American Pacific Mortgage is forward-thinking and looks to support pioneers in the industry. We recognize that not all innovation happens within the walls of a large company, and that is why Scrappy Labs aims to partner with smaller disruptors to make sure we are staying on the cutting edge on behalf of originators, real estate partners and consumers.
To further execute on this, we are partnering with a startup that is revolutionizing the way loan originators are recruited. Modex is a mortgage recruiting and research platform dedicated to empowering both loan officers and employers with technology and data transparency to create better employer-employee connections. Users of Modex can filter and search, research and connect with each other in real time.
Think of it as a mixture of LinkedIn and Match.com for originators and mortgage banks.
What it comes down to is that there is a need for more transparency in the mortgage banking employment space and Modex is filling that void.
Today, mortgage banks can only purchase valuable data in massive spreadsheets that allows them to fully vet and source originators. The information comes from data scientists who are qualified to manipulate information, but what if you could remove that middle man so that branch managers and recruiters could get directly to the source of the data?
That is what Modex provides, and American Pacific Mortgage is going all in on the technology.
Here are the key aspects of the platform that will provide real value:
- Originators can “claim” their profiles on Modex to protect and validate their status as a qualified professional. This serves as a dynamic online resume and their reputation as productive originators could be at stake if they don’t effectively manage and validate their tenure, production and product mix, etc.
- Essentially, originators can confidentially “raise their hand” to find out more information about working for a competitor without alerting their current employer.
- Originators are ranked using a Modex score, which is a quick way to know who the best all-around producers are. To get this score, Modex aggregates mortgage production data from a variety of public, third-party and validated user-generated sources. It is made available to both originators and mortgage banks.
- The platform has a streamlined and visually appealing interface.
The win-win here is this: Employers can source the right originators in real-time, whether that be based upon production, experience or company match. Originators get a more transparent employment process, empowering them to negotiate the very best offers available.
The icing on top is Modex was created by a team that includes both mortgage and technology professionals, so it is a company that understands the mortgage industry.
The past is no guarantee of future success, especially in a rapidly changing and competitive mortgage space. Big banks are just now coming to realize that they can no longer compete in this industry using old-fashioned tools and outdated programs. Innovation is a process that never ends and demands constant improvement. That’s why at American Pacific Mortgage, we devote resources to research and experimentation to validate the needs of originators and consumers.
As the need for more robust recruiting efforts increases, we believe Modex is a way to upgrade our central value proposition and our path to growth as a company.
Stay tuned, there is much more to come!