MReport May 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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8 | M R EP O RT MTECH local communities and a wealth of expertise that is flexible, nuanced, and continuously growing. An Investment in Tech MORTGAGE COLLABORATIVE'S EMERGING TECHNOLOGY FUND ANNOUNCES INVESTMENT IN MAXWELL. T he Mortgage Collab- orative, an independent cooperative network, announced the first investment of its recently launched TMC Emerging Technology Fund LP (TMC Fund). The venture capital program is funded by a self-selected segment of TMC members to capture opportuni- ties driven by the rapid pace of technological change in the mortgage sector. The investment is a par- ticipation in Maxwell's Series B Preferred Share financing, which was led by Fin Venture Capital and TTV Capital. TMC's Executive Chairman, Jim Park, remarked that TMC was for- tunate to be invited into this over-subscribed round because of Maxwell's recognition of the potential strategic value TMC's Emerging Tech Fund could bring to Maxwell, in addition to its financial investment. "More than the financial invest- ment, we're looking forward to the strategic value the TMC Emerging Tech Fund's limited partners will add to Maxwell as the mort- gage industry evolves," said John Paasonen, Co-Founder and CEO of Maxwell. "Their investment has brought forward-looking mortgage companies around the table who will accelerate the impact our solu- tions will have in the market." There are several TMC Lender Members that are finding new ways to participate in the "Power of the Network" through TMC's Tech Fund, including Owen Lee, co-owner of Success Mortgage Partners. "What I find so unique about being a limited partner in TMC's Emerging Tech Fund, is the opportunity to control my own investment dollars," Lee said. "Maybe more importantly, since the future-state of the mortgage industry will include more tech- nology and not less, this role helps me stay educated and prepared as a business operator for what is coming next in our industry." The Fund Manager of the TMC Fund, Sandy Selman from Asia West Inc., commented: "This transaction is a terrific foundational investment for the TMC Fund because of the demonstrated commercial success of Maxwell, the high caliber of their management team, and the quality and breadth of the syndicate. It puts us on the map and creates the strategic context for our deal pipeline well into 2021. We look forward to working with the Maxwell team to help them realize their commercial goals." TMC's Emerging Technology Fund is actively looking at invest- ment opportunities that will result in higher profitability and business process improvements for TMC members. Ready, Set, Buy FINLOCKER PARTNERS WITH EPM ON FINANCIAL WELLBEING APP. S t. Louis, Missouri-based FinLocker, a leader of next-generation, digital, consumer-permissioned personal financial assistance tools, has partnered with Equity Prime Mortgage (EPM), an indepen- dently owned national mortgage lender based in Atlanta, Geor- gia, to provide the FinLocker app to its first-time homebuyers, low-to-moderate income con- sumers in underserved commu- nities, especially the Hispanic community, and their existing borrowers across 49 states. EPM has white-labeled its FinLocker application "Empower," reflecting the company's mis- sion of providing their customers and partners "Freedom Through Empowerment." This partnership aims to empower consumers with the financial tools and educational resources to improve consumers' financial literacy and financially prepare them to qualify for a mortgage. Additional tools will sustain the new homeowners' financial health, enable them to monitor their home's value and equity, and achieve their next financial goals. "As a national mortgage lender, EPM is committed to expand- ing the opportunities to lend in the communities we serve," said Eddy Perez, CMB, EPM's Founder and CEO, who also serves as the Chairman of the Corporate Board of Governors for The National Association of Hispanic Real Estate Professionals. "As a first-generation Cuban American who has found my piece of the American dream, I want to provide the same opportunity to more consumers in underserved communities. EPM will be mak- ing the Empower app available free of charge to our borrowers, so they have the opportunity to achieve their American Dream and start to build their personal wealth through homeownership."

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