âIf they (repairers) make a mistake, it could have a long-term impact on their entire business. Changing the software you are using or adopting new software that has not been approved by all possible regulators can cause you a lot of trouble.
From a start-up perspective, regulation can often come across as little more than ballast, and for Wang, die-hard traditionalists who find it hard to accept “unusual” start-ups like Valon are a big deal. huge stumble block.
â(Start-ups) are unusual initially for regulatory reasons. In addition, existing loan and service investors are also generally looking for a stable business and not really a start-up. So getting into that space from the start is a very difficult task, âhe revealed.
That hasn’t stopped Valon’s upward trajectory since its inception two years ago, in 2019. Licensed in 49 states (New York is expected to join the portfolio by year-end), the company has big assets behind it, notably Starwood Capital Group and Freedom Mortgage.
By the end of the year, Valon expects to serve more than 20,000 consumers and $ 6 billion in mortgages on its platform.