Milo, a venture-backed financial technology company that provides direct loan responses to foreign nationals, has introduced a new brokerage channel for wholesale lending partners in the United States.
As discussed in a press release:
“With a comprehensive online lending solution, Milo brings more than 50 years of experience in processing mortgages and loans to non-U. S. citizens. Milo’s loan procedure is absolutely transparent and requires much less documentation than a classic mortgage. New purchase, refinancing and retirement loan features are available to foreign domestic investors at competitive rates that compete with those of a classic bank.
As a direct lender, Milo can offer fast closings secured through “reliable” capital. For loan brokers, this specific solution has been difficult for clients to obtain, basically due to “paperwork limitations. “
Typical cash loan options “often result in much higher interest rates, but Milo will provide direct loan flexibility to bank rates, subsidized through an experienced team that specializes in home loans for foreign buyers. ” revealed the ad.
Josip Rupena, MILO’s CEO, said Milo was created to “meet a need, which originates in a very non-public space. “
Rupena added:
“Traditionally, foreign nationals have been unable to access loan offers due to restrictions that meet the needs of U. S. borrowers. We offer a unique lending solution and remove barriers that require non-U. S. citizens to pay money or settle for maximum interest rates.
Through the new brokerage channel, Milo’s wholesale loan partners can offer virtual loan responses to their foreign clients that allow them to close a loan without having to be in the United States, “providing the expected visitor service point in today’s competitive climate. “
Rupena noted:
“Our purpose is to provide loan brokers, especially those serving foreign nationals, with a committed foreign lender that gives them more tactics to say yes. Thanks to this collaboration, wholesale loan partners will be able to close loans in a matter of weeks, rather than months, with the support of a team of professionals who know their consumers well.
Milo is for partnerships with loan agents serving foreign nationals and foreign borrowers, the announcement notes.
As discussed in the update, Milo is a Fintech company that “reinvents the way consumers around global monetary responses to ‘Unlock what’s Possible’ in a borderless world. “
By building a generation stack of its own from scratch and enlisting a world-class team, the company has “enabled foreign nationals to obtain millions of dollars in U. S. mortgage loans. “
Milo is “passionate about driving the virtual transformation of money services, solving genuine disruptions, and having a significant effect on people’s lives. “