RE/MAX is launched a mortgage brokerage franchise called Motto Mortgage and will open franchises nationwide.
Motto Mortgage brokerages will be located within RE/MAX offices, which, according to RE/MAX, will create a “one-stop shop” for home buyers.
RE/MAX announced the news in a press release Tuesday:
“Motto Mortgage will open mortgage franchises throughout the U.S. increasing competition in the industry, resulting in more choice and a better experience for consumers. Its loan originators will work with real estate offices so that agents can help home buyers obtain the mortgage loans that best fit their individual needs."
RE/MAX CEO, Chairman and Co-Founder Dave Liniger said this will help mortgage brokers and consumers alike. “We know that independent mortgage brokers' share of the mortgage origination market dropped significantly following the economic downturn, falling from a 15-year average of 22%– with a high of 35% in 2006 - to 10% in 2015,” Liniger said. “Mortgage brokers bring choice and service to the consumer and Motto Mortgage will work to expand the market share of mortgage brokers and bring better mortgage choice and service to consumers as a result.”
Motto Mortgage will inspire new specialists to join the profession by offering them tools, resources and a built-in relationship with a real estate brokerage, including direct access to agents.
"We look forward to the return of mortgage brokers and skilled loan originators to the market," said newly named Motto Mortgage President Ward Morrison, who has been with RE/MAX, LLC for 11 years and most recently served as Vice President, Region Operations and Business Opportunities. "Our priorities will be educating, training and supporting our franchisees so that they can provide exemplary customer service to their clients."