CondoTek makes key move

For her part, Geloso expressed gratification at being appointed to the new role.

“I am deeply honored to lead CondoTek’s product development during an important time for both the company and the lending industry,” Geloso said. “Our cost effective, best-in-class automation combined with the incredible talent and passion of the CondoTek team give us a unique opportunity to shape the future of condo and co-op lending.”

CondoTek officials said the company continues to expand on its strong foundation of product offerings after acquiring National Condo Advisors in the fourth quarter of 2021. The company is planning additional integration releases throughout 2022, all designed to create a comprehensive, streamlined user experience for mortgage lenders that originate and underwrite loans for condos and co-ops.

CondoTek is a technology, information and consulting firm that provides mortgage lenders with regulatory guidance, project approvals and access to products and services for approving, originating and underwriting loans for condominium and co-op properties. CondoTek’s automated offerings enable mid- to large-sized lenders and other financial institutions and real estate companies to enhance their operational efficiencies and streamline the condo and co-op financing and investment process. CondoTek was founded in 2013 and operates in all 50 states.

MPA profiled CondoTek earlier this month, showcasing the technology firm’s carving out of a solid niche in the mortgage space without the need to avail itself of venture capital. Founded by CEO Asher Kahn and his brother, CTO Joshua Kahn, CondoTek is also poised for an expansion, and, significantly, the company hasn’t raised any venture capital since its 2014 launch in order to get to this point.