Valon’s 2022 in Review

Valon’s 2022 in Review

2022 was Valon’s biggest year yet, solidifying our impact on the mortgage servicing industry. From our inception, our plan to build homeowner-centric mortgage servicing technology was seen as impossible—even a joke to some industry veterans. In just three years, we’ve shown that our mission to empower every homeowner is achievable. We’ve proved that we can build proprietary technology that improves efficiency and provides our homeowners with industry-leading customer service.

We started 2022 with lofty goals: to expand our services and products, build new tools to give homeowners more control, and continue our work toward perfecting the servicing experience. Reflecting on the year, we’re proud to say that we stayed true to our mission and found a host of new ways to transform the experience of having a mortgage:

We tripled the size of our business, increasing market share

We’ve seen monumental growth every year at Valon—but that doesn’t mean our leap in 2022 wasn’t a big deal! This year, we put our technology and our infrastructure to the test, more than tripling the number of homeowners we support. In 2023, we aim to continue expanding both the size of our business and the depth of our impact.

We got licensed in all 50 states and are ready to serve more homeowners

In 2022, Valon took two key steps toward expansion. First, we got approval to service loans in our home state of New York, meaning we’re now licensed in all 50 states. Second, we expanded our technology to allow us to service Freddie Mac loans alongside Fannie Mae loans and now have the potential to serve a market of over 12.9MM homeowners. That’s a lot of homeowners.

We stayed true to our mission

Our mission has always been to empower every homeowner. With all of this growth, it’s been critical that our top-notch experience for our homeowners and clients scales with us. This year, we ensured each product, tool, or process we built had a positive impact on our homeowners, meaning…

Our homeowner-centric experience led to CSAT scores above 90%

CSAT (Customer Satisfaction) scores are a reflection of how well supported our customers feel, and the mortgage servicing tends to see some of the lowest scores of any industry (JD Power). During the last quarter of 2022, we averaged a CSAT score of 93.6%, evidence of how we went above and beyond for our homeowners and a huge feat given our simultaneous rapid growth. This achievement is a testament to our focus on improving the homeowner experience through comprehensive resources and intuitive, self-service tools, such as…

We built industry-first, innovative tools to make homeowners’ lives easier

For many homeowners, a mortgage may come with PMI (Private Mortgage Insurance), which can be a financial burden. The process of canceling PMI is infamously confusing and difficult. Not anymore. Valon’s incredible Product team has developed the first-ever self-serve tool that lets homeowners apply for PMI cancellation online. Since the tool launched, Valon homeowners have saved more than $500K in PMI premiums.

That’s not all—we also built a fully digital tool allowing homeowners to add Authorized Third Parties (like an insurer or trustee) to their account without ever calling our Client Experience team. Though we love hearing homeowners’ voices, what we love even more is saving them time. Plus, these are just the beginning—we’re excited to keep building new tools and functionality to level-up our homeowners’ experience in 2023.

We expanded lending and insurance services for Valon homeowners

The mortgage experience doesn’t end with servicing—people’s needs and goals inevitably change. We knew we could offer more to our homeowners. Last year saw two big achievements: we ramped up our mortgage lending services, with over $20 million in loans closed, and we launched our innovative insurance business. We didn’t stop there. We also made it easy for our homeowners to receive personalized, relevant quotes through email or our digital tools. Plus, we integrated a loan application process right into our platform, creating a seamless experience for our clients.

To our team, partners, and homeowners: we’re so grateful to have had you with us through this past year—and we can’t wait for the great things we’ll do together next.

Interested in making 2023 Valon’s biggest year yet? Check out our open roles!