Customer Story
Knock leverages Maxwell Fulfillment’s flexible processing services to power its innovative lending solutions
Knock’s first-of-its-kind bridge loan, the Knock Bridge Loan, unlocks homeowners to buy before they sell. By removing prior mortgage from new mortgage calculations, it alleviates the stress of a tight buying and selling timeline and gives borrowers a strong advantage in today’s competitive market. Knock partners with lenders and agents to provide more certainty, convenience, and competitiveness along with cash flow.
To help power its offerings, Knock leverages Maxwell Fulfillment. By accessing Maxwell Fulfillment’s scalable, outsourced resources, Knock is able to increase its loan processing capacity without adding fixed costs, helping it better serve home buyers with its unique products.
How Maxwell helps Knock
Goal
Access on-demand processing resources without the hassle and time related to hiring full-time employees
Goal
Gain vetted, experienced talent with flexible capacity
Goal
Work with a forward-thinking provider invested in a transparent, communicative partnership
Solution
Knock uses Maxwell Fulfillment to augment its internal team with onshore processing talent. Acting as an extension of Knock, Maxwell processing staff carries a full pipeline and stays up-to-date on the ins and outs of Knock’s unique bridge loan product. With added capacity that scales according to its needs, the Knock team is able to focus on building the business and introducing its innovative offerings to more home buyer markets.
Jamie Glenn
Co-founder & COO, Knock
“Knock is committed to supporting homeownership within America’s communities no matter the market challenges—and Maxwell Fulfillment’s flexible services help us in that mission.”
—Jamie Glenn, Knock Co-founder & COO
Knock came to fruition in 2015, with a mission to “build a bridge” in a way that works for buyers, sellers, agents, and lenders. Recognizing that many home buyers find the traditional process of selling before buying to be cumbersome, challenging, and complex, Knock set out to change that reality. As a result, the company introduced loan products built for modern home buyers, including its Knock Bridge Loan.
Knock has set itself apart as a provider of innovative lending solutions that enable homeownership even in challenging housing markets. Today, amid scarce inventory, many home buyers struggle to find a suitable property to buy—and when they do, they feel pressure to make a competitive offer, often while juggling the sale of an existing home. Knock solves for those stressors by giving borrowers the ability to leverage the equity in their current house while powering a strong offer towards a new home.
“Because our products allow buyers to take the equity from their departing residence and apply it for down payment and closing costs on their new property, they help to avoid a contingent offer—which a seller may be less likely to accept in the current market,” explains Jen Strain, Head of Lending. “Knock’s goal is to make home buying and selling less intimidating and more achievable for everyday home buyers, and creating strong offers through creative loan options helps us to achieve that goal.”
Flexible, on-demand processing resources
As Knock has grown to serve home buyer demand over the past several years, it has sought to adjust its fulfillment operations to meet fluctuations. Like many lending companies, Knock confronted challenges during the unprecedented highs and lows of the mortgage market in the aftermath of COVID-19. Wild variations made gauging internal staffing levels difficult, forcing Knock to explore alternative options.
While searching for providers that offered high-quality, flexible fulfillment resources, Knock came across Maxwell Fulfillment’s 100% onshore processing talent. With an average of over 11 years of experience across multiple loan types, Maxwell processors are quick to get up to speed on individual lending systems and operations while ensuring fast, accurate results.
“We needed processing resources, but didn’t want to go through the hassle of opening a position, interviewing and screening candidates, and all of the steps related to an internal hire,” recounts Jen. “Maxwell Fulfillment had already done all of that, bringing us a vetted talent pool that was essentially plug and play.”
Within weeks, Maxwell Fulfillment’s processing talent was trained and quickly began building up pipeline to carry full capacity. At a time when Knock needed on-demand resources, Maxwell was able to provide expertise without the burden of added fixed costs.
“From knowledge of loan products to everyday team interactions, Maxwell’s processing talent truly acts as an extension of Knock,” Jen comments.
Partnering for growth despite market challenges
Beyond creating additional capacity, Maxwell has also become a trusted partner to the Knock team. From the beginning, Maxwell and Knock stakeholders have met regularly to talk through issues, progress, and goals. Crucially, Knock has found that the Maxwell team aligns with its culture of transparency and open communication.
“From a customer support standpoint, it’s been great,” reports Jen. “Everyone’s open to feedback—if something isn’t working, we talk through it before it becomes a bigger problem.”
To enable more home buyers to benefit from its loan products, Knock has actively been expanding into new markets through its growing lender partner network. The premise is simple: Lenders facilitate the purchase transaction, while Knock facilitates the bridge loan—enabling the lender to enhance their available loan options with the addition of the Knock Bridge Loan financing.
“We’re thrilled to serve more home buyers with our innovative loan products through our growing lender partnership program,” says Jamie Glenn, Knock Co-founder and COO. “Real estate agents enjoy these products because they’re able to work the buy and sell side, loan officers find value in having something new in their pocket to offer, and everyone benefits from getting to the closing table faster.”
As Knock continues to expand its reach, Maxwell Fulfillment will serve as an integral piece of the back-end operations that power its one-of-a-kind offerings. Because Maxwell’s processing services scale to meet fluctuating demand, they help lenders like Knock seamlessly react to changing market conditions, supporting agility and allowing strategy to shift towards opportunities as they arise.
“Lenders today realize it’s vital to stay nimble, anticipating the changing market and the evolving needs of home buyers,” comments Jamie. “Knock is committed to supporting homeownership within America’s communities no matter the market challenges—and Maxwell Fulfillment’s flexible services help us in that mission.”
Want to learn how Maxwell Fulfillment can add capacity without fixed costs? Click here to schedule a call with our team.
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