Fulcrum Lending, a New York and Los Angeles based proptech multifamily mortgage company, announced an exclusive partnership with Northmarq, a commercial real estate industry leader in financing, loan servicing and investment sales with $22 billion in 2021 lending.
Founded in June 2021, Fulcrum Lending’s LoanCenter platform enables clients to access loan pricing on multifamily properties in real-time, along with market insights and other investor tools not available through a traditional lender.
The partnership with Northmarq will enable Fulcrum Lending to underwrite loans through its platform directly, completing Fulcrum Lending’s offering as a full-service digital lender.
Fulcrum Lending was founded by proptech veterans Maxwell Wu and Kenneth Mendonça. Wu, who serves as chief executive officer, was previously chief underwriter at TapCap, a real estate technology company, which he helped grow from its initial spinout from Greystone to more than $1.3 billion in multifamily loan requests in its first two quarters. Mendonça, who serves as chief technology officer, was previously the lead engineer at both TapCap and Greystone, where he led all platform development and architecture for their digital lending platforms.
In addition to offering data-driven advice to investors, Fulcrum Lending provides small and medium-sized brokerages with its technology and direct lending channels in exchange for their boots on the ground presence in secondary and tertiary markets. Fulcrum Lending Corporation will continue its expansion nationwide, exclusively working with select mortgage brokerages that align with their mission to offer a digital, transparent and personalized lending process for borrowers large and small.