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Maxwell co-founder and CEO John Paasonen (pictured) conveyed his excitement in having Maxwell join those rarified ranks: “We’re honored to appear on the 5000 list for the second year in a row,” he said in a prepared statement. “Our inclusion on the list reflects both the tireless work our team has put into launching and growing our suite of solutions and the value that those solutions have brought to the local lending segment. Our goal has always been to support the lenders that serve America’s communities through changing market cycles. Maxwell’s sustained growth is especially rewarding because it validates the impact we’re able to provide, even against rising competition and economic challenges.”
Read more: Platform caters to Latino borrowers en español
Subsequently reached by telephone for more insight, Paasonnen ticked off recent product launches illustrating the company’s growth. “Since 2019, we made a decision to go much deeper into the mortgage value chain,” he told Mortgage Professional America, listing recent launches of Maxwell Fulfillment in early 2020, Maxwell Diligence about a year ago and Maxwell Capital some eight months back. “So, now we’re far more than a point of sale,” he added. “We have technology and capabilities that span the entire mortgage origination value chain.”
In the time since the company’s founding – “It was just three of us and a PowerPoint,” Paasonnen said with a chuckle – the company has grown to employ some 300 people while counting “multiple hundreds” of lenders among its clients. “We’re not a lender,” he said. “But the amount of data and volume we’re able to see and bring the benefit of scale to our customers is pretty cool.”
Maxwell officials boast of the company’s status as the only fintech mortgage solutions platform designed and built by an integrated team of engineers and mortgage processors, underwriters, and closers, noting its role to modernize the mortgage industry for hundreds of small to midsize lenders. The firm recently launched its Private Label Origination to provide expanding and emerging lenders with the tech infrastructure needed to enter and scale in the mortgage market. Moreover, the company has launched Maxwell Español, a bilingual mortgage platform for lenders to better serve Spanish-speaking borrowers.
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