HICKSVILLE, N.Y. and TROY, Mich., Aug. 4, 2023
/PRNewswire/ -- Flagstar Bank, N.A., a subsidiary of New York
Community Bancorp, Inc., today announced the four fintech graduates
who successfully completed its MortgageTech Accelerator program—the
first and only accelerator in the United
States solely dedicated to mortgage technology. The fintechs
graduated after final presentations closed out the three-month
program.
In seeking candidates for the accelerator, Flagstar looks for
fintechs working on breakthroughs in all facets of the mortgage
business, including mortgage origination and servicing, compliance,
secondary marketing, and fulfillment, as well as activities
performed under the Community Reinvestment Act. Among the criteria
for selection are company progress in product development,
prospects for growth, and potential for CRA impact.
The latest graduating class of fintechs included:
Housetable, New York, N.Y.
Landis, New York, N.Y.
Greenline.ai, San Francisco,
Calif.
Certo.ai, Washington, D.C.
Graduates benefit from a unique opportunity that includes
one-on-one interaction with senior members of Flagstar Bank's
mortgage leadership team, access to expertise, mentorship, and
coaching. Flagstar's team engages with the companies on topics such
as integrating technology, pricing strategies, and product
roadmaps.
"The mortgage accelerator has been tremendously successful for
Flagstar, helping us stay at the forefront of innovations in the
mortgage industry and deliver a better experience to our
customers," said Lee Smith,
President of Mortgage for Flagstar. The accelerator brings together
Flagstar's knowledge of mortgage banking and marries it with
ground-breaking mortgage technologies developed by up-and-coming
fintechs. It's a win-win all around."
"The MortgageTech Accelerator was a unique opportunity to
connect with Flagstar's leadership in sectors like retail mortgage,
capital markets, third-party origination, marketing, and beyond,"
said David Benizri, CEO and
co-founder of Housetable. "Through hands-on experience, we were
able to enhance our suite of products and gain insights into the
dynamics of a leading mortgage originator and large-scale bank, all
of which helped us better tailor our services as a strategic
vendor."
"We are excited to have built a relationship with the Flagstar
team to tackle the most pressing issues in the housing industry,"
said Cyril Berdugo, CEO of Landis.
"This collaboration has been invaluable in making homeownership
more accessible and affordable through our process to transition
clients seamlessly from renting to owning a home. We are grateful
for Flagstar's support of our journey toward a more inclusive and
equitable housing ecosystem."
"Flagstar has been the ideal launch pad for Greenline ai," said
Daniel Hayes, CEO of Greenline.
"Through its MortgageTech Accelerator we found the best
expertise, support, and industry network imaginable. The team has
been a tremendous partner, and we're excited to continue to build
our working relationship with Flagstar and its third-party
originator channel."
"Thanks to the collaboration of Flagstar's leadership team, we
were able to apply our data and automated technology to real-world
cases Flagstar experiences today," said Gene Swanzey, co-founder of Certo/ai. "That
helped us prove our thesis that our artificial intelligence toolkit
can deliver processing solutions across the mortgage ecosystem from
underwriting to customer service to secondary marketing and
beyond." Brad Davis, also a
co-founder, added, "We could not be more thankful for being
selected to participate in the MortgageTech Accelerator and are
thrilled with the doors it has opened for us."
Past alums that have continued to grow and innovate since
participating in the program include Stavvy, OrangeGrid, Brace,
Calque, CredEvolv, and Home Lending Pal. Their experience has led
to additional partnership opportunities with Flagstar
post-accelerator. Flagstar plans to launch its fifth accelerator
program in early 2024. Fintechs engaged in mortgage tech
innovations interested in participating may email Ashwin Mago, Flagstar's director of Mortgage
Digital and MIS, at ashwin.mago@flagstar.com.
About New York Community Bancorp, Inc.
New York
Community Bancorp, Inc. is the parent company of Flagstar Bank,
N.A., one of the largest regional banks in the country. The Company
is headquartered in Hicksville, New
York with regional headquarters in Troy, Michigan. At June 30, 2023, the
Company had $118.8 billion of assets,
$84.9 billion of loans, deposits of
$88.5 billion, and total
stockholders' equity of $11.1 billion.
Flagstar Bank, N.A. operates 436 branches, including strong
footholds in the Northeast and Midwest and exposure to high growth
markets in the Southeast and West Coast. Flagstar Mortgage operates
nationally through a wholesale network of approximately 3,000
third-party mortgage originators. In addition, the Bank has 127
private banking teams located in over 10 cities in the metropolitan
New York City region and on the
West Coast, which serve the needs of high-net worth individuals and
their businesses.
New York Community Bancorp, Inc. has market-leading positions in
several national businesses, including multi-family lending,
mortgage origination and servicing, and warehouse lending. The
Company is the second-largest multi-family portfolio lender in the
country and the leading multi-family portfolio lender in the
New York City market area, where
it specializes in rent-regulated, non-luxury apartment buildings.
Flagstar Mortgage is the 8th largest bank originator of residential
mortgages for the 12-months ending June 30,
2023, while we are the industry's 5th largest sub-servicer
of mortgage loans nationwide, servicing 1.6 million accounts with
$426 billion in unpaid principal
balances. Additionally, the Company is the 2nd largest mortgage
warehouse lender nationally based on total commitments.
Investor
Contact:
|
Salvatore J.
DiMartino
(516) 683-4286
|
|
|
Media
Contact:
|
Susan Bergesen
(248) 312-6237
|
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SOURCE New York Community Bancorp, Inc.