downpayment.gift was featured on the Pioneer Livestream last week with Daniel Gross (founder of Pioneer.app, former YC Parnter). The first 12 minutes or so is them reaction (or roasting) are pitch deck. Great feedback to simplify the deck and the overall business model.
In the software ecosphere around mortgage “manufacturing”… ie, sales, origination, processing, closing and post-closing, secondary marketing…. the Contract to Close section for processessing and closing get the majority of the investment and attention. This is the obvious place where consumers are most impacted by the user experience (ignoring servicing here). However, the cost to originate a loan is skewed heavily by the sales commissions paid to originators to woo real estate agents, get referrals and convert leads.
If the work of a loan originator is largely BEFORE the Contract on a purchase, isn’t it strange there is little attention paid and little investment made in this BEFORE Contract stage?
Where are the software tools focused before the contract? Where are the differentiated ideas and services to create mortgage demand?
Update coming later today or tomorrow for week starting July 12 and July 19.
Last week was slow on progress due out of town, personal visit from my Dad.
We did apply to the Revtechlabs Insuretech / Fintech Accelerator this fall. Looking at other Accelerator programs as a potential benefit at our stage.
This week… working on content, features updates including email notifications, marketing embeds, widgets and landing pages. Content calendar and social calendar, PDF fills, and graphics upgrades.
Let’s discuss this report and articles. Plus points 1-4 on what can be done.
I mentioned this in the subsequent update video… but I was gone this week… off the grid. Camping with my kids’ Scout Troop at Camp Winton. For Bay Area and Northern California folks… this is SW of South Lake Tahoe. Winton is a little closer than Kirkwood Ski Resort. The time leading up to and just after this week was a bit down on productivity. No new features. No big marketing push. Because the app is will a solo effort, schedule time away has an effect of nulling marketing efforts leading up to that time. Photos:
Hey guys. I’m heads down on goto market and customer acquisition. The DPP update from last week is going to be somewhat delayed. -Loren 06/16/21