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MCKINNEY, TX, August 08, 2022 /24-7PressRelease/ -- Confer Inc. is a FinTech company on a mission to democratize lending. Their trailblazing Mortgage Marketplace is where borrowers can find lenders, home insurance providers, title providers, and other relevant parties in a one-stop-shop. They have developed a proprietary industry-agnostic framework known as Compare-as-a-Service (CfaaS). CfaaS has been developed as a licensed solution targeted at disrupting multiple industries.
The OCMX™ is pleased to announce the listing of Confer Today to its online portal which offers financial networks the ability to learn more about this exciting opportunity.
The OCMX™ has spent considerable time completing its due diligence on Confer Today and concluded that there is indeed a tremendous potential for this company.
The OCMX™ noted that Confer Today exhibits the main components of any solid opportunity, namely a solid management team, a great track record, and several key competitive advantages.
WHAT THEY DO
The no-cost-to-borrower, Confer Today app, with its patent-pending technology, is the only tool in the market that helps create a customized mortgage for each borrower's unique financial needs.
It uses artificial intelligence to analyze the data, identify any unallowable fees, and compare loan terms and fees/costs between the official Loan Estimates (LEs). As a result, it recommends an option financially advantageous to the borrower.
This first-of-its-kind comparison process affords the borrower a never-seen-before opportunity to select the lending option which is best suited for their unique needs. Machine Learning creates predictive models to craft genuinely custom mortgage solutions for our users' financial benefit.
WHERE THEY ARE HEADED
Not only does The Confer Today app complete an apples-to-apples comparison between closing costs, it also looks for fees that have the same purpose, but may be disclosed in different sections of the LE or with different names between lenders – all while ensuring that regulatory requirements are met.
Additionally, Confer Inc. is creating the only Mortgage Marketplace of its kind. This Mortgage Market place allows users to shop for all service providers in one centralized location. The Marketplace options include – Lenders, Homeowners insurance, Title agents, Mobile notary, and more. Revenue is generated for Confer when a service provider or vendor with a marketing service agreement with Confer is selected in the Marketplace.
• Truly customer-focused lending solution
• A unique tool that creates a problem-solving space for both customers and lenders at the same time
• Compliance enforcing solution (Enforcing CFPB guidance)
AWARDS AND MILESTONES
• Released the Confer Today App, which enables customers to compare their official Loan Estimates and get the best deal. This free-of-cost-to-user app launched nationwide on April 1st, 2022 (within 3 months of the company launching its operations)
• Launching a campaign targeting the acquisition of 100 customers within 100 days, beginning in August 2022
• Ready to make the Confer Mortgage Marketplace available to customers by Summer 2023
• Team Expertise: Confer Inc. consists of a team with a combined home lending experience of 150+ years with enhanced focus on mortgage sales, compliance, customer informed choice and technology: MORGTECH and REGTECH
• High revenue potential: The average mortgage market is $2.82T in the US with a revenue potential of $675.5MM.
• A true Mortgage Marketplace does not exist: Common marketplace for all customer lending needs, including but not limited to: Lenders, Homeowners insurance, Title agents, Mobile notary, which is a unicorn in the industry.
Yatin Karnik, Founder & CEO
A U.S.-based entrepreneur, former Wells Fargo SVP, and philanthropist. Yatin is the founder and CEO of Confer Inc., a FinTech startup, and Diabetes Free Life, a non-profit organization. He has extensive knowledge and experience in the residential lending business and specializes in loss reduction, risk management & mitigation, people management, technology, regulatory and strategic initiatives management. Over the course of his 18+ years at Wells Fargo Home Mortgage as SVP, he has built services (Fee Service, Settlement Agent Gateway, Product Options tool, Pricing Service & others) that were leveraged nationally across the bank. Some of his accomplishments include realizing $18MM in cost savings from the reduction of Fee refunds over two years, spearheading business process changes and technology enhancements that put the company on track to reduce Over Tolerance losses by $5MM/Yr, establishing international operations and more.
Shamal Deb, CTO
Forward-thinking and results-oriented leader with expertise in transformational initiatives, collaboration, strategy development and execution, and change management. Shamal is a highly successful leader delivering business value, developing people and improving overall organization effectiveness. With more than 22 + years of experience in Software Development, Workflow Process Automation, Business Rule Automation, Microservices, and API Technology. Leadership with Innovation, Visionary, and Strategic in delivering Financial Services in Consumer Lending businesses.
Pavan Manchikanti, CIO
Technology leader with 20+ years of experience in managing and leading scalable solutions across various technology platforms in multiple corporate settings. Pavan is leader proficient in managing enterprise level technology solutions in a heavily matrixed environment. He is well versed with intricate business details and processes related to mortgage applications. Has successfully delivered technology solutions on Pivotal Cloud Foundry and AWS cloud infrastructure.
Ashok Kolluri, Director of Operations
Former Wells Fargo VP, seasoned hands-on professional with over 15 years of experience in Business rules management and operations supporting financial industry. Ashok brings a long history of financial experience, clean audits, and attention to detail to a financial management position. He specializes in strategic planning and long-term vision with an eye for up-and-coming trends and new avenues for growth and profit. He brings unique technical expertise in business rules architecture with strong home lending business experience.
ABOUT THE OCMX™
The OCMX™, established in 2009, is a next generation investor relations and marketing outreach firm. Through our online OCMX portal, we connect companies with financial networks, generating interest and awareness for their opportunity.
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Toronto, Ontario, M5J 2S1
Email: [email protected]
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