Back in July Flagstar Bank announced that they have teamed with Detroit Fintech Bay to create the Flagstar Mortgage Tech Accelerator Program, with the goal of supporting startups developing mortgage industry technology solutions. The MTAP is the only tech accelerator that focuses 100% on Mortgage Technology. Having the industry actually implement their own accelerator was something that was long overdue in my opinion and I wouldn't be surprised to see other lenders join in on the fun. Last week I had the chance to have Flagstar's Head of Digital Lending, Rocky Stubbs, on our ShredTech Webcast to talk about the recent announcement of the first startups to participate in the MTAP. You can check out our interview below.
The Flagstar MortgageTech Accelerator Program is focused on early stage startups developing innovative solutions for the mortgage sector (mortgage tech). The program is open to startup applicants from across the United States and will take place at Detroit FinTech Bay, for a duration of three months. Remote/online participation will be considered on a case-by-case basis. As Rocky explains in the video the three companies that were chosen for the MTAP were Brace, boost.ai, and Home Captain.
From NMP: The Flagstar Mortgage Tech Accelerator Program has been jointly designed by Flagstar Bank and The FinTech Consortium, a global fintech ecosystem builder. Detroit FinTech Bay is FinTech Consortium's dedicated hub in Detroit. The program 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.