Mortgage rates have hit historic lows with demand for housing surging as a result of the pandemic. Nonbank mortgage lenders issued 68.1% of all mortgages originated in 2020, up from 58% the year earlier. With so many options for consumers, navigating the process can be arduous. Morty is an online mortgage place that brings all mortgage options for borrowers into a centralized platform where they can manage all facets of the mortgage process from origination to closing. Purchasing a home is often the biggest financial decision for consumers and ensuring that you are getting a competitive rate has tremendous financial ramifications – a small difference in rate can translate to thousands of dollars in payments or savings. During the pandemic, revenue grew 800% year-over-year with the platform processing more than $500M in new loans. Morty is licensed to operate in 36 states and the District of Columbia. AlleyWatch caught up with CEO and Cofounder Nora Apsel to learn more about the experience of building a digitally-native mortgage marketplace, the company’s strategic plans, latest round of funding from investors that include March Capital, Rethink Impact, Thrive Capital, Lerer Hippeau, Prudence Holdings, MetaProp, and FJ Labs.
18 new fundings; $465M+ pumped into the NYC startup economy this past week. NYC Tech News for the week ending 7/17 featuring news for Lightyear, Ribbon Home, Vistar Media, and much, much more.
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 7/14/2021 featuring funding details for Morty, Cohley, and much more.
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