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Motto Mortgage, a subsidiary of major real estate franchise RE/MAX Holdings, Entrepreneur MagazineDespite tough conditions for mortgage lenders, we have been named to the 2024 Franchise 500 list for the fifth year in a row.
entrepreneur‘s Franchise 500 ranking evaluates franchise opportunities based on 150 data points organized into five “pillars”: costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. doing. To compile the 2024 Franchise 500, Entrepreneur evaluated 1,389 participating franchise systems and analyzed documents for the year ending July 31, 2023.
“Motto Mortgage takes the heavy lifting for our franchisees by simplifying our franchise model and relying on cutting-edge technology.” entrepreneur Regarding the company’s inclusion on the list. “Additionally, the Motto Mortgage network is designed with compliance in mind and tailored to complement your business, serve your customers and build your career.”
Founded in 2016, Motto Mortgage does not originate loans, but is a technology, compliance, training and marketing solution for mortgage brokers who work with wholesale lenders. The company’s “mortgage brokerage services” are available to RE/MAX affiliates, real estate brokers, and entrepreneurs. RE/MAX also provides third-party loan processing services to mortgage brokers through another subsidiary, wemlo, which it acquired in 2020.
ward morrison
“What makes the Motto brand unique is that each office is not only independently owned and operated by mortgage professionals who understand the nuances of the local market, but also provide the best service for our customers. We’re proud to have the support of an established brand that gives us the tools we need to deliver,” Ward Morrison, president and CEO of Franchising LLC, said in a statement.
Our motto is to provide franchise owners and loan originators with “comprehensive support and continuing education, an ecosystem of technology tools that create a smoother loan and customer experience, compliance guidance, onboarding assistance, and loan options tailored to your needs.” It provides connections to a wide range of wholesale lenders with We meet the needs of a variety of home buyers. ”
More Mortgage Franchise 500 Rank 2020-2024
Source: Entrepreneur Magazine.
Motto Mortgage was first named to the Franchise 500 list in 2020 and has dropped down the rankings every year since 2021, when it achieved its highest ranking of #147 for Best Franchise Opportunities.
Rising mortgage rates are creating a difficult situation for lenders. Refinance demand has all but evaporated, and purchase loan originations have declined as homebuyers grapple with soaring prices and a shortage of properties in many markets.
Motto Mortgage ranked 306th on the Franchise 500 list in 2022 and 403rd in 2023, dropping to 487th this year, but with three entrants in the “Other Financial Services” category It was chosen as the 1st place.
Mott Mortgage’s headquarters in Denver was also named first on The Scotsman Guide’s 2024 Top Workplaces list. As of Monday, Mott Mortgage and Wemro had six jobs posted on the RE/MAX job board.
Motto Mortgage Office Growth, 2018-2023
Source: Inman analysis of RE/MAX earnings report.
According to RE/MAX, Motto Mortgage had 242 offices as of September 30, 2023, an increase of 15% from the previous year.
Motto Mortgage’s number of open offices and wemlo loan processing volume increased year over year, but “market conditions slowed the pace of Motto franchise sales,” the company said. RE/MAX sold 22 Motto Mortgage franchise licenses in the first nine months of 2023, a 33% decrease from the same point in 2022.
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