FundMore, a mortgage underwriting software company, has partnered with M3 Financial Group, a Canadian loan origination company, to use FundMore’s end-to-end loan origination platform to significantly accelerate “speed to yes” by reducing rising fraud levels, increasing lending options for borrowers, and ultimately improving the overall mortgage experience for all stakeholders.
Through its architecture, FundMore will advance M3’s broker and customer experience and digital transformation goals by eliminating manual processes to make underwriting teams up to 50% more efficient; reducing the time spent on document collection by up to 75%; reducing funding times by up to 90% with the help of AI-driven technology; dramatically reducing application errors and fraud, which currently are present in 70% of applications; and adding an extra layer of security with SOC 2 Type 2 certification.
M3 Financial Group is the company behind Multi-Prêts Hypothèques, Mortgage Alliance, Invis, Mortgage Intelligence and Verico. Together, the group offers mortgage brokerage services and insurance products through its national network of brokers.
“The partnership with FundMore accelerates our focus on bringing unparalleled value to our broker and lender partners. We believe this will separate our brokers from the industry pack,” says Luc Bernard, M3’s chairman and CEO. “Brokers and lenders across our ecosystem will now benefit from FundMore’s innovative platform which will make us more efficient, reduce document collection time, and dramatically improve funding times for borrowers. Simply put, FundMore will enable our network to work faster, smarter, and more securely. We’re excited by FundMore’s deep talent, innovative technology, and vision to move our industry forward.”
“FundMore and M3 share the vision that a data-informed consumer experience is the future of the global mortgage market,” states Chris Grimes, FundMore’s CEO. “The time frame from application to funding is now a few days, rather than weeks and months. Our software will enable that throughout the M3 network. Our new partners are leaders in customer-centric and technology-supported lending, and we couldn’t be more excited about this true Canada-first partnership.”