Despite an exponential rise in Fintech activity across many sectors, mortgage seems to have attracted a significantly lower amount of attention, at least on a relative basis.
I would suspect this is all for good reason - mortgage is one of the most complicated and heavily regulated financial products and requires a deep level of domain expertise, which is why I suspect many startups focus more on the consumer interaction layer vs. more complete process and product solutions.
That said, mortgage represents a huge opportunity, with ~$1.5 Trillion of new mortgages originated annually in the U.S. and ~$10 Trillion of mortgages outstanding that require servicing, and that is just primary residential mortgages - if you add in home equity lines and commercial/multi-family the numbers are even larger.
Given my professional focus on mortgage, I have been tracking a number of mortgage related startups (I will use the term “MortgageTech” until someone suggests we adopt a better name) and would like to expand this list for any companies that I may have missed.
Thanks in advance for your suggestions, and for now I’ve kept this U.S. focused, but at some point I am sure it makes sense to start threads for other markets as well.
I have broadly categorized these companies based on 3 defining segments, but open for suggestions as to a better way to organize them.
1 - Mortgage Enterprise Solutions - this would include loan origination system (LOS) providers, marketing/lead gen/application/underwriting/fulfillment/closing platforms, servicing platforms and other component solutions targeted primarily towards originators, issuers and servicers.
Blend Labs
Cloudvirga
Preclose
Roostify
RealKey
2 - Tech-Enabled Mortgage Lenders - this would include companies who are in the business of originating mortgages directly to consumers. I would also consider some forms of tech-enabled brokerages in this category, as long as the company has responsibility for taking the customer’s application all the way through underwriting and funding decision.
Better Mortgage
Lenda
LendingHome
Sindeo
Clara
3 - Mortgage Data and Analytics Providers - this would include any company that collects and/or supplies data to mortgage originators, issuers, investors or servicers.
CE Anlytics
Cignifi
Loanlogix
Scorelogix
Nomis Solutions
While I know this is only a partial list, I am hoping that others can suggest additional companies and help make this the most comprehensive list of MortgageTech.