Commercial lending fintech joins VOW/YBR lending panel
idutch has announced that it has joined the mortgage aggregator’s complete lending panel, giving brokers full access to a range of commercial lenders.
The commercial fintech lender has been working with VOW Financial/Yellow Brick Road Home Loans (VOW/YBR) on a pilot basis since April 2022 and has now moved past the pilot phase due to the “excellent level of broker adoption and results” during this period.
idutch has reportedly facilitated $200 million in loan submissions with settlements attributed to the platform in excess of $70 million in the nine months since the partnership began.
Brokers who have access to idutch’s portal can enter their customers’ requirements, which will then rank the most suitable private lenders for the customer, so that brokers can quickly identify the most appropriate way to help their commercial borrowers.
The fintech company joined the PLAN, Choice and FAST lending panel in December 2022 through an expanded partnership with Loan Market Group.
The decision to expand the partnership reportedly followed feedback from brokers and growing settlement numbers now that over 500 brokers have been accredited with idutch, with more than $1 billion in scenarios submitted through the fintech’s platform since February 2022.
Commenting on the new partnership, Dutch managing director Michael Volkiene said: “In a market increasingly struggling with capacity constraints, changes to loan agreements and a reduction in lending appetite from many large lenders, brokers need quick access to viable options – especially for commercial clients who often is looking for more flexibility.
“The pilot program was set up to test the suitability and utilization of brokers, and idutch has more than proven its capabilities in providing solutions and education in the private lending space.
“Our approach has been very strategic in limiting the number of lenders to work with on our panel. We only want the most reputable lenders, who we know will perform and behave with integrity.”
Head of commercial and equipment finance at VOW/YBR, Glenn Mitchell, said the partnership with idutch will give its brokers “access to the most comprehensive private lending solutions available”.
“Feedback from our brokers is that the service and support received is truly first class“, concluded Mr Mitchell.
“Throughout the pilot program, we were particularly impressed with the due diligence carried out by the Dutch team when sourcing lenders for their lender panel.”
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