wemlo® Expands Third-Party Mortgage Loan Processing Services with Addition of New Loan Products and Lender Partners

Company expands processing support for ITIN, USDA and 203(k) loan products and adds lenders Acra Lending, First National Bank of America and LoanStream Wholesale Mortgage

BOCA RATON, Fla., Aug. 2, 2023 /PRNewswire/ -- wemlo^®, the first third-party mortgage processing solution with an all-in-one digital platform, today announces it has expanded its list of participating lenders and added support for new loan products to provide mortgage brokers a seamless processing experience and empower them to better serve the needs of their borrowers.

Home loans are not a one-size-fits-all solution and wemlo understands that what mortgage brokers need most from a third-party processor is accessibility, and flexibility. That's why the company, who was named a 2022 Service Partner of the Year by the National Association of Mortgage Brokers (NAMB), participates with over 30 of the leading lenders and has a highly trained team that's proficient in more than a dozen loan products to provide clients more flexibility to find the loan that meets the unique needs of each borrower. Now, wemlo has expanded its catalog of participating lenders with the addition of Acra Lending, First National Bank of America and LoanStream Wholesale Mortgage.

The company is consistently adding processing services for new loan products, especially those that help make homeownership more accessible to diverse groups of borrowers. Most recently, wemlo added support for Individual Tax Identification Number (ITIN) loans, a non-QM loan which allows non-citizens without a Social Security number to potentially qualify for a mortgage loan if they meet credit score and down payment eligibility requirements. Also new to the product list are USDA loans for low- and moderate-income applicants in rural areas, and 203(k) loans, a renovation mortgage insured by the Federal Housing Administration (FHA) that allows buyers to use the loan to finance home improvements.

"At wemlo, we're on a mission to solve the #1 problem in the mortgage broker channel – the lack of quality processing support. And we're doing just that by directly connecting brokers across the United States with one of the nation's largest processing networks," said Chelsea Balak, wemlo's VP of Operations. "Our commitment to our clients is to offer unparalleled service offerings and the highest level of customer service so mortgage brokers and loan originators can increase productivity, manage bigger pipelines and focus on growing their business."

Built with speed, efficiency, and security in mind, wemlo's award-winning loan processing technology seamlessly manages demand, allows for automation, and streamlines communication. Made for mortgage brokers and loan originators, the wemlo platform features a secure borrower portal and unique brokerage dashboard which allows mortgage loan originators to access borrower information, monitor the status of any loan, securely upload documents and more — all with a few clicks, making the entire mortgage transaction easier.

wemlo is currently authorized to do business in 47 states, plus Washington, D.C. For a full list of states and pricing information, visit www.wemlo.io/pricing.

To learn more about how wemlo can help mortgage brokerages and loan originators work more efficiently, book a 15-minute demo with a wemlo representative today.

About wemlo
wemlo^® NMLS #1853218, is a technology-focused mortgage loan processing company that is reshaping the mortgage broker channel. It developed the first service for mortgage brokers, combining third-party loan processing with an all-in-one digital platform. Its product is marketed and sold to mortgage brokerages and loan originators across the country. Wemlo is a subsidiary of RE/MAX Holdings, Inc., which includes RE/MAX^®, one of the world's leading franchisors of real estate brokerage services, and Motto Mortgage^®, the first-and-only national mortgage brokerage franchise brand in the U.S.

SOURCE wemlo