RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

RE/MAX’s Wemlo Launches Loan Brokering System

Home Brokers
By RISMedia Staff
October 20, 2021
Reading Time: 2 mins read
1
RE/MAX’s Wemlo Launches Loan Brokering System

Wemlo,SM recently announced the upcoming launch of a new technology that aims to transform the mortgage brokerage industry.

The wemlo Loan Brokering System℠ (LBS℠) was developed to empower mortgage loan brokers with purpose-built loan software that understands the specifics of their business, compliance priorities and workflows. According to the company, mortgage brokerages will no longer have to settle for using only a portion of big, expensive loan origination systems that were developed decades ago for the retail channel.

“Unlike other mortgage loan origination systems and software on the market, the wemlo Loan Brokering System is the first solution built specifically for the broker channel based on a close partnership between high-producing mortgage brokers and enterprise-focused mortgage technologists,” said wemlo president Ward Morrison in a statement.

“We originally began developing this technology for loan processors when we could not find existing solutions that met their specific needs in the broker channel,” said Dustin Morton, vice president of product and strategy for wemlo, in a statement. “When we launched processing solutions and began to see results showing that intentional, broker-first software could make our processors more efficient and effective, the next step was to bring this powerful tool to loan brokers industrywide whose businesses are also typically forgotten by legacy mortgage software providers.”

Wemlo’s LBS was created specifically to enable mortgage loan originators (MLOs) to close more loans each month while providing the seamless digital mortgage experience expected by today’s homebuyers. The system interface includes virtually all the functions MLOs need, according to the company, while leaving out extraneous functions that just get in the way. Features include enhanced Automated Underwriting System (AUS) feedback, which provides suggestions for resolving common loan structuring challenges; a borrower portal that allows borrowers to track the status of their loan in real-time; and in-platform communication options that foster on-time closings by keeping the broker, loan processor, title company, real estate agents and borrowers all in close contact.

A guiding design principle for the software was to eliminate all manual and duplicative data entry, said the company.

“A fascinating challenge for our development team was to reduce our users’ time spent in the system. For us, success comes when MLOs are logged out of the LBS and able to cultivate referral relationships for their next loan,” said Morton. The system is focused on making the loan and application process more efficient for both loan originators and hopeful homebuyers. After the 1003 loan application is finalized, the LBS sends broker disclosures and prepares loan data for submission to the wholesale lender—all in one click. For the next steps, MLOs can either leverage the power of the wemlo processing platform for themselves or they can send the loan to wemlo’s third-party loan processing team.

“There’s no other origination technology that comes with a processing team built-in. We expect the power of the LBS to mean more loans per month for MLOs, and when business booms, wemlo loan processors are only a click away from supporting that bursting pipeline,” said Chelsea Balak, wemlo vice president of Operations, in a statement.

Wemlo is part of RE/MAX Holdings. For more information, please visit www.remax.com.

Tags: FinancialsIndustry NewsLendingLoanMortgageRE/MAXReal Estate Brokeragereal estate newsWemlo
ShareTweetShare

RISMedia Staff

Related Posts

ERA Real Estate Expands Presence in Central San Joaquin Valley
Agents

ERA Real Estate Expands Presence in Central San Joaquin Valley

January 30, 2023
JPAR®–Real Estate Named a 2023 Top Franchise by Franchise Business Review
Agents

JPAR®–Real Estate Named a 2023 Top Franchise by Franchise Business Review

January 30, 2023
How to Debunk 4 FSBO Myths
Agents

How to Debunk 4 FSBO Myths

January 29, 2023
Thoughts on Leadership: Lessons From Katherine Johnson
Brokers

Thoughts on Leadership: Lessons From Katherine Johnson

January 29, 2023
How to Leverage Virtual Staging for Your Listings (and Why It Works)
Best Practices

How to Leverage Virtual Staging for Your Listings (and Why It Works)

January 28, 2023
Inflation May Be Slowing, but so Is Consumer Spending
Agents

Inflation May Be Slowing, but so Is Consumer Spending

January 27, 2023

Comments 1

  1. SR VAVILLA says:
    1 month ago

    Hi
    Good post, useful to the visitors, and nice to know about your web page through google search
    Here I want to share something about loan management software which is very useful I found through reading a blog page that really enrich my knowledge so I thought it may be useful to the audience.

    The loan management market is experiencing substantial growth and is expected to expand, owing to the rise in penetration of lending institutions across the globe. loan management software is a technological service platform, which is designed to help borrowers and lenders to manage the loan process.

    Loan software is helping lenders to streamline and automate loan origination and processing. A loan servicing software not only automates these procedures but also provides useful analytics and insights for lenders and borrowers. The automated process of giving such a solution to your clients may greatly speed up your company’s growth in terms of a growing customer base and greater customer loyalty.
    so that’s why Loan administration systems are essential in today’s lending and loan servicing operations as they streamline their processes
    I suggest an article because that article has really piqued my interest and I want to share it with you so please check out-
    Loan Management Software

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

The Great Housing Market Correction of 2023

For much of the past two-and-a-half years, it has been a housing market free-for-all, with bidding wars, multiple offers over... Read more.

Business Tip of the Day provided by

Recent Posts

  • ERA Real Estate Expands Presence in Central San Joaquin Valley
  • JPAR®–Real Estate Named a 2023 Top Franchise by Franchise Business Review
  • How to Debunk 4 FSBO Myths

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2023 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2023 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X