Home >> Daily Dose >> Inaugural Award Announced for Fintech Innovation
Print This Post Print This Post

Inaugural Award Announced for Fintech Innovation

The needs of the American homebuyer are changings. Consumers seek faster response times, efficient processes, and technology that makes the overall homebuying process easier. 

Highlighting companies leading a wave of change, MReport is proud to launch the inaugural Top 25 Fintech Innovators—companies leveraging technology in housing from property management, operations, lending, and more. 

The Top 25 Fintech Innovators will be chosen from companies nominated by industry professionals working daily to push the industry forward. 

Want to nominate a company? Submit your nomination here.

Below are the categories for nominations: 

  • Lending/Loan Origination 
  • Loan Servicing 
  • Regulatory and Compliance 
  • Property/Asset Management 
  • Title/Insurance 
  • Operations 

The deadline to submit nominations for the Top 25 Fintech Innovators is 5 p.m. CST on Monday, February 3. 

The final Top 25 Fintech Innovators list will be released in the March 2020 issue of MReport.

Jennifer McGuinness, Co-Founder and Managing Partner of Strategic Venture Partners, told MReport during an interview at the 2019 Five Star Conference that the lifecycle of origination needs to be optimized through technology. 

“The technology solutions that are going to bring the best benefit to the businesses are going to be those that manufacture things more efficiently, cut timelines, and risk-insulate process flows to optimize outcomes,” she said. “At the end of the day, it’ll actually save the companies a vast array of money and compliance issues.”

McGuinness added that the more the industry digitizes the mortgage experience, the more fraud insulation there will be. She suggested that these changes will bring better underwriter outcomes and shorter timelines for lenders, which will in turn bring more closed loans and more revenue—a benefit for both the borrower and investor.

Fannie Mae’s Mortgage Lender Sentiment Survey from November 2019 found that lenders want to see improvements on the front-end consumer experience. 

“Digitization is rapidly changing how organizations create value and compete. Through previous studies, we found that lenders have consistently shown a strong interest in leveraging technology to improve both the front-end consumer experience and back-end operational efficiency,” said the author of the piece, Kimberly Johnson, EVP, COO, Fannie Mae. 

The survey revealed that 44% want to see improvements of the front-end consumer experience, 18% say they feel back-end operational efficiencies are most important Thirty-six percent said that both are equally as important. 

Nominate a company here.

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
x

Check Also

A New Take on Leadership

How can female leaders help move the housing industry forward? Cheryl Wiebe, Senior Manager of Customer Technology at Genworth Mortgage Insurance, weighs in. Editor’s note: this piece originally appeared in the October edition of MReport.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.