In accordance with RE/MAX, the 20-month-old, Florida-based startup developed the primary “Service Cloud” for mortgage brokers, combining third-party mortgage processing with an all-in-one digital platform. Its product reportedly provides the one enterprise-grade resolution of its type within the mortgage brokerage house.
“The acquisition of wemlo is an funding in our high-growth Motto Mortgage enterprise, because it helps deal with 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 progress alternatives, reinforcing our M&A technique of including modern corporations 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 solution to handle mortgage mortgage processing, and we’re excited that its affect will increase throughout the nation,” Rogove mentioned.
The product’s underlying expertise makes it straightforward 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 assist,” Gelley mentioned.
Ward Morrison, president of Motto Franchising, LLC, famous that by growing the velocity and effectivity of mortgage mortgage processing, the acquisition will elevate the shopper expertise for debtors served by Motto Mortgage workplaces, which in flip may also help Motto Mortgage franchises increase 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 need to miss,” Morrison mentioned. “The acquisition will create extra aggressive benefits for Motto Mortgage franchises. Furthermore, as a result of demand for high quality processing assist within the mortgage dealer channel, wemlo will preserve serving its shoppers and proceed to market its end-to-end resolution all through the mortgage brokerage business.”
Gelley and Rogove will proceed to steer the wemlo workforce, with operations staying primarily based close to Fort Lauderdale. They’ll work intently with the Motto Mortgage expertise workforce in Denver to plan and execute integrations inside the Motto Mortgage product ecosystem whereas additionally utilizing their business data to advance the wemlo roadmap for unbiased mortgage brokerages.
The underside line, Contos mentioned, is that the just about four-year-old Motto Mortgage model continues to evolve and make massive strikes.
“Ward and his workforce have accomplished an impressive job of turning the startup Motto Mortgage model right into a rising star within the house,” Contos mentioned. “Including the product line of this like-minded startup innovator provides firepower to the Motto Mortgage worth proposition and unlocks super general progress potential for RE/MAX Holdings within the mortgage dealer channel.”
For extra data, please go to www.remax.com.