By the FL Innovation News editorial team · Entrepreneurship
As the symptoms of an impending recession grow impossible to ignore, the financial world is on edge – seeking innovative solutions to navigate the looming economic uncertainty. Enter Kristine Viera, the founder and CEO of ClearCloser, a revolutionary FinTech company specializing in mortgage technology and private lending solutions.
Kristine Viera never planned to become a tech mogul.
It was while serving as the CFO of a private lender in South Florida that her path took an unexpected turn.
Faced with the challenge of scaling operations without the luxury of a full-time staff, Viera turned to coding. It was a skill she didn’t possess but desperately needed. So, she did what any determined self-starter would do: she taught herself. Nights were spent hunched over a laptop, absorbing every bit of information from Google and YouTube she could muster, learning how to build bots and complex automating processes. Her efforts paid off, generating $7 million in originations within just 90 days.
“I remember feeling overwhelmed at first,” Viera recalls. “But I knew that if I could just figure out how to leverage technology, I could solve so many of the inefficiencies I was seeing in the mortgage industry.”
Witnessing firsthand the inefficiencies and outdated processes that have plagued the mortgage industry for decades, Viera’s vision for ClearCloser began to take shape.
She wasn’t just looking to streamline operations; she wanted to redefine them: ClearCloser would harness the power of technology and artificial intelligence to enhance efficiency and accuracy, setting a rigorous, never-seen-before standard for mortgage transactions.
But the road was anything but smooth. Established financial institutions are wary, resistant to change, and skeptical of new technologies. Viera faced this challenge head-on, educating decision-makers about the tangible benefits of ClearCloser’s solutions through workshops, webinars, and pilot programs. Her relentless drive and strategic approach began to turn the tide.
As inflation skyrockets in the United States, the importance of Viera’s mission becomes even more pronounced. The current economic landscape shows rising interest rates and mortgage rates, which are reminiscent of patterns seen before past economic downturns. As of 2024, the 30-year fixed mortgage rate hovers around 7.1%, echoing the high rates of the late 1970s and early 1980s. Similarly, declining home sales and weak housing starts recall the precursors to the 2008 financial crisis and the early 1990s recession.
These parallels are not lost on Viera, “In general, the importance of transparency, efficiency, and accuracy in financial transactions cannot be overstated,” she notes. “However, in regards to what we are seeing in the market now, the implementation of ClearCloser’s technology in both the private and public sectors is more imperative than ever.”
Viera’s innovations have not gone unnoticed. Named one of Brickell Magazine’s Top 20 Professionals Under 40, she has also participated in Endeavor Miami’s EndeavorLab and the Endeavor Pitch Competition. High-profile endorsements from industry leaders further validate her impact.
Christopher E. Campbell, Founder and CEO of Incamera Solutions and former Assistant Secretary of the Treasury for Financial Institutions, praised ClearCloser, stating, “ClearCloser is unprecedented technology in the mortgage-backed real estate and security industries. I’ve seen firsthand how this technology can transform financial institutions, and I am proud to be part of their leadership team. We are making history.”
Looking ahead, Viera is focused on continuing to drive advancements in AI and FinTech, influencing industry standards, and expanding ClearCloser’s global reach. Her passion extends beyond business success; she is committed to inspiring future generations, particularly young women, to pursue careers in technology and finance.
“I want young girls to see that they can do anything they set their minds to,” Viera says. “The tech world needs diverse voices and perspectives, and I hope my story can inspire others to break through the barriers they face.”
Viera’s career path has been anything but conventional. With a background in accounting, she approached her work with the mantra, “trust, but verify.” This mindset revealed the mortgage industry’s lack of verification processes, motivating her to start her own private lending business. Despite facing skepticism and resistance, Viera persevered, driven by her belief in more efficient and safer business methods. Her determination and innovative solutions have not only succeeded but also earned respect and validation from industry leaders. Through ClearCloser, she is not just building a company but creating a legacy that will withstand economic instability and set new standards in the financial industry.“Every challenge is an opportunity to innovate,” she says. “I want to show the world that with the right tools and mindset, we can avert crises while also creating a more transparent, efficient, and resilient financial system.”
