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RE/MAX acquires fintech startup to help mortgage brokerage biz

RE/MAX acquires fintech startup to help mortgage brokerage biz

RE/MAX and wemlo

The acquisition of wemlo, a startup that delivers third-party home loan processing services, is a good investment within the company’s rapidly growing Motto Mortgage franchise business.

RE/MAX Holdings, the moms and dad business of this RE/MAX and Motto Mortgage franchise brands, established Tuesday the acquisition of wemlo, a 20-month-old, Florida-based fintech startup providing you with third-party home mortgage processing services.

Ward Morrison | Picture credit: Motto Mortgage

The purchase is a good investment in the company’s rapidly growing Motto Mortgage franchise company, which had its second-best quarter in business history during Q2 of 2020, growing t0 127 workplaces.

“The number 1 issue when you look at the home loan brokerage channel today is finding high quality processors,” Ward Morrison, the president of Motto Mortgage told Inman. Wemlo is Motto Mortgage’s treatment for that issue.

Wemlo’s technology that is key a “service cloud” for home loans, which combines third-party loan processing by having an all-in-one digital platform, so that they can get rid of the discomfort points of loan processing and technology fragmentation in the market. The purpose of the purchase would be to boost the rate and effectiveness of which Motto Mortgage franchise workplaces can process loans, making the brand more appealing for potential franchise owners.

Home loans usually don’t have actually the administrative centre to employ a loan processor because they’re perhaps perhaps not loans that are processing a scale that a home loan banker is.

“Our owners had been arriving at us and saying, ‘who would you suggest for processing?’ https://speedyloan.net/personal-loans-nj

so we did have tips nevertheless they had been disparate,” Morrison stated. Прочитать остальную часть записи »

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