Fintel acquires Mortgage Brain Holdings

This acquisition signals a major consolidation in the technology that powers mortgage and property financing. Fintel has officially acquired Mortgage Brain, a platform used by thousands of intermediaries to source and manage mortgage products. For retailers and operators in the housing or big-ticket financing space, this means the tools used to find and compare loans are getting more centralized. The deal combines Fintel’s data services with Mortgage Brain’s distribution network. For the average merchant, this likely leads to more integrated financing software in the future. You may see smoother 'point of sale' experiences for customers looking to secure home-related funding as these back-end systems merge. The goal of this acquisition is to create a more 'connected' ecosystem, reducing the friction between finding a financial product and getting a customer approved. While this is currently focused on the mortgage sector, the technology often trickles down into general consumer lending and home improvement financing. Expect more streamlined digital applications and better real-time data for lenders as a result of this merger.

Source: Finextra

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