Mountain View Advisors to Develop Digital Affordable Housing Underwriting Product to Expand Racial Equity in the Housing Market
Mountain View Advisors, LLC, a progressive “finnovation” consultancy in partnership with the Center for NYC Neighborhoods and Aegis, LLC, will develop a digital affordable housing underwriting platform to improve racial equity and expand home ownership with a grant received from the Housing Affordability Breakthrough Challenge sponsored by Enterprise Community Partners & Wells Fargo.
The goal of the project is to expand homeownership by dramatically expanding access to credit flowing to families of color with modest means through at-scale non-discriminatory lending and the creation of a new automated underwriting system. The center promotes and protects affordable homeownership so middle- and working-class families can build strong, thriving communities. Money allocated will allow Mountain View Advisors to develop the Underwriting for Good automated underwriting system. MVA will develop the tech stack and integrate best in class industry service providers.
“Building a nontraditional mortgage credit profile has long been a pain point for both the consumer and the creditor. This grant gives MVA the opportunity to build upon the blueprint we devised in the aftermath of the housing crisis to broaden the availability of housing credit for nontraditional mortgage applicants with limited to no credit profiles,” said Scott Moriarty, principal partner and founder of Mountain View Advisors, LLC. “Incorporating unconventional sources such as utilities, rental income and other non-FICO sources while cultivating additional data from the most frequently used and accepted third-party verification providers promises to deliver uniform, non-discriminatory qualifying results, while significantly reducing processing time for borrowers, counselors and lenders and minimizing pricing discrimination implicit in traditional models.”
Mountain View Advisors, LLC utilizes over 100 years of combined mortgage and consumer lending experience to provides strategic support for community financial institutions. From technology implementation management to strategic planning, process design and ongoing project support, we turn challenges into core strengths.