It’s been about 4 years since Valon started servicing our first loan. In that time, we’ve accomplished a tremendous amount: we’ve built the first new mortgage servicing platform to enter the market in nearly 4 decades and are now servicing over 350,000 homeowners across America with best-in-class unit economics and customer satisfaction. 

We believe that the next 4 years will be even more exciting as we work to build the largest homeownership platform in America.

In 2023, we proved Valon’s core thesis – namely that our technology platform enables better mortgage servicing at scale (more efficiency, higher customer satisfaction, etc). Here’s a closer look at the milestones we’ve reached this year and the exciting challenges we’ve overcome.

Growth and Scalability

In 2023, Valon experienced extraordinary growth. Our platform now services over $55 billion of mortgages, which represents 5x growth from 2022. This achievement underscores our robust scalability and the trust we’ve earned from the industry and our clients.

With over 350,000 homeowners on our platform, we are making significant strides towards our mission of empowering every homeowner. Each new homeowner represents a step closer to a more transparent, efficient, and empowering mortgage industry.

We demonstrated that our platform can handle scale:

• Our largest onboarding month in 2023 involved bringing over 80,000 mortgages onto our platform, processing over 19.5 million data values and 7.6 million document images. 
• We processed over $3.5 billion in payments. Our system handles not only the loan accounting but also a complex set of money movements, reconciliation, and reporting downstream.
• We generated over 50,000 call summaries via AI, with each automated summary saving our contact center about ~60 seconds of wrap time while enabling our team to focus fully on solving our homeowners’ issues. 
• Our platform ran over 6.5 billion background jobs over the course of 2023.

And, as our business grew, we also grew to 274 Valonians!

Outstanding Customer Satisfaction

Homeowner experience remains at the core of our mission. We are proud to have achieved a 93% customer satisfaction rate, a testament to our relentless focus on delivering exceptional service. 

Some of our favorite homeowner quotes from this year: 

• “Valon obtained my mortgage from another lender..at that time it was the 3rd or 4th mortgage company that had it… I was dreading yet another new mortgage firm… so far I’ve had nothing but good experiences with Valon… I went from dreading a new lender to dreading the thought they pass on my business to another… I  recommend Valon highly to folks needing a great mortgage company…” 
• “Valon is the very first mortgage company we have used (In 50 years of dealing with mortgage lenders) that is easy”
• “I’m not quite sure what the deal is but my experience with this mortgage company has been worlds better than my previous mortgage company. My previous mortgage company could not do bi-weekly payments or additional principal.Communication was limited to paperwork and the app was terrible. I am absolutely pleased that I can do all of the things now with a great digitally that I could not do with my previous mortgage company”

Expansion Beyond Our Core Business

Outside of our core servicing business, our ancillary consumer businesses also made great strides over 2023. Over the course of the year, we originated almost $60 million in new mortgages, an increase of over 2.5x from 2022. We also secured our seller approvals from both Fannie Mae and Freddie Mac after just a little over two years since inception of our Lending business while concurrently expanding into new products, including HELOCs and government program loans.

Our Insurance business hit several key milestones, including the launch of multiple partnerships to find opportunities for our homeowners to save money on their property insurance. We also continue to explore other ways to unlock savings for customers on our platform, including launching an initial pilot of a tax dispute product that can reduce homeowners’ tax bills with great initial success.

All together, our continued success in our cross-selling businesses proves out our central thesis that a great experience through better technology is the key to unlocking hugely valuable and mutually beneficial relationships with our homeowners.

Join us in our mission to reshape the future of homeownership. Together, we can achieve even greater milestones and continue to set new standards in the industry.

Interested in making 2024 Valon’s biggest year yet? Check out our open roles!