The Austin, Texas-based fintech hires CoreLogic veteran as CEO and inks partnership agreements with APEX Mortgage Group, C2 Financial and Cornerstone First Mortgage.
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A fintech company that works with lenders to help homeowners leverage their equity before selling, making non-contingent “cash-like” offers or making larger down payments is winning deals including APEX Mortgage Group, C2 Financial and Cornerstone. One mortgage.
Headquartered in Austin, Texas layer It claims its business model – providing homeowners with a guaranteed back-up offer when they are ready to buy their next home – is more cost-effective than rival iBuyer and power buyer models.
The homes Kalk’s clients buy don’t have to change hands twice, as is sometimes the case with larger buyers, and the homes they sell can go onto the open market.
While a backup offer is rarely required (most clients sell their homes on the open market for a higher price), it allows homeowners to work with one of Calque’s partner lenders to obtain a “advance mortgage,” allowing them to buy and make a non-contingency offer before selling.
Calque’s other products, “Trade-in mortgage“It also allows homeowners who want to move to a more expensive home to use the equity in their existing home to make a larger down payment, which may help them get a lower interest rate or avoid paying private mortgage insurance.
Both options allow loan officers to exclude payments from a homeowner’s existing mortgage from the debt-to-income calculation when underwriting a new loan, making it easier to qualify and potentially get better terms.
“Despite fluctuating market conditions and mortgage rates, many homeowners are looking to relocate and buying a home remains a smart financial decision,” Calque said Thursday in announcing the latest partnership with Atlanta. APEX Mortgage Group Ltd.which will offer trade-in mortgages.
Keith Webster
“Our customers are like family to us and we are committed to finding the best mortgage solutions to meet their needs,” APEX Mortgage Group chief executive Keith Webster said in a statement. statement. “Trade-in mortgages level the playing field by allowing borrowers to leverage the equity in their current home to make a better offer and minimize the stress of buying their next home.”
Apex Mortgage Group is licensed in Florida, Georgia, Louisiana, Mississippi, Ohio, South Carolina, Texas and Utah for two, according to the National Multistate Licensing System (NMLS) Branch’s 11 mortgage originators provide guarantees Record.
Last week, Calque announced a partnership with mortgage broker C2 Financial to offer a white-label version of Move Ahead Mortgage under the brand name “C2 Buy Before You Sell.”
San Diego-based C2 Financial has 1,000 guaranteed mortgage originators at 137 branches nationwide and is licensed in 34 states, making it one of the largest mortgage brokers in the United States. NMLS records.
David Temko
“We decided to partner with Calque to provide our customers with a safer and better ‘buy now, sell later’ solution,” David Temko, president of C2 Financial, said in a statement. statement. “Our mortgage expertise and the guaranteed back-up offer from Calque make it easy for homebuyers to purchase their dream home.”
Last month, Calque also announced a partnership with Cornerstone First Mortgage to launch The Trade-In Mortgage in most markets across the country
San Diego-based Cornerstone First Mortgage, which is licensed in every state except New York and Alaska, sponsors 267 mortgage loan originators in 36 branches, according to reports. NMLS records.
Sean Kahan
“Trade-In Mortgage is the ideal mortgage solution for Cornerstone because of our commitment to offering a broad range of home loan programs coupled with the highest quality customer service in the industry,” Sean Cahan, president of Cornerstone First Mortgage, said in a statement. statement. “We aim to provide a solution that best suits each customer’s needs and this product is a perfect fit for many homebuyers in this market.”
Founded in 2020 by Talroo executives Jeremy FosterRemaining chairman, Calque appoints former CoreLogic exec Michael Bremer Appointed CEO in March.
Jeremy Foster
“Michael has a proven track record of scaling mortgage solutions businesses, making him the ideal person to guide Calque into its next phase of growth,” Foster said in a statement. statement. “With lending partners now in 48 states and more being launched every week, Michael’s experience leading a team in handling a high volume of transactions while still providing exceptional lender support will be invaluable.”
Michael Bremer
Bremer, who has been with CoreLogic for nearly 14 years, said he looks forward to “scaling Calque’s business; homeowner equity is high and as interest rates recover, thousands of owners are ready to start looking for their next property that fits their lifestyle.”
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