Membership-based commercial mortgage brokerage Gparency has announced Match to Lender, a software solution that gives commercial real estate borrowers the ability to search by loan and property type to access every single loan lender in their state, free of charge. This software is a complete departure from an endemic, legacy system where mortgage brokers would keep originator contacts close to vest and use that opacity to justify steep, commission-based fees, the company said.
Available now and until June 30, 2022, all borrowers can use the algorithm to access all of the originators in their state, putting the power back in their own hands. On June 30 and beyond, only lenders who are Gparency partners will display. For borrowers who have Gparency memberships, the open-source approach to listing lenders will remain.
“We knew when we started Gparency, it would turn the CRE industry upside down, in the best possible sense. We’ve created a democratized approach to pricing based on set fees, instead of bloated and opaque pricing using a mortgage broker,” said Ben Schweitzer, founder and chief product officer at Gparency. “With a hawkish Fed, market volatility and rising interest rates, a sea change is occurring. We welcome . lenders to take this opportunity to get on our platform, and see how many more deals they can originate with Gparency. We are the future of how CRE deals will be done going forward.”
He added, “Both lenders and borrowers are noticing a shift in consumer sentiment. People are seeking a subscription-based experience, as evidenced in sectors such as personal finance, medicine, retail, media and more. We are excited to see the swell of migration to the Gparency community continue, as our ecosystem continues to grow and benefit from this shift in peoples’ behavior.”
Gparency offers borrowers the ability to close their own mortgage deal, for no more than $16,000, regardless of deal size. Lending partners get total access to qualified deal flow for only $5,000 a year.
