DENVER, Oct. 25, 2021 /PRNewswire/ -- Five years ago
today, RE/MAX Holdings, Inc. Chairman and RE/MAX® Co-Founder
Dave Liniger stood on a stage in
Texas and launched a bold new way
for real estate professionals to extend their reach and enter the
mortgage brokerage space. He was joined onstage by Ward Morrison, who would lead an innovative new
brand called Motto® Mortgage, the first national mortgage brokerage
franchise in the U.S.
Motto Mortgage expands nationwide footprint, announces integration
with wemlo Loan Brokering System technology
Much has happened since October
2016. The award-winning, fast-growing brand has become one
of Liniger's lasting legacies, transforming the mortgage industry.
Today, the network comprises more than 175 open offices across
almost 40 states and the District of
Columbia.
"While we are selling Motto Mortgage franchises near-record pace,
so far this year we've opened more offices than we've sold. We're
aiming to reach 200 open offices by the end of 2021," said
Morrison, president of Motto Franchising, LLC. "Our nationwide
footprint of more than 175 open offices illustrates the appeal of
the Motto Mortgage brand as a turnkey solution. Franchisees see
immense value in their ability to establish a mortgage company with
a robust loan product mix, results-oriented growth education, a
sophisticated national brand, award-winning technology automations,
and comprehensive compliance, technology and marketing support —
all before their first day of operation."
Motto Franchising recently launched an approved supplier
program, offering the Motto Mortgage network healthcare and payroll
options that are provided, respectively, by America's Back Office
and Paychex.
Additionally, with the RE/MAX Holdings, Inc. acquisition of
wemloSM last year, Motto Mortgage offices now have
access to an operationally ingrained third-party loan processing
team that is held to the same high standards of customer service
that have come to define the Motto Mortgage brand.
Last week, wemlo announced its Loan Brokering
System℠ (LBS℠), a revolutionary new technology that was built
to meet the needs of the mortgage loan originator with a focus on
their specific compliance priorities and workflows. And, more
importantly, the streamlined wemlo LBS doesn't require brokers to
navigate through irrelevant system tasks designed for other lending
channels.
"We spent years gathering real-world experiences from hundreds
of Motto Mortgage loan originators to understand exactly where
traditional origination systems fall short for the broker channel,"
explained Dustin Morton, vice
president of product and strategy for wemlo and Motto Franchising.
"Our consistent takeaways were about how we leverage life's most
valuable resource — time. Our technology teams know that every
minute spent re-engineering retail lending components in ancient
loan systems was a minute that wasn't spent developing value-add
solutions for our franchises. Our loan originators realize that
every moment spent clicking 'skip' in software is a moment not
spent helping borrowers achieve their home ownership dreams. Our
network offices needed the efficiencies of a purpose-built
platform, and the broker channel deserves modern technology that
simplifies the loan process."
The wemlo LBS will officially launch to the public in
January 2022, but Motto Mortgage
offices will be granted first access to onboarding this year. Motto
Mortgage brokerages receive the LBS platform at no additional fee,
as well as discounts on the integrated wemlo third-party loan
processing offerings and exclusive LBS product features.
Since its inception, Motto Franchising has sold an average of
one new franchise a week, with over 250 sold to date, and aspires
to open over 1,000 franchises within the next several years.
Approximately 75% of Motto Mortgage brokers are small business
owners in real estate or related industries, hanging their licenses
with brands such as RE/MAX, Keller Williams, Century 21, eXp,
Allstate and more — all looking to vertically integrate their
offerings by opening an ancillary mortgage business. Loan
originators looking to open a mortgage brokerage with
enterprise-level tools and support, and investors looking to expand
into a financial franchise system make up the remaining 25% of
franchise owners.
"Five years ago, we bet on the mortgage broker channel, and it
has proved to be one of the best decisions we've made as a
company," said Adam Contos, CEO,
RE/MAX Holdings, Inc. "The Motto Mortgage brand is an integral part
of our portfolio and as we continue to rapidly grow our mortgage
segment, I am bullish about the future. This franchise is one
you'll want to keep a close eye on — we are doing big things."
Motto Mortgage, a Mortgage Brokerage-in-a-BoxSM,
offers small business owners a meaningful way to diversify their
revenue streams. The Motto Mortgage model creates an ancillary
business for current real estate brokerage firms, but also offers
opportunities for mortgage professionals seeking to open their own
businesses and independent investors interested in financial
services.
The Motto Mortgage network celebrated the brand's 5th birthday
during the 2021 Motto MILE Summit earlier this month in
Orlando. The 4th annual
conference was sponsored by America's Back Office, BLINKSwag,
Caliber Home Loans, Clear to Close, LLC, Credit Plus, Fairway
Independent Mortgage, Finance of America, Homepoint, Michigan
Mutual Mortgage, Mortgage Educators and Compliance, Mortgage
Processing Specialists, National Title Solutions, Inc., Paychex,
Plaza Home Mortgage, Total Expert, We Insure, wemlo and Xendoo.
About Motto Mortgage
The Motto Mortgage network is breaking the mold by giving the
power of choice back to consumers with less jargon, more
transparency, and even more options to choose from as they shop for
the right home loan. With over 175 offices open in almost 40
states, Motto Franchising, LLC's unique national franchise mortgage
brokerage model is the first of its kind in the United States. Created to disrupt the
mortgage industry, the Motto Mortgage network connects loan
originators and real estate agents to provide a seamless,
personalized experience and one-stop shop for consumers. Motto
Mortgage is part of RE/MAX Holdings, Inc. (NYSE: RMAX). Each
Motto Mortgage office is independently owned, operated and
licensed. To learn more about Motto Mortgage, or for license
information for a Motto Mortgage office,
email newsroom@mottomortgage.com, or
visit www.mottomortgage.com/offices.
This information is not intended as an offer to sell, or the
solicitation of an offer to buy, a Motto Mortgage franchise. It is
for informational purposes only. We will not offer you a franchise
in states or other jurisdictions where registration is required
unless and until we have complied with applicable pre-sale
registration requirements in your state (or have been exempted
therefrom) and a Franchise Disclosure Document has been delivered
to you before the sale in compliance with applicable law.
New York residents: This
advertisement is not an offering. An offering can be made by
prospectus only. Minnesota Reg. No. F-8089; Motto Franchising, LLC,
5075 South Syracuse St #1200, Denver,
CO 80237, 1.866.668.8649.
Forward Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are often identified by the use of words such as
"believe," "intend," "expect," "estimate," "plan," "outlook,"
"project," "anticipate," "may," "will," "would" and other similar
words and expressions that predict or indicate future events or
trends that are not statements of historical matters.
Forward-looking statements include statements related to: Motto
franchise sales; the benefits of acquisitions, the launch of the
wemlo Loan Brokering System; the growth of the mortgage segment;
and strategic and operating plans and business models or RE/MAX
Holdings and its affiliates (collectively, the "Company").
Forward-looking statements should not be read as a guarantee of
future performance or results and will not necessarily accurately
indicate the times at which such performance or results may be
achieved. Forward-looking statements are based on information
available at the time those statements are made and/or management's
good faith belief as of that time with respect to future events and
are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. These risks and
uncertainties include the global COVID-19 pandemic, which continues
to pose significant and widespread risks to the Company's business,
including the Company's agents, loan originators, franchisees and
employees, as well as home buyers and sellers. Other important
risks and uncertainties include, without limitation, (1) changes in
the real estate market or interest rates and availability of
financing, (2) changes in business and economic activity in
general, (3) the Company's ability to attract and retain quality
franchisees, (4) the Company's franchisees' ability to recruit and
retain real estate agents and mortgage loan originators, (5)
changes in laws and regulations, (6) the Company's ability to
enhance, market, and protect its brands, (7) the Company's ability
to implement its technology initiatives, and (8) fluctuations in
foreign currency exchange rates, and those risks and uncertainties
described in the sections entitled "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the most recent Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission ("SEC") and similar disclosures in subsequent
periodic and current reports filed with the SEC, which are
available on the investor relations page of the Company's website
at www.remax.com and on the SEC website at www.sec.gov. Readers are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date on which they are made.
Except as required by law, the Company does not intend, and
undertakes no obligation, to update this information to reflect
future events or circumstances.
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SOURCE Motto Mortgage