Realfinity, which offers a an embedded finance platform designed for dual-licensed real estate agents offering mortgages as an ancillary service, has secured a $5 million warehouse facility from Bank of the Sierra which it will use to scale its new platform.
The line of credit will be used to fund mortgage loans, which are subsequently sold to mortgage aggregators, the firm says in a release.
Realfinity’s platform empowers non-financial service providers to offer mortgage solutions at the point-of-sale. The majority of users on the platform are real estate agents who have obtained their mortgage licenses and become dual-licensed, allowing them to seamlessly offer mortgage services alongside real estate transactions. Currently, the company is licensed as a lender in several states including California, Florida and Texas.
“We’re a mission-driven company building the largest embedded lending platform in the U.S.,” says Luca Dahlhausen, CEO and co-founder of Realfinity. “Delivering bare-metal rates directly to consumers through their existing real estate agents allows us to originate loans at significantly lower costs compared to traditional lenders, who face high customer acquisition and overhead costs.”
“This warehouse facility, along with our newly obtained lending licenses, marks an important milestone in streamlining mortgage origination on residential real estate transactions,” Dahlhausen says.
Since launching operations in 2023, Realfinity has funded more than $40 million in mortgages, initiated 274 loan applications, and successfully completed 128.
Photo: Pepi Stojanovski