The platform will allow homebuyers to shop, compare, and close any loan option from its network of lenders. The team will initially launch in 10 markets in the U.S, with plans to expand nationally by the end of the year. In addition to its launch, the company announced $3m in funding led by Thrive Capital with participation from SV Angels, FJ Labs, Corigin Ventures, Techstars, and Metaprop.
Here's how it works: Homebuyers create a simple financial profile by linking their income, assets, employment, and property information and describing their homeownership goals. Morty's pricing engine algorithmically matches the homebuyer's profile with each lender's eligibility and pricing guidelines to show accurate, customized quotes, inclusive of all lender fees and closing costs. Borrowers see their loan options in full transparency and compare across lenders and products. Never once leaving the Morty platform, the homebuyer chooses a loan and Morty automates the process all the way to the closing table.