Fintech Milo, a company offering international clients direct lending mortgage options, has unveiled a new broker unit for wholesale mortgage partners across the U.S.
With a fully digital lending service, Milo provides foreigners loan and mortgage team processing expertise for over 50 years.
The loan procedure of the company is totally transparent. Unlike a regular mortgage, it only needs relatively lesser documentation. Besides, it is supported by a skilled staff that specializes in foreign house mortgages.
Milo can provide direct lending flexibility at rates that rival banks. Foreign investors can cash out loans, take out new purchases, and refinancing at more reasonable rates than regular banks. In contrast, traditional loan options come with interest rates that are significantly higher.
The direct lender can offer quick closings that are backed by reliable funding. Due to administrative constraints, this exact solution has proven difficult to get for clients of mortgage brokers.
Non-US citizens have typically been unable to get mortgages owing to restrictions imposed by U.S. borrower rules. Milo provides a lending service that eliminates the barriers that force foreign nationals to make cash payments or adhere to high interest rates.
Partners of wholesale mortgage will be able to offer lending solutions online to their foreign customers via the new broker division. They can secure a loan without having to travel to the United States and complete house loans in weeks rather than months.
The fintech company is presently looking for mortgage brokers that work with global clients and overseas citizens.
Josip Rupena, CEO of Milo, said that the company was established to meet a need that arose in a highly personal environment.
He also added that “Our goal is to give mortgage brokers, specifically those who service foreign nationals, a dedicated foreign national lender that gives them more ways of saying yes.”