has teamed with the Detroit Fintech Bay to create the Flagstar Mortgage Tech Accelerator Program, with the goal of supporting startups developing mortgage industry technology solutions.
Billed as the first program of its kind, this endeavor is open for applicants across the U.S. Qualifying applicants may also receive seed capital funding, access to investors and a one-month residency at Silicon FinTech Bay to meet Silicon Valley institutions and venture capital firms. Participants will also be expected to travel to Detroit to meet with the program’s organizers. Applications for the program are being accepted through July 27.
“We’re excited to partner with the Fintech Consortium to launch the first startup accelerator in the U.S. exclusively focused on the mortgage industry,” said Rocky Stubbs, head of digital lending at Flagstar. “We have the depth and breadth of capabilities to support fintech startups operating at every point in the mortgage value chain, and we offer the best of both worlds—the advantages of a federally chartered bank combined with the agility of a typical non-bank.”