Dubbed as a sector ripe for innovative, the mortgage industry is attracting a number of San Francisco Bay Area-based engineers, entrepreneurs and venture capitals that are creating financial technology aimed at streamlining the loan origination process. Clayton Holdings represents one firm looking to take advantage of this increase in the Bay Area fintech industry. The Shelton, Connecticut-headquartered consulting firm is opening a Silicon Valley office with plans to aid fintech companies with process and workflow, policies and procedures, and ultimately supplement the decision making process. According to Andrew Pollock, senior managing director at Clayton, fintech firms are often in need of expertise when it comes to understanding how to take an idea and perform the "appropriate choreography to be compliant in originating these loans." Pollock, who will head the firm's new Los Gatos office, is seeing a number of Bay Area-based fintech companies create applications tha...
- Bay Area is an epicenter for financial technology firms focused on the mortgage industry.
- Compliancy is difficult within the fintech sector.
- Fintech companies are focusing on how to streamline the loan origination process.