, an progressive fintech firm that gives third-party mortgage mortgage processing providers.
Wemlo is a 20-month-old startup that’s reshaping mortgage mortgage processing within the mortgage dealer channel. The corporate developed the primary “Service Cloud” for mortgage brokers, combining third-party mortgage processing with an all-in-one digital platform. Its product presents the one enterprise-grade resolution of its variety within the mortgage brokerage area.
“The acquisition of wemlo is an funding in our high-growth Motto Mortgage enterprise, because it helps handle one of many mortgage brokerage channel’s largest ache factors – ineffective mortgage mortgage processing,” mentioned Adam Contos, CEO of RE/MAX Holdings. “This tuck-in acquisition additionally diversifies our income and development alternatives, reinforcing our M&A method of including progressive firms that ship worth and enhance the shopper expertise.”
David Rogove, a wemlo co-founder, mentioned the acquisition will assist wemlo scale and develop its operations throughout the mortgage dealer channel.
“Our platform is a streamlined resolution that gives a greater technique to handle mortgage mortgage processing, and we’re excited that its influence will broaden throughout the nation,” Rogove mentioned.
The product’s underlying expertise makes it simple to make use of, added wemlo co-founder Steven Gelley. “The platform has automated duties and an intuitive framework, enabling mortgage processors of any expertise stage to handle the workflow and supply a excessive stage of service to the mortgage originators they help,” Gelley mentioned.
Motto Mortgage connects actual property brokerages to a separate, franchised mortgage brokerage, streamlining limitations of entry to the mortgage lending trade. Ward Morrison, president of Motto Franchising, LLC, famous that by rising the pace and effectivity of mortgage mortgage processing, the acquisition will elevate the shopper expertise for debtors served by Motto Mortgage places of work, which in flip may also help Motto Mortgage franchises broaden their enterprise.
“Motto Franchising and wemlo are trailblazers that share a ardour for the mortgage brokerage channel. Combining forces was a possibility we didn’t wish to miss,” Morrison mentioned. “The acquisition will create extra aggressive benefits for Motto Mortgage franchises. Furthermore, because of the demand for high quality processing help within the mortgage dealer channel, wemlo will maintain serving its purchasers and proceed to market its end-to-end resolution all through the mortgage brokerage trade.”
Gelley and Rogove will proceed to guide the wemlo group, with operations staying based mostly close to Fort Lauderdale. They’ll work carefully with the Motto Mortgage expertise group in Denver to plan and execute integrations inside the Motto Mortgage product ecosystem whereas additionally utilizing their trade data to advance the wemlo roadmap for unbiased mortgage brokerages.
Photograph courtesy of Motto Mortgage