TRUE Announces Strong Business Results and Hires Global Payment Executive Rob Brooks as Chief Technology Officer

NEW YORK--(BUSINESS WIRE)--TRUE, the leader in lending intelligence, announced today calendar 2024 Growth of 66% in Annual Recurring Revenue over 2023, despite a challenging mortgage lending market. TRUE saw strong performance in all its mortgage segments – including origination, mortgage insurance, servicing, and secondary markets - driven by its industry-leading solutions for extracting document and loan intelligence with little to no human review required.

In 2024, TRUE also added generative AI technology to its industry leading solutions to achieve unprecedented levels of automation and introduced its Mortgage Operations Service (MOS), a set of interoperable, AI powered services that together provide lenders instant borrower intelligence for fast lending.

To continue building on its success in 2024, TRUE has strengthened its management team through the addition of multiple hires with deep enterprise level technology experience. Rob Brooks, formerly CTO, Mineraltree and VP Engineering and Operations at Global Payments, has joined TRUE as Chief Technology Officer. At Mineraltree and Global Payments (which acquired Mineraltree), Rob led the global development of the leading mid-market AP automation platform that provided high availability, full Cloud SaaS, and processed more than $50B in payables per year. Rob will be responsible for driving continued innovation for the MOS to enhance its capabilities, delivery options, and security profile, while achieving world class quality assurance.

“Rob’s experience in building platforms that become the industry standard is perfect for TRUE. Our MOS platform is the mortgage industry’s only platform that drives early decisioning and much faster lending through instant borrower intelligence. In 2025, AI-powered lending will deliver a significantly better borrower experience, resulting in borrowers gravitating to lenders that provide faster closings and a more transparent experience. A few tech-savvy, heavy spending lenders are already there, and the rest of the industry will need to keep pace or risk disruption. The MOS platform enables all lenders to make earlier decisions and lend much faster,” said Steve Butler, President at TRUE.

“TRUE continues to drive transformation and innovation in lending intelligence. We welcome our new team members who have joined TRUE to help realize this exciting vision of the future,” said Kevin Bhatt, Board Director at TRUE and Managing Partner at Long Ridge Equity Partners, the company’s lead institutional investor. “We look forward to working with the entire team at TRUE as they continue their drive to transform the mortgage lending industry.”

As the mortgage lending industry continues to embrace AI and automation in 2025, TRUE and its Mortgage Operations Service (MOS) will help lenders move toward instant decisioning for their borrowers, while growing efficiencies across their mortgage operations.

To learn more about the TRUE, visit the TRUE website at: https://www.true.ai

About TRUE

TRUE is a software solutions company and AI lab that helps lenders harness the power of artificial intelligence to rapidly process lending data and accelerate lending decisions. Since 2017, our technology has set the industry standard for intelligent lending technology, delivering results that provide a true competitive advantage. Every day, lenders across the industry use TRUE to increase their revenue, reduce risk, and deliver a truly exceptional experience to their customers.

Learn more at www.true.ai.