From Motor City to Mortgage City: How Detroit became a fintech hub
While the West Coast still reigns as the epicenter of technology development, the Detroit area has quietly emerged as a proving ground for digital mortgage innovations.
Major lenders in the region also are pioneering innovative technologies the larger industry is expected to eventually gravitate to as it moves toward a digital mortgage. United Wholesale Mortgage, headquartered in the Detroit suburb of Troy, Mich., employs 400 IT professionals, is using electronic notarization to conduct virtual e-closings through a mix of in-house and vendor technologies in almost 20 states, according to Justin Glass, the lender's chief digital officer.
"All the mortgage companies are looking for great IT professionals right now," Glass said.