Startup uses digital mortgage strategies to broker loans in new ways

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Sharp Credit – Credit News – Credit Information

A new company called Simplist is brokering mortgages using a mix of data, analytics and processes designed to help render quick, cost-effective decisions on a wide range of loans.

“One of the key gripes we kept hearing from people was that, when they got into a process with lenders, it would take a couple weeks,” said Chris de la Motte, president and co-founder of Simplist, and a former vice president at HPS Investment Partners.

Chris de la Motte

Chris de la Motte is president of Simplist.

In response to that feedback, Simplist aims to help mortgage applicants get clearer, actionable feedback on their applications sooner, regardless of whether they are W-2 employees or self-employed.

“We have the ability to help both traditional and less-traditional borrowers find the best mortgage,” he said.

Want to learn more about digital mortgages?

Simplist’s technology and data come from proprietary, third-party and public sources. It’s currently licensed as a broker in Connecticut, Colorado, Florida, New Jersey and Pennsylvania, and future plans include the geographic expansion of its footprint. It also is considering becoming a correspondent originator.

The New York-based company has raised $3.6 million in seed capital and is currently working with 25 lenders, according to a company press release.

Co-founder and CEO Anthony Sherman previously was a managing director at First Republic Bank, a vice president at Gibraltar Private Bank & Trust and an account executive at BAC Florida Bank.

The company’s third co-founder and vice president of engineering, Randy Sutton, previously was a vice president at BMO Capital Markets, an associate at Morgan Stanley and a senior software engineer for Weight Watchers.



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