Peter Karmanos Jr.
Peter Karmanos Jr., co-founder and former CEO of Compuware, is getting into the mortgage business.
JC Reindl of the Detroit Free Press reports that Karmanos, 73, who launched a tech company in Birmingham in 2014, MadDog Technology, i has a new start-up company, Lenderful, which offers home mortgages through the Internet.
"He's not the kind of guy who wants his feet to be standing still," Harry Glanz, co-founder of Southfield-based Capital Mortgage Funding, tells the Freep.
The Freep reports:
Based in downtown Birmingham, Lenderful markets itself as an all-online mortgage platform that, on the surface, looks not unlike the Rocket Mortgage service introduced late last year by Detroit-based Quicken Loans, the Internet-lending pioneer started by businessman Dan Gilbert.
The company website promotes mortgages as: "Smart. Easy. Online."
Karmanos is a minority investor in Deadline Detroit.
