Loan Processing Powerhouse wemlo^® Celebrates a Year of Record Growth, Expands Service Offerings with Addition of Five New Supported Lenders

Coming off a record year of growth, wemlo® is making waves in the mortgage industry by providing brokers with a flexible, effective option for third-party loan processing. Since the company’s acquisition in 2020, wemlo has helped hundreds of brokers across the United States increase productivity, manage bigger pipelines, and grow their businesses.

The brand, which was recently named a National Association of Mortgage Brokers (NAMB) Service Partner of the Year for mortgage loan processing for the second consecutive year, continues to build momentum as brokers across the country experience the benefits of its third-party processing services. In 2023, wemlo added 138 new mortgage brokerages to its roster resulting in a 23% year-over-year increase in customers served, and processed nearly 1,950 loans, experiencing a 43% increase in Clear to Closes (CTCs) compared to the previous year. Furthermore, the wemlo processing team averaged 20 business days to get a loan from submission to closing, blowing the industry average of 49 days* out of the water.

“At wemlo, our mission is to provide highly qualified, customer-centric processing talent with easy-to-use technology and access to an extensive list of supported lenders and loan products to meet the unique needs of mortgage brokers and their clients,” said Chelsea Balak, vice president of operations at wemlo. “We strive to offer unparalleled service with industry-leading offerings to help our customers get effective results, fast. That’s why we’ve continued to grow our processing support and expand our service offerings to keep up with the evolving needs of the broker channel.” 

The wemlo team is trained and highly proficient in more than a dozen loan products from over 30 leading wholesale lenders including Conventional, FHA, Jumbo, VA, USDA, Second Mortgage, Non-QM, DSCR & Bank Statement, Specialized Borrower Down Payment Assistance loans and down payment assistance, Manufactured Home and Construction loans, plus VA IRRRL, ITIN, 203(k) and FHA Streamline loans. To further expand its service offerings this year, wemlo added five new supported lenders to its roster including Windsor Mortgage, Loan Simple Wholesale, NexBank, Union Home Mortgage, and GMFS Partners. 

In other news, wemlo’s corporate headquarters in Boca Raton, Florida, was recently appointed to Scotsman Guide’s inaugural list of 2024 Top Workplaces. This isn’t the first time the company has been named a top place to work, previously taking the gold ranking in the 2023 Most Loved Mortgage Employer Awards by National Mortgage Professional and named a 2022 Top Mortgage Employer by Mortgage Professional America. The company is currently accepting applications for numerous roles based out of its corporate office in Florida. To explore career opportunities, visit wemloCareers.com. 

The processing company is currently authorized to do business in 47 states, plus Washington, D.C. For a full list of states and product support information, visit www.wemlo.io/powerhouse. Visit www.wemlo.io for more information or to schedule a 1:1 meeting with the team today. 

Read the press release on PR Newswire here.

*According to ICE Mortgage Technology’s 2021 Origination Insight Report.