MORTGAGE

Reduced introduces a white label mortgage platform

By Ajay Pandit

Jan 18, 2023

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The platform from Lower is designed to provide a "digital-first home finance experience swiftly and simply," the company said on Tuesday. 

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White-label alternatives are available that can be integrated into the partner's workflow via 

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application programming interfaces (API) and no-code solutions.

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The mortgage lender Lower, which has its headquarters in Columbus, Ohio, 

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recently launched a platform that allows consumer finance, banking, 

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and real estate firms to provide its mortgage products.

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Compared to the $7.89 billion in originations in 2021, $4.19 billion in production volume was generated in 2022, 

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according to the mortgage data platform Modex. 

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In 2022, refinances made up 42.1% of the total output, while purchase mortgages made up 52.4%.

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In October, the Ohio lender also made 6% fewer hires, leaving it with 1,200 workers across all of its divisions, 

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including retail, wholesale, and its direct-to-consumer arm Lower.com.

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The lender claimed the decision was made to appropriately scale back operations in areas of the company including 

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refinancing, operating training, and hiring that were most negatively impacted by choppy markets.