Flagstar Bank and the Fintech Consortium have opened new applications for an incubation program designed to give mortgage startups a “unique opportunity” to validate their technology and accelerate their growth.
First launched in September 2019, the Flagstar MortgageTech Accelerator Program incubates mortgage fintech startups working to improve various points in the mortgage value chain.
The program is fully available online and provides access to consultations with experienced Flagstar mentors, a roadmap design for product acceleration development, real product-testing opportunities, and access to a vast network of potential customers.
Qualifying applicants may also receive seed capital funding, access to investors, and expansion opportunities through the FinTech Consortium’s global network.
“This second edition of the Flagstar MortgageTech Accelerator Program demonstrates how financial institutions and startups can successfully innovate together. Flagstar’s leadership and domain expertise in mortgage finance provide a unique opportunity to startups seeking to validate their technology and accelerate their growth,” said Maissan Almaskati, CEO of the FinTech Consortium in the United States.
Home Captain, Brace, and boost.ai were some of the startups that completed the program last year.
“Having access to mentorship, transparency, process orientation and problem-solving between the two organizations has benefited us greatly,” said Grant Moon, CEO of Home Captain. “We have reduced our average go-to-market by 50% through the engagement and leadership team efforts at Flagstar Bank.”
The last day to sign up for the program is Sept. 30. Flagstar will select qualifying applicants by Oct. 12 and kickstart the program on Oct. 19, with live sessions to be scheduled in the Eastern time zone.