Neat Capital, a Boulder, Colorado-based fintech mortgage lender that focuses on jumbo loans, announced that it launched a digital mortgage platform that offers “fast, transparent, and painless loan approvals” and boasts average loan closing times of 12 days.
“After nearly two years of development, we are thrilled to officially launch a platform that truly revolutionizes the home buyer experience,” said Luke Johnson, Founder and CEO of Neat Capital.
“Our application is unique in providing real-time underwriting and borrower feedback, eliminating weeks of unnecessary back and forth,” Johnson continued. “Our software educates clients about the income and asset requirements needed to qualify for their loan, and lets them know where they stand.”
According to Johnson, the company’s digital mortgage platform is different than other lenders that focused on speeding up the application process.
“We went against the grain and focused less on developing the industry's next 3-minute application, and instead built software for a client to complete the entire process in one efficient session,” Johnson said.
But that’s not all the company news of the day. Neat Capital also announced that it acquired Whole Loan Solutions, which delivers advisory services to the secondary residential mortgage market.
“With over $1 billion in transaction history, the acquisition of Whole Loan Solutions provides us with highly relevant market insight, extends our network of banking partners, and expands our access to capital markets,” Johnson said of the acquisition.
As part of the deal, Whole Loan Solutions’ founder and managing partner, Ryan Brennan, will be named president of Neat Capital.
Whole Loan Solutions will also to operate as a standalone entity.
“We see an opportunity to deliver technology extending well beyond efficiencies in origination,” Brennan said. “The combination of Neat Capital and Whole Loan Solutions positions us for the development of additional breakthrough technology designed to streamline loan execution and capital markets strategies.”