Denver based B2B digital mortgage software provider Maxwell Financial Labs has raised a $3m funding round led by Anthemis Group.
According to the Mortgage Bankers Association, the costs to originate a mortgage have skyrocketed 80% in the last 7 years. The national average days to close a loan is now 51 days, up from an average of just 30 days just 7 years ago, as the burden of paperwork and broader requirements to vet borrowers weigh on lenders. Mortgage lenders powered by Maxwell collaborate with their homebuyers in a modern digital workspace, on any device, with connectivity to over 15,000 financial institutions to automate documents and signatures, and integrations into other leading mortgage technology providers. Since launch in mid-2016, Maxwell's platform has facilitated over $6 billion of mortgage volume -- equivalent to the volume of a Top 25 Lender -- for tens of thousands of homebuyers across the United States.