Maxwell Honored as 2023 HousingWire Tech100 Winner
We’re thrilled to announce that for the seventh consecutive year, Maxwell has been recognized as a HW Tech100 winner by HousingWire. HousingWire’s Tech100 program honors the most innovative technology companies within mortgage and real estate.
This year’s Tech100 Mortgage winners are helping to innovate the mortgage process from origination to closing and servicing to secondary markets. These companies focus on building technology and solutions that transform the way homes are bought, sold, and financed.
“As someone who had a front-row seat to watch the housing economy’s tech transformation, I am
increasingly in awe of the innovation we have seen from the Tech100 winners year after year,” HW Media Editor in Chief Sarah Wheeler said. “With new technologies emerging every day, I am proud to be part of this exciting journey that has positioned the industry to be more efficient, more transparent and more accessible than ever before.”
Solutions to empower profitable lending, even in down cycles
The past several years have shown how volatile the mortgage market can be, with many lenders suffering layoffs or being forced to close their doors. Throughout the challenges of 2022, we worked to provide real value in the form of faster time to close, cost savings, and economies of scale, allowing local lenders to maintain their margins and thrive. We’ve done this by continuing to grow and enhance our suite of solutions to address each step of the mortgage process.
Today, we serve lenders on our platform across several key verticals: point-of-sale technology, processing workflow technology, fulfillment and diligence solutions, and secondary market capital.
- In 2022, we launched several technology-driven solutions aimed at expanding access to mortgages: Introduced in May 2022, Maxwell Private Label Origination provides the infrastructure financial service providers need to launch and scale mortgage operations.
- Launched in July 2022, our Spanish language loan app is a bilingual option for mortgage applications, to allow lenders to better serve the growing Hispanic American market and dramatically improve access and user experience for Hispanic Americans with limited English proficiency (LEP).
- Finally, launched in November 2022, Maxwell Capital Correspondent provides an all-in-one secondary market platform for loan selling and purchasing with the aim to provide lenders access to more liquidity and diversify their loan products.
Technology and solutions built for today’s market
Together, these new solutions give lenders the agility, scale, and efficiency they need to compete with the industry’s largest players.
In an industry facing margin challenges, layoffs, and low consumer demand, Maxwell technology helps lenders close loans 13+ days faster while saving 21 BPS in costs per loan. Loan officers on the platform close an average of 15% more loans per month, and processors see 10% fewer resubmissions. These account for real-time margin and efficiency-saving optimizations for America’s lenders, allowing them to continue to serve their communities and expand access to homeownership.