To help consumer brands offer mortgage product services to their customers, Lower has debuted a Mortgage as a Service (MaaS) platform. After piloting the service, Opendoor has moved its mortgage fulfillment to Lower exclusively.
Through the MaaS platform, Lower provides a solution for consumer finance, banking and real-estate brands to offer a digital-first home financing experience quickly and easily, with white-label options available. It can be embedded into the partner’s customer journey through API and no-code solutions.
To lead the new platform, the company has named Chelsea Wagner senior vice president of partnerships.
“Nearly every proptech and fintech company we talk to has some version of home lending on their roadmap. It’s a natural value add, but until now there wasn’t a solution. Our infrastructure and expertise make us uniquely positioned to accelerate a new mortgage offering,” said Wagner. “We believe the demand will be high for this product as a new, easily implemented product offering for companies.”
The MaaS offering immediately allows companies to offer their consumers home financing options, while expanding their lending footprint to more than 93% of the U.S. population. Customers will have access to Lower’s full suite of products tailoring loan options to their specific needs
