The brands will maintain distinct identities
Digital impact lender WLTH has acquired Mortgage Mart in a strategic move to enhance competition, leverage strengths, and provide a broader range of solutions for brokers and their customers.
Under this alliance, Mortgage Mart will transition into a wholly owned subsidiary of WLTH, with both brands maintaining their distinct identities. Current customers of both companies can expect seamless operations without immediate plans for substantial changes to Mortgage Mart or its structure.
Synergies between WLTH and Mortgage Mart
Mortgage Mart contributes 22 years of industry experience and strong broker relationships, while WLTH offers an innovative digital approach and appealing branding.
Brodie Haupt (pictured above), CEO and co-founder at WLTH, emphasised the complementary nature of the two businesses.
“Our intent is to continue to build upon the foundation that they [Mortgage Mart] have laid and look for ways to better leverage technology to improve the experience for brokers and their customers,” Haupt said.
“By introducing innovative new products and streamlining application processes, including auto-decisioning and electronic documentation, Aussies will be able to apply for Mortgage Mart loans in less than 15 minutes.”
WLTH’s sustainable impact
WLTH’s recent growth in the broker channel, driven by a focus on impact lending and sustainability, aligns with its mission to contribute to ocean cleanup efforts. For every settled loan, WLTH supports Parley for the Oceans in cleaning up 50 square metres of Australian beaches and coastlines.
“As a purpose-led organisation, our relationship with Parley for the Oceans allows us to use the platform we have created through our lending business to make lasting and significant change,” Haupt said. “For us, the ocean clean up isn't just about pretty beaches, it is about combating the rising issue of plastic pollution, and we’re excited to pass on this mission to the Mortgage Mart brand.”
Strategic integration and the Australian market
Wayne Armstrong, director at Mortgage Mart, views the merger as an exciting opportunity to enhance client services while integrating WLTH’s cutting-edge technology for a more efficient mortgage management experience.
“This strategic move is designed to provide our clients with a more streamlined and efficient mortgage management experience without compromising the qualities that have made Mortgage Mart a trusted partner for over two decades,” Armstrong said.
Haupt said he believes the momentum of digital mortgages in the US as a positive indicator for Australia’s market trajectory.
“Together, we aim to create a powerful force in the Australian mortgage market, providing brokers and their customers with a compelling alternative to the traditional banks,” he said. “The acquisition of Mortgage Mart brings us significantly closer to achieving our goal of making homeownership more accessible and affordable for all Australians.”
Haupt said he envisions an opportunity for the evolution and growth of the traditional mortgage management model, within which both Mortgage Mart and WLTH operate.
“The biggest challenge we see with traditional mortgage managers is that the process can vary significantly from funder to funder for both the broker and customer,” he said. “The majority of mortgage managers have a heavy reliance on the individual funder's process and customer portals.
“At WLTH, we developed a unique process and customer experience throughout the application and post-settlement to ensure a greater experience for all involved. Version 2 of our custom-built Broker Portal will ultimately act as a self-serve kiosk, creating an ecosystem built to help brokers.”
Leaders in SMSF lending for years, both companies have expanded into NDIS and co-living, currently piloting new products for modular homes and builder contributions while streamlining applications through auto-decisioning and electronic documentation.
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