A new partnership will develop and launch a state-of-the-art mortgage funding platform to digitally link mortgage funders with mortgage clients.
Mortgage solutions firm WINESTONE LAVAL and tech firm ASAPP will host credit unions and select financial institutions who will be able to apply credit liquidity to select mortgage opportunities based on a range of qualified risk profiles, and then select only those applications it wants to consider.
The lenders will also be able to decide which mortgage types and volumes they want to participate in; and they are expected to gain a competitive advantage from the data provided on the platform.
The firms believe that the platform offers an innovation for the mortgage industry enabling “just in time” mortgage funding through a secure environment.
"Partnering with ASAPP is a strategic step forward for our organization and will be a disrupter in the industry," says Michel Laval, President & Managing Director for WINESTONE LAVAL. "In this digital world, our online platform allows us to securely connect our clients seeking specific mortgage financing options in a modern way, anywhere and at any time. Connecting mortgage seekers and mortgage funders digitally lets us fulfill our mission of making the client experience more relevant to obtain a mortgage approval."
The name of the platform has yet to be announced but the firms will do so at an advisory board event to continue strengthening ties between credit unions/FIs and qualified mortgage seekers.
More market update: