage technology solutions.

Most recently, he was president of Lydian Technology Group and was an EVP of Lydian Data Services. His previous roles include president of WellFound Decade Corporation and CEO of Decade Systems Corporation. He has also held senior executive positions at GHR Systems and Electronic Data Systems Corporation (EDS).

“In today’s environment, mortgage lenders are subject to increased oversight by regulators and heightened demands for accountability by investors,” Fitzpatrick said. “As a result, lenders are increasing the level of scrutiny of both pre- and post-closing audits to increase their chances of first purchase success and prevent buy-backs and resultant losses. At the same time, lenders are struggling to do more volume with less staff.

According to Fitzpatrick, Aklero’s platform enables lenders to greatly increase the number of reviewed files per person by automating the review of loan files and the thousands of data elements contained in them.

Aklero says its automated loan deficiency detection solution prevents costly loan buy-backs due to insufficient loan documentation, while at the same time speeding up pre-closing and post-closing audit activities and reducing the interest costs from warehouse lines.