In 2015, one of my co-founders and I spent hours with hundreds of people in the mortgage industry. We had both recently gotten mortgages — in my case, it took 63 days to close a purchase transaction. Coming from the technology world, I was shocked at the relative lack of automation and technology adoption. We… Read more »
To fuel growth and market advantage, you need the right people. In many ways this has become one of the key dimensions of competition in the mortgage industry today. The most recent STRATMOR Group data on originator turnover found 30% annual turnover among residential mortgage originators — that means that for every 10 people you… Read more »
As innovators rapidly enter the mortgage industry, there is a question that lingers in the mind of every originator, processor and underwriter: “Will a machine replace me?” Many of the Silicon Valley startups that splash the Wall St. Journal headlines believe that loan officers, processors, and underwriters will disappear. SoFi has proudly proclaimed that their… Read more »
A month ago, we launched our beta integration with LendingQB, one of the leading loan origination systems. And today I’m delighted to announce the official roll-out. The LOS is a mission-critical system for most lenders, managing their internal workflows and ensuring compliance with federal and state regulation. LendingQB has a market-leading API that enables partners,… Read more »
A month ago we announced our partnership with Equifax® to provide Maxwell customers and their borrowers a faster, more seamless experience, beginning with an automated employment and income verification through The Work Number®. Equifax is one of our launch partners for our newly released “Connected Apps” platform built on our API, enabling lenders to customize the… Read more »
Let’s face it: the mortgage industry suffers from a people problem. Mortgage professionals are doing tasks best suited for technology. And technology is being deployed that extricates the professionals from tasks at which they would excel. At most mortgage companies, the average professional will have no less than 10 applications or browser tabs open simultaneously.… Read more »
Think of the last time you came across a new technology that helped you to do something more easily and efficiently. If it was bad technology, it barely made things any easier, maybe even worse. If it was good technology, it did make things easier and efficient, but that’s where it stopped. However, if it was great technology, not only did… Read more »
Earlier today, we announced that we’ve closed $1.95M for Maxwell, with a seed round led by MATH Venture Partners with participation from Techstars Ventures, Sovereign’s Capital, Zelkova Ventures, Cantos Ventures and Timberline, along with an elite group of angels. As significant of a milestone this is for Maxwell, it really just signifies the beginning. Most of… Read more »