HICKSVILLE, N.Y. and TROY, Mich., March 18,
2024 /PRNewswire/ -- Flagstar Bank, N.A., the
bank subsidiary of New York Community Bancorp, Inc., (NYSE: NYCB)
(the "Company" and "Flagstar"), today announced it is now accepting
applications for its fifth annual MortgageTech Accelerator
program.
The program, which is the first and only one in the United States solely dedicated to mortgage
technology, focuses exclusively on incubating fintech startups
engaged in developing innovative solutions for the mortgage
sector.
Commenting on the program, Cyril
Berdugo, CEO of Landis, a 2023 MortgageTech Accelerator
participant noted: "The collaboration and partnership we received
as part of our participation was invaluable in advancing our
mission to make homeownership more accessible and affordable. I
would encourage any company that wants to take their business to
the next level to apply for the opportunity be lucky enough to be
part of the program."
Fintech companies in all facets of the mortgage business,
including origination, processing, marketing, servicing,
compliance, sales, underwriting, credit, and quality assessment are
encouraged to apply. Criteria for selection include potential for
technological innovation, prospects for growth and CRA impact.
All applications are due April 15,
2024. For additional program details or to apply, please
visit to www.Flagstar.com/accelerator.
Flagstar 2024 MortgageTech Accelerator program participation
benefits include:
- Customized curriculum based on current and future needs
- Technical assistance and knowledge-sharing with technologists
from Freddie Mac
- Informal sessions on compliance and regulatory strategies with
attorneys from the Consumer Finance and Fintech practice at
Sheppard Mullin, a leading, global law firm
- Informal Q&A sessions with Fannie Mae
- Ability to test product/solution in a real-world controlled
environment
- Access to senior executive mentors from Flagstar with deep
industry experience
- Partnering with an established national bank with over 35 years
in the mortgage industry
- Potential for investment from Flagstar upon successful
completion of the program
- Potential for a vendor relationship with Flagstar upon
successful completion of the program
- Access to a wide network of potential customers
"In our fifth year of this program, Flagstar's MortgageTech
Accelerator has introduced us to talented fintechs who innovate
across every segment of the mortgage process. It's been incredibly
rewarding to mentor and empower program participants to achieve new
success, while simultaneously adopting some of these new
technologies at Flagstar to improve mortgage operations and how we
service and connect with customers," said Lee Smith, president of mortgage at Flagstar.
"We look forward to meeting our next class of entrepreneurs who
will test their solutions in real-world environments while being
mentored by our talented senior executive team."
"Flagstar's MortgageTech Accelerator connected Greenline with an
ideal launch pad in 2023," said Daniel
Hayes, CEO of Greenline. "The expertise, support and
industry network has been invaluable to our business which still
benefits today from our working relationship with Flagstar and its
TPO channel."
The accelerator program is delivered remotely and is open to any
startup applicant who can participate in sessions that will be
scheduled in the U.S.
About New York Community Bancorp, Inc.
New York Community Bancorp, Inc. is the parent company of
Flagstar Bank, N.A., one of the largest regional banks in the
country. The Company is headquartered in Hicksville, New York. At December 31, 2023, the Company had $114 billion of assets, $86 billion of loans, and deposits of
$82 billion.
Flagstar Bank, N.A. operates 420 branches, including strong
footholds in the Northeast and Midwest and exposure to high growth
markets in the Southeast and West Coast. Flagstar Mortgage operates
nationally through a wholesale network of approximately 3,000
third-party mortgage originators. In addition, the Bank has 134
private banking teams located in over ten cities in the
metropolitan New York City region
and on the West Coast, which serve the needs of high-net worth
individuals and their businesses.
New York Community Bancorp, Inc. has market-leading positions in
several national businesses, including multi-family lending,
mortgage origination and servicing, and warehouse lending. The
Company is the second largest multi-family portfolio lender in the
country and the leading multi-family portfolio lender in the
New York City market area, where
it specializes in rent-regulated, non-luxury apartment buildings.
Flagstar Mortgage is the seventh largest bank originator of
residential mortgages for the 12-months ending December 31, 2023, while we are the industry's
fifth largest sub-servicer of mortgage loans nationwide, servicing
1.4 million accounts with $382
billion in unpaid principal balances. Additionally, the
Company is the second largest mortgage warehouse lender nationally
based on total commitments.
Investor Contact:
Salvatore J. DiMartino
(516) 683-4286
Salvatore.DiMartino@Flagstar.com
Media Contact:
Nicole Yelland
(248) 312-5872
Nicole.Yelland@Flagstar.com
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SOURCE New York Community Bancorp, Inc.