How Do You Get Recognized?
We have five criteria that we’re looking for. All applications will be scored on a weighted scale by each of our six judges. Also all applications must be submitted by January 26, 2018 to qualify. The winners will be announced on April 15, 2018 in Detroit, Michigan. We will be looking for:
The hard cost and time savings that the innovation enables industry participants to achieve. Simply put, what’s the dollar amount return on investment? (You can get a maximum of 2 points from each of the judges.)
The intangible efficiencies gained as a result of the innovation. How much time did you save as a result of the innovation? Did you maybe ensure compliance? Did you improve the process for the borrower? There are a lot of intangibles that can be achieved from good technology. (You can get a maximum of 4 points from each of the judges.)
The positive change the innovation made possible. Who is using your technology? We want to know that what you did in 2017 that is gaining traction such that the end users are seeing the benefits. Also, think about how you changed the mortgage process for the better. (You can get a maximum of 6 points from each of the judges.)
The originality of the innovation. We want to know why you’re unique. What makes your innovation special? What makes what you did stand out? (You can get a maximum of 8 points from each of the judges.)
The innovation’s overall industry significance. We want to know how your innovation changed the mortgage space for the better. We don’t want to recognize just any old product update, but rather a technology advance. Think about how what you did made a difference overall. (You can get a maximum of 10 points from each of the judges.)