RE/MAX and wemlo
The purchase 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 company.
RE/MAX Holdings, the moms and dad business regarding the RE/MAX and Motto Mortgage franchise brands, announced Tuesday the purchase of wemlo, a 20-month-old, Florida-based fintech startup providing you with third-party home loan processing services.
Ward Morrison | Photo credit: Motto Mortgage
The purchase is a good investment in the company’s rapidly growing Motto Mortgage franchise business, which had its second-best quarter in business history during Q2 of 2020, growing t0 127 workplaces.
“The number one issue into 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 key technology is a “service cloud” for home loans, which combines third-party loan processing with an all-in-one digital platform, so as to eradicate the pain points of loan processing and technology fragmentation in the market. The purpose of the purchase will be boost the efficiency and speed of which Motto Mortgage franchise workplaces can process loans, making the brand name more desirable for potential franchise owners.