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M R EP O RT | 5 MTECH Seeking Fintech Innovators FLAGSTAR ACCEPTING APPLICANTS FOR MORTGAGETECH ACCELERATOR PROGRAM F lagstar Bank N.A., the bank subsidiary of New York Community Bancorp Inc., has announced that ap- plications are now open for its fourth MortgageTech Accelerator program. This national program focuses exclusively on incubat- ing fintech startups engaged in developing innovative solutions for the mortgage sector. It is the first and only accelerator program in the United States solely dedicated to mortgage technology. "Flagstar's MortgageTech Accelerator is about helping fintechs in order to give Flagstar mortgage customers a better experience throughout the mort- gage lifecycle," said Lee Smith, President of Mortgage at Flagstar. "We think we have a great value proposition for innovators who join the program: Test your in- novation in real-world situations; learn firsthand how a mortgage company operates in a regulated bank environment; and let us help take you to the next level." Applicants can be fintech com- panies working on breakthroughs in all facets of the mortgage business, including origination, processing, marketing, servicing, compliance, sales, underwriting, credit, and quality assessment. Criteria for selection include potential for technological innova- tion, prospects for growth, and CRA impact. Benefits of the program include: • Partnering with an estab- lished national bank with over 35 years in the mortgage business • Customized curriculum based on current and future needs • Access to senior executive mentors from Flagstar with deep industry experience • Informal Q&A sessions with Fannie Mae • Informal sessions on compli- ance and regulatory strategies with Orrick, a tech-focused law firm • Ability to test product/ solution in a real-world con- trolled environment • Access to a wide network of potential customers • Potential for investment from Flagstar on successful completion of the program • Potential for a vendor rela- tionship with Flagstar on successful completion of the program "We got tremendous sup- port and insight from the team at Flagstar," said Jeremy Foster, Chairman of Calque Inc. "They helped us see how our product should be deployed in a bank environment and technologically what was involved in getting it right. As a result, we ended up with a process that's dramatically more convenient. The program was incredibly valuable." Unifying Multiple Sales Channels OPTIFINOW ANNOUNCES LENDER-CENTRIC CRM PLATFORM M ortgage CRM pro- vider OptifiNow has announced the launch of OptifiNow Flex, a version of their CRM platform to support multichannel mortgage teams. Flex unifies the workflows for wholesale, retail, reverse mort- gage, recruiting, and more into a single system. "Over the past few years, we've seen a worrying trend in the mortgage industry," said Linn Cook, VP of Sales at OptifiNow. "Lenders are implementing two or even three different CRM systems to satisfy the needs of different sales channels. They want specific tools, integrations, and screens that provide each type of user with an ideal workflow, but they end up with a convoluted tech stack that drains their budgets and resources. Maintaining mul- tiple systems and a complicated IT environment in today's tight business environment is unsus- tainable." OptifiNow Flex consolidates the functionality of multiple CRMs into a single solution. All sales channels log into a single site but the CRM experience is customized for each user. "We can build completely different user experiences that provide the specific workflows or tools that type of user needs," Cook added. "In many cases, we can even integrate different LOS systems and third-party services that are specific to each channel or division." OptifiNow has built omnichan- nel CRMs to support many different lender configurations, including simultaneous forward and reverse lending environments, multiple DBAs with different workflows, or the inclusion of a recruiting CRM within the overall platform. Maintaining GSE Compliance CLEAR CAPITAL ANNOUNCES UNIVERSAL DATA COLLECTION Clear Capital has launched its Universal Data Collection (UDC) product, the latest in the company's suite of products designed to support appraisal modernization. UDC supports Fannie Mae's newly announced Value Acceptance + Property Data program, as well as Freddie Mac's ACE+ PDR solution, empowering lenders with immediate national scalability and coverage. When a lender receives loan eli- gibility for agency loan programs that allow for an inspection-based appraisal waiver, UDC ensures fast and accurate collection and submission that meets both Freddie Mac and Fannie Mae data standards. With varying standards across the property data collection space, UDC provides flexibility, as eligible loans can be quickly and easily transferred to the agency with the loan program that meets the borrower's needs, without the "Lenders are implementing two or even three different CRM systems to satisfy the needs of different sales channels. They end up with a convoluted tech stack that drains their budgets and resources." —Linn Cook, VP of Sales, OptifiNow