Sruthi Lanka is a technologist turned investment banker with 7+ years of experience across product development, mergers and acquisitions and capital optimization advisory. Most recently, Lanka worked as an investment banker at the Royal Bank of Canada, covering mergers and acquisitions of insurance, asset management and fintech clients.
The takeaway from LendIt is that commercial and multi-family real-estate technology is extremely nascent and poised for disruption although not without challenges, and that competition in the space is only likely to grow as computing power and machine learning models improve to meet the challenges.
A new breed of startups are looking to change that by completely digitizing the mortgage experience and bringing the number of parties a customer interacts with down to the manageable number of one. Here's what 5 top executives at those startups think.
A recurring theme through all the presentations during the day at LendIt was an eagerness on the part of all representatives and their staff to hear from and engage with key players in the fintech industry. Our main takeaway from the day’s discussions on regulation is that the representatives and regulators are listening.
At first look, it seemed to be an unlikely crowd for a conference involving technology-focused disruptors, but perhaps the formality of the event was indicative of the startups in attendance – growing companies beginning to rub shoulders with the establishment.
About a week before the November 2016 election, the U.S. Treasury market started to move lower. The cause of this increase in yield on the benchmark 10-year bond was not fear of an interest rate hike by the Federal Open Market Committee or the specter of higher inflation. No, the outlier event that shook the financial world out of years of torpor was a commercial real estate developer named Donald John Trump.
Fannie Mae’s National Housing Survey found that 37% of senior homeowners felt concern for their finances during retirement, yet only 6% of seniors are interested in utilizing home equity as a financial solution. With $6.2 trillion in home equity to bolster retirement income, why aren’t more senior homeowners taking advantage of products like reverse mortgages?
The time has come for internal workflows to be reimagined or all we’ll end up with is a shiny new chassis with a traditional, manual, cobbled-together process under the hood. I’m talking about the elements that make or break a mortgage transaction, such as valuations, investor requirements and reviews, compliance, surprises at the closing table, paper-based payment systems, onboarding, and the list goes on and on.