Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10
Mortgage technology platform Haven has raised $8 million in Series A funding to expand its mortgage servicing infrastructure while taking advantage of the high-interest rate environment.
Fifth Wall announced on Tuesday that it led its funding with participation from investors including Fidelity National Financial, RWT Horizons, 1Sharpe Ventures, Conversion Capital, BoxGroup, AME Cloud Ventures, and Operator Partners. Founded in 2020 by Nipun Kant and Jonathan Chao with Series A funding, Haven has raised $13.5 million to date.
The capital will be used to hire staff and accelerate product development, Haven said. By integrating with secondary service providers, the technology company provides service providers with a customized platform to attract, train and register borrowers for new products and services.
Servicers can improve their mortgage servicing fee (MSR) revenue through technology that enables reverse and cross-selling strategies, the company says.
“There are a lot of companies that want to reach homeowners, but this group is very difficult to reach,” said Haven CEO and co-founder Jonathan Chao. “If our platform serves to connect homeowners with solutions, it can open doors for many businesses that may not have existed.”
According to the company’s website, subservience can offer customers a re-ownership option to get more service offerings, and lenders can help LOS find opportunities to spend cash.
Chao described the current market downturn as a “once in a lifetime” interest rates and stocks are at all-time highs, but market foreclosure rates are at all-time lows. ‘ helped several providers navigate the bear market.
Through the Haven platform, mortgage lenders have helped customers achieve home ownership by providing advice on additional products including home insurance, subprime loans, and solar services, to deliver value to customers, Chao said. – Domestic financial centers.
“We were born in an age of recycling. However, the changing environment (in a high-rate environment) has allowed us to develop cross-selling products such as home insurance, second mortgages, and other products and services that help homeowners survive. . in their house,” he said.
Chao declined to name the client, but Haven and mortgage subservice LoanCare merged in May to generate more revenue and cross-sell conversions.
The company said in its announcement that the integration of LoanCare’s service platform with Haven software will allow clients to use these marketing capabilities to drive data-driven results.
Haven claims to have cross-selling partners in four industries, including home, auto, life, and equity, and is integrated with six of the top 50 services in the United States.
Reference Source: Housing Wire
