Fintech Startup Maxwell Financial Labs Adds Ex-Fannie Mae Lawyer

Maxwell Financial Labs Inc., a digital mortgage platform serving more than 300 local lenders, has hired longtime former Fannie Mae in-house lawyer A. Sonny Abbasi as its first general counsel.

Abbasi oversees all legal, compliance, and data-protection functions in his role at the company, where he said he aims to build an in-house team of about five lawyers.

“Someone like me who has, frankly, seen heavy combat at Fannie Mae—I was there during the accounting restatement and credit crisis—should be reassuring to our clients and Maxwell that we’re going to do it right,” Abbasi said.

Maxwell, which has raised nearly ...