Cornerstone Financial Credit Union has licensed a platform that will enable it to gain greater control and security over lending documents shared with its members. It will deploy Sharebase from Hyland, with the objective of providing members secure access to loan-related documents and packages.

Due to regulations, lenders have been required to collect more documents than ever, increasing the risk of losing or misplacing documents. At the same time, the regulatory penalties for doing so are greater than they have ever been, so lenders are working to ensure they can minimize the risk from documents that are misplaced.

ShareBase is designed to provide an intuitive, automated and secure way for members to access loan information while incorporating an automatic audit trail to ensure corporate and industry compliance. Developed and designed specifically with security in mind, all files in ShareBase are encrypted while at-rest and in-transit. Additionally, data encryption keys are themselves encrypted and rotated to meet the toughest security standards.

"Granting access to members' lending documents, in a safe and secure manner, was a critical component of Cornerstone's quest for a file sharing tool," said Travis Roe, product manager at Hyland. "ShareBase will provide control over the information shared with both internal and external users to know exactly who has accessed information and what actions were taken."

Guaranteed Rate Inc. will acquire Honolulu HomeLoans and Hawaii Lending Alliance, increasing its presence in the Hawaii market and adding an experienced team of mortgage professionals.

Also, Guaranteed Rate will license new branch locations in downtown Honolulu and in other locations as well as maintain its existing branch locations in Honolulu and Aiea.

“Hawaii is a growing market where we’ve already built a great team. Adding this opportunity will accelerate our market share dramatically,” said Victor Ciardelli, executive officer and founder at Guaranteed Rate, an independent mortgage company.

“What enables Guaranteed Rate to be a top-retail lender in the country will certainly benefit our loan officers, realtor partners and customers,” said Anders Hostelley, former president and CEO of HHL. “Guaranteed Rate has cutting-edge technology coupled with excellent customer service and an outstanding base of products to offer our clients, which will enable us to excel as a mortgage lender in Hawaii.” After the acquisition, Hostelley will continue to lead that business unit as a regional manager.

As a result of this acquisition, the Company will expand its presence with the goal of reaching an even broader audience on the Hawaiian Islands. Many of the former Honolulu HomeLoans and Hawaii Lending Alliance loan officers that are joining Guaranteed Rate are fluent in Vietnamese, Ilocano and Tagalog.

Two senior Black Knight executives with will be placed in leadership positions at D&B, once the planned acquisition of the company is completed by the end of the first quarter. William Foley II , executive chairman of the board at Black Knight, will serve in the same role for D&B. Anthony Jabbour will be CEO at D&B and remain in his current role as CEO at Black Knight.

[caption id="attachment_7892" align="alignleft" width="150"] Daffron to join Dun & Bradstreet when the transaction closes.[/caption]

Reporting to him is Stephen Daffron who will join Dun & Bradstreet as president from Motive Partners, a global private equity firm he co-founded in 2015 with a focus on financial-technology. He's slated to join D&B when the transaction closes by the end of the first quarter.

"I am extremely happy to have Steve join as President of Dun & Bradstreet, where he will leverage his vast experience in the data and analytics business to provide invaluable insight for our business and our valued customers," said Jabbour.

Earlier in November, Black Knight’s board approved a $375 million investment, for a stake of less than 20 percent in Dun & Bradstreet. The acquisition will be completed through Star Parent, an investment consortium led by CC Capital, Cannae Holdings and Thomas H. Lee Partners, Black Knight Inc., Motion Partners and others. Thomas H. Lee Partners has two representatives on Black Knight's board.

During more than two decades on Wall Street, Daffron served as global head of operations, technology and data at Morgan Stanley. He led an organization of 17,000 and managed the integration of the firm's acquisition of Smith Barney.

Following his time on Wall Street, Daffron served as president and chief executive officer of Interactive Data Corporation, a provider of financial data and analytics. He has also held senior leadership positions at Renaissance Technologies, Citigroup and Goldman Sachs.

The Detroit Fintech Bay named Flagstar Bank the founding partner of the North American Fintech hub. Detroit FinTech Bay brings together governmental bodies, financial institutions, corporations, venture capital, FinTech startups and other organizations.

"Partnering with Detroit FinTech Bay is a strategic partnership for Flagstar Bank," said Jennifer Charters, chief information officer at Flagstar. "We're excited to work alongside innovative startups, corporations and investors as we explore opportunities to collaborate on our expanding lineup of technology-enabled solutions—all while partnering to support this fintech ecosystem in our backyard." The FinTech Consortium accelerates the development of financial technology.

As the nation's fifth largest bank mortgage originator, Flagstar has a historical legacy in the fintech mortgage industry. Flagstar expanding its presence, both geographically and technologically. It’s in the process of acquiring 52 Wells Fargo bank branches, slated to close at the beginning of December.

A key mission of Detroit FinTech Bay will be to drive collaboration between the great minds creating innovative FinTech solutions, and the institutions who need those solutions. Within the space, the community of residents, investors, and institutions will thrive through leadership courses and activities, monthly classes, hackathons, demo days, pitch practice, mentorship relationships, and more. Talent development, education and access to investment capital are additional hallmarks of the FinTech hub model.

"Flagstar's commitment to fintech, and especially their commitment to Detroit and Michigan, make them a great fit for Detroit FinTech Bay,” said Maissan Almaskati, managing partner of the FinTech Consortium. “Their investment in Detroit's fintech ecosystem comes at an important time in their history, as great strides are being made in Flagstar's fintech offerings."

The model of bringing together banks, corporations and startups has a proven track record of accelerating creativity and growth for everyone involved, based on findings from the original Fintech Bays in Singapore and Bahrain, where over 600 startups completed the program.