First-of-its-kind solution will allow financial institutions to scale and enter new markets
Denver, CO, May 26, 2022— Maxwell, the leading fintech solutions platform for mortgage providers, today announced the launch of Maxwell Private Label Origination, a new “mortgage-as-a-service” solution designed to enable new and expanding financial institutions to enter the mortgage market.
Maxwell Private Label Origination provides the infrastructure financial service providers, such as banks, credit unions, neobanks, and real estate agencies, need to launch and scale mortgage operations. Providing lending licenses across the nation, automation technology, experienced mortgage talent, and capital market access, Maxwell Private Label Origination enables these institutions to offer borrowers a fully-branded, frictionless mortgage experience. In addition, it grants flexibility for existing lenders to quickly launch new channels, such as wholesale or direct-to-consumer, or specialty products, such as HELOCs and Non-QM, to access growth in a market set to reach $2.6 trillion in 2022.
This solution comes at a crucial time for the U.S. housing market. Homeownership remains the largest driver of generational wealth, yet more than 60 million Americans struggle to secure traditional mortgage loans. Expanding and emerging lenders play an increasingly critical role in providing people across the country access to essential financial services.
“By expanding market access and empowering financial institutions to offer new mortgage products as a part of their businesses, Maxwell Private Label Origination will democratize access to homeownership in the U.S.” said John Paasonen, CEO & Co-founder of Maxwell. “All of our tech-enabled solutions are designed to help the lenders serving America’s communities save time, scale, and grow margin. With this solution, current and future lenders can bring scalable, first-class operations to market without the price tag and long build time of doing it themselves.”
New and expanding financial institutions have the relationships and data to transform access to homeownership. However, rising loan costs, increased regulatory oversight, and inflation have prevented many from offering mortgage services. Maxwell Private Label Origination allows institutions to overcome these challenges and expand their product offerings without the headaches of building all the required infrastructure and expertise. By injecting transparency, equity, and efficiency into the entire mortgage process, Maxwell helps lenders to boost margins and provide mortgages to a wide range of borrowers.
Currently partnering with more than 300 lenders across the U.S., Maxwell has facilitated over $175 billion in loan volume to date. Built by an integrated team of software engineers and mortgage professionals, Maxwell streamlines the entire mortgage process, from loan application to the secondary markets, helping lenders to outperform the market by over 15%. Private Label Origination expands on Maxwell’s existing set of fintech solutions to meet the needs of businesses entering mortgage lending as well as existing mortgage lenders looking to expand into new channels and products.
Maxwell’s Mortgage Optimization Platform provides America’s local lenders with forward-looking technology and solutions for the entire mortgage origination process, from intake of application to the secondary market. Backed by industry expertise, Maxwell’s comprehensive offerings help lenders stay ahead of the competition while improving their workflow and margins. Each day, Maxwell empowers over 300 mortgage lenders, banks, and credit unions to serve tens of thousands of homebuyers a modern lending experience. Lenders on Maxwell close loans 13 days faster and enable their loan officers to close over 15% more loans per month.
Founded in 2015, Maxwell is a member of the Mortgage Bankers Association and is built in Denver, Colorado. Since 2017, it has been named one of the most innovative companies in real estate by HousingWire Magazine and recently ranked as the 15th fastest-growing software company in the U.S. on the Inc. 5000 list.