Mortgage fintech Maxwell launches SSO tool for lenders

The tool is designed to address security issues with sensitive data during the lending process

Maxwell, the mortgage fintech backed by Wells Fargo and Fin Capital, has launched Maxwell Single-Sign On, an SSO (single sign-on) tool for lenders to enhance security and reduce the risk of data breaches, the company announced on Monday.

The tool is designed to address the issue of sensitive data being handled by lenders and loan officers on a daily basis, including social security numbers, paystubs, and tax returns. With cyber threats increasing in the financial sector, the company believes that lenders need to take proactive steps to safeguard their systems and data.

Maxwell Single-Sign On allows lending teams to sign in safely and securely using their existing authentication partner. The tool reduces the risk of unauthorized access to sensitive data and applications, simplifies access management, ensures only authorized users have access to consumer data, and improves usability by allowing teams to log in easily with one click.

The SSO tool is part of meeting the industry demands of ensuring an optimized process from the intake of the application to clear to close and beyond, the company said.

Founded in 2015 by homebuyers, Maxwell offers technology-powered solutions that address the entire mortgage loan process, from application intake to the secondary market, the company said. The company’s suite of technology products helps non-depository mortgage banks, credit unions, brokers, and local banks connect their communities with the benefits of homeownership.

The company believes that by applying technology to market challenges, they give local lenders powerful tools to remain competitive even as the industry evolves.

According to Maxwell, the company’s suite of tools have resulted in a 20% increase in loans closed per loan officer. In addition, the tools have resulted in 21 BPS saved in costs per loan, a 41% increase in net income, and closings that are held 13+ days faster than the average.

This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.

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