RE/MAX acquires fintech startup to help home loan brokerage biz

RE/MAX and wemlo

The purchase of wemlo, a startup providing you with third-party home loan processing services, is a good investment in the company’s rapidly growing Motto Mortgage franchise company.

RE/MAX Holdings, the moms and dad business regarding the RE/MAX and Motto Mortgage franchise brands, established Tuesday the purchase of wemlo, a 20-month-old, Florida-based fintech startup providing you with third-party home loan 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 within the mortgage brokerage channel today is finding quality that is good,” Ward Morrison, the president of Motto Mortgage told Inman. Wemlo is Motto Mortgage’s means to fix that issue.

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

Read More