San Francisco, Calif., December 2, 2020 — RealKey, an innovative provider of digital mortgage technology, today announced that it was one of three companies selected for the Flagstar Bank MortgageTech Accelerator Program.
The MortgageTech Accelerator focuses on startups active in developing innovative technology solutions for the mortgage industry. It is the first and only accelerator program in the United States exclusively dedicated to mortgage technology.
The online program was designed by Flagstar Bank, the sixth-largest mortgage originator in the country. This is the second round of startups to participate in the program since its launch in 2019.
The RealKey platform, which will be available shortly, will significantly streamline the mortgage process and make everyone involved more efficient, productive, and profitable. Using the platform, mortgage originators can generate cleaner loan files that close faster and result in happier customers.
“We're always on the lookout for companies that are innovating mortgage technologies, and whose people have the skills and expertise to move our industry forward,” said Courtney Thompson, head of Default Mortgage for Flagstar Bank and sponsor of the program. “RealKey is developing a new platform designed to fundamentally change how loans get processed, bringing a more streamlined end to end experience for everyone involved. We’re pleased to have RealKey in our accelerator program, and look forward to helping them make their mark on the industry.”
Prior to starting RealKey, Christopher Hussain, Founder and CEO, was the number one Mortgage Originator in the United States from 2010 to 2011, and personally funded over $2 billion in residential loans in all 50 states. He also co-founded Sindeo, a San Francisco-based startup that raised $50 million to create a new mortgage experience. Other RealKey executives hail from companies like Intuit, TurboTax, Oracle, IBM, Equifax, Esurance, and Zillow.
“We are thrilled to be associated with such a leader in the mortgage industry as Flagstar Bank, and to have the opportunities available to us from their accelerator program,” said Hussain. “We’re already receiving positive feedback from early users of our digital mortgage platform. We are certain that it will not only change how mortgages are processed, but it will change lives for all parties involved, taking the pain out of getting a loan. Our goal in participating in the program is to accelerate our speed to market and gain rapid widespread adoption of our solution. Mortgage Loan Officers across the country can take advantage of the intelligence and automation RealKey provides to make their businesses operate more smoothly and efficiently.”
Flagstar Bancorp, Inc. (NYSE: FBC) is a $29.5 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 160 branches in Michigan, Indiana, California, Wisconsin and Ohio. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 87 retail locations in 29 states, representing the combined retail branches of Flagstar and its Opes Advisors mortgage division. Flagstar is a leading national originator and servicer of mortgage and other consumer loans, handling payments and record keeping for $227.4 billion of loans representing slightly over 1.1 million borrowers. For more information, please visit flagstar.com.
RealKey is an innovative provider of digital mortgage technologies that enable bank and non-bank mortgage loan originators (MLOs) to streamline the mortgage processing experience for borrowers. Disrupting the status-quo in the mortgage industry, the RealKey Digital Mortgage Platform makes the mortgage process more efficient and empowers MLOs to close more loans, faster, with less effort.
RealKey fills the gaps of present and established systems in the industry (LOSs, POSs, and AUSs) that do not address inherent/historic inefficiencies. The RealKey platform provides automated and intelligent collection of documents, review of data, and secure communications among all parties involved. These combined capabilities shorten the loan processing cycle by roughly 50%, giving MLOs time to close more loans and grow their business to meet increasing loan application demands. This is critical in current times, with record-low interest rates and heightened mortgage lending activity for both purchases and refinances. RealKey’s software works seamlessly with existing point of sale and loan origination systems to bring an end-to-end, fully digital mortgage processing experience to lenders, brokers and their clients.
For more information, please visit RealKey.com.