CEO is bullish about the future
RE/MAX Holdings is celebrating the fifth anniversary of its mortgage brokerage franchise, Motto Mortgage.
Since its launch in 2016, the Motto Mortgage network has grown to more than 175 open offices across almost 40 states and the District of Columbia. In addition, the company has sold over 250 “mortgage brokerages-in-a-box” – an average of one new franchise in a week – and projects to open over 1,000 brokerages within the next several years.
“While we are selling Motto Mortgage franchises at a 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 Motto Franchising president Ward Morrison. “Our nationwide footprint of more than 175 open offices illustrates the appeal of the Motto Mortgage brand as a turnkey solution.”
Read more: Motto Mortgage full-year results top expectations
“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 of RE/MAX Holdings. “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.”
The anniversary comes on the heels of the launch of wemlo’s Loan Brokering System (LBS), which will officially launch in January 2022 but will be available to Motto Mortgage offices this year. Wemlo was acquired by RE/MAX last year and now provides the mortgage broker channel access to advanced technology and a third-party loan processing team. Motto Mortgage brokerages will have access to 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.
“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,” said Dustin Morton, vice president of product and strategy for wemlo and Motto Franchising. “Our network offices needed the efficiencies of a purpose-built platform, and the broker channel deserves modern technology that simplifies the loan process.”
