Mauricio’s Umansky The Agency enters the mortgage business. The brokerage entered into a joint venture with Company Barrett Financial Group offering what the companies believe will be a variety of real estate products and underwriting targeted at the Agency’s luxury clients.
It is dipped Aclara Loans, the joint venture will start in Southern California with plans to expand in the near future.
“This partnership marks an important moment in our journey, which includes comprehensive lending solutions with a strong focus on empowering agents,” said Burke Smith, senior vice president of affiliates at The Agency, in a statement.
“We are excited to not only improve the services available to our agents and customers, but also to strengthen our commitment to excellence and innovation in the industry. We are proud to be at the forefront of providing unparalleled support and growth opportunities to our partners by providing a complete ecosystem of high-quality residential services.”
Aclara Lending plans to acquire funds from 140 large retail lenders for products such as jumbo, super jumbo and non-qualified (non-QM) loans, in addition to many traditional products.
Aclara also uses technology in the underwriting process. It said it can provide loan originators with a comparison Fannie MaeA desktop underwriter and Freddie MacA “one-click” loan product advisor.
It also said it has the technology to provide instant verification of income and assets, and can run soft credit checks taken from one or all three credit bureaus.
“This represents a new era in real estate services,” said Trevor Barrett, founder and president of Barrett Financial, in a statement. “Together, we are setting a new standard for buying a luxury home by providing clients with not only tailored mortgage solutions but also a seamless, integrated experience that supports their entire journey – from the initial search to closing the deal.
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