Last month, Flagstar Bank completed its second accelerator program, which is focused exclusively on mortgage technology. Flagstar made the initial announcement about the companies chosen to participate back in December.
As part of the program, cohort members receive:
- Access to mentors with deep industry and technical experience
- Bespoke program design based on current and immediate needs
- Ability to test product/solution in a real-world controlled environment
- Access to a wide network of potential customers and investors
The three companies Flagstar chose for this year’s program are:
Home Lending Pal, based in Miami, Fla., uses chatbots, machine learning, and blockchain to help first-time homebuyers through the home research and buying process. Home Lending Pal’s business model differs from that of typical marketplaces in that it connects to trusted digital sources to validate underwriting information earlier in the process for potential borrowers.
Stavvy is a Boston, Mass., venture-backed financial technology company that designs platforms to manage security risk, eliminate fragmentation, and increase speed and transparency in real estate transactions. The company’s mission is to create efficiency and security in the consumer/mortgage lending life cycle.
RealKey, based in San Francisco, is a provider of digital mortgage technologies that enable bank and non-bank mortgage loan originators (MLOs) to streamline the mortgage processing experience for borrowers. The platform automates the document collection, verification, and review proces and provides centralized communication for all parties.
The program ended on February 4.