Motto Mortgage Celebrates 5th Birthday, Reflects on Growth and Looks to Future
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.
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
"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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