Connected Mortgage Technology: Introducing Maxwell’s API & Connected Apps Platform

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 the new technology make things easier and more efficient, but it also connected to the other adjacent tools or services that you already use. Great technology connects and integrates to solve your fundamental problems without forcing itself on you or disrupting your workflows.

At Maxwell, we believe that mortgage technology needs to be great. Any new software that you introduce into your organization needs to connect with the tools and services that you already find valuable and those that bring efficiencies into your work. When you trust a piece of software that removes one additional manual task or eliminates dual data entry, it is supposed to significantly impact profitability. But if that piece of software runs in a silo or does not have a path to connect and integrate into other powerful business applications, it will unlikely make a dent in your productivity.

We understand the need for a mortgage company to integrate their technology solutions. It’s one of the biggest questions we get asked from our customers: how do I get my business applications and experiences to work together? It’s a question that we ask every day of our technology peers in the industry too.

That’s why last week we unveiled our new Connected Apps platform along with our API at the Mortgage Bankers Association National Technology Conference. The Connected Apps platform makes it seamless for mortgage lenders, loan officers and processors to connect Maxwell to a growing list of applications and experiences for their needs.

Here are a few examples of integrations that our customers can turn on today:

  • The Work Number®: Initiate verification of income and verification of employment from Maxwell, with the option for automatic waterfall to research verification. Available for existing customers of The Work Number, Maxwell automatically collects borrower consent and employment verification details in the platform, speeding up the verification process.
  • FileFetch™: Connect your borrowers to thousands of financial institutions to enable them to sync W2s, paystubs, bank statements, and tax returns directly from the source. These are the actual PDFs, not generated from raw data, so they are useful regardless of your lender; available as a premium integration.
  • InsureDocs: With launch partners LemonadeMatic Insurance and Hippo Insurance, you can enable your borrowers to have the policy declaration pages delivered automatically — sometimes within seconds — right to the Document Vault. Of course, borrowers always have the option to provide their own declaration page. InsureDocs is available to all users for free.
  • SmartTransactions: For every authorized and connected bank accounts by your borrower, automatically analyze the last few months of transactions to identify large and/or out-of-order deposits that may need additional explanation. SmartTransactions is available to all Maxwell customers for free.

And we’re excited for additional applications and experiences launching very soon:

  • LOS Connect: One-click transfer of borrower documents to/from your LOS and automatic update of loan status and loan application import. LOS Connect will be available for pre-integrated LOS partners shortly with theability to leverage the Maxwell API with non-supported LOS software; Maxwell does not charge for this service, but fees may be assessed by your LOS.
  • Equifax Tax Verification: Execute a 4506T request within Maxwell, including e-signature from the borrower, to have the tax transcript delivered into the Document Vault. This integration will be available for existing customers of Equifax.

And, of course, we’ll be taking wraps off soon on a long list of new applications and experiences you can select right within Maxwell. We’ll also be inviting developers to leverage our API to build useful applications that can connect to and build from Maxwell.

The experiences available on the Connected Apps platform have one goal: to improve your productivity. That means decreasing the time it takes to close a loan and increasing the satisfaction of your clients.

Our mission at Maxwell is to help you provide a delightful mortgage experience to you and your customers. We create software to reduce errors and remove inefficiencies, and also leveraging the power of connections with other services so that you can achieve productivity across your entire workflow. We will not be satisfied by just good mortgage technology — we want mortgage software to be great.

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