Maxwell in Top 15% of Inc. 5000 List for Third Year Running
Between rapidly rising interest rates, economic uncertainty, and untamed inflation, the last few years have been anything but easy. These challenges make our inclusion on the Inc. 5000 list for the third consecutive year all the more rewarding: Through unpredictability, we’ve been able to offer lenders a financial advantage to help them weather the storm. Our ranking as the 17th fastest growing company in Colorado and 658th fastest growing company in the U.S. validates the work we’ve put into building solutions and services that add efficiency and save costs at each step of the mortgage origination process.
Adding measurable value in the face of market headwinds
Over the past year, we’ve strived to position Maxwell as a strong partner to our customers. We’ve done this by building and enhancing solutions and features that support efficiency and expand business opportunities, helping lenders find creative ways to pursue revenue despite lacking loan volume. Last summer, for instance, we launched Maxwell Private Label Origination, which combines our existing set of products—including digital mortgage software, fulfillment solutions, and secondary market capital—plus more to enable lenders to scale operations and expand their footprint in the mortgage market. Acting as an all-in-one solution, Maxwell Private Label Origination provides modern software and infrastructure to power profitable and scalable mortgages, freeing lending teams to focus on sales and growth.
Similarly, by acquiring LenderSelect Mortgage Group (LSMG) in May, we enhanced our ability to help lenders compete, in this case through better access to a unique variety of loan products. Enabling a significant expansion of Maxwell Capital, our secondary market trading platform, this acquisition further allows lenders to focus on building relationships with their borrowers while minimizing overhead costs.
Throughout market ups and downs, our team has remained focused on arming lenders on our platform to outperform the market. This dedication has paid off: As loan volumes were down 50-60% across the industry in Q1 per Fannie Mae data, overall volume on our platform increased by 11% YoY.
Technology and services built for the future of mortgage lending
Looking forward to the remainder of 2023 and beyond, we’re excited to continue honing our technology to improve lender efficiency while allowing mortgage professionals to focus on finding new leads, expanding business streams, and offering their customers a high-quality mortgage experience. Specifically, we’re digging into new possibilities posed by artificial intelligence in the mortgage industry, recently releasing an AI-driven feature that automatically creates letters of explanation on behalf of borrowers. Especially for first-time buyers who are often intimidated by the task of writing a letter of explanation, this feature removes the burden from the borrower and helps to speed up the process for the lender.
We believe that functionalities like these, driven by leading technology and thoughtfully applied AI, will be key to lender viability, whether challenging conditions persist or the market begins to turn a corner. As the market and industry continue to evolve, we can’t wait to leverage the forward-thinking innovation that landed us on the Inc. 5000 list to help lenders stay ahead, compete, and succeed.
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