LoanMonkey, the first purpose-driven digital mortgage company, today announced that potential and current homeowners will now be able to purchase and refinance their homes through LoanMonkey’s online platform.
LoanMonkey uses a streamlined, digital application and underwriting process to provide borrowers with the lowest possible rates and costs available. And, as a part of every LoanMonkey loan, customers can choose to have LoanMonkey make a $250 donation to a cause of the customer’s choosing.
Founded by mortgage industry veterans and animal enthusiasts Sean Marsh and Christopher Russow, LoanMonkey is currently active in California with plans to expand operations to all fifty states. “LoanMonkey’s goal is to empower Americans to use their home mortgages as a way to give to their favorite causes while still getting the lowest possible rates and costs on their home,” said Marsh, LoanMonkey co-founder and CEO. “Upon closing, LoanMonkey offers borrowers the opportunity to donate $250 to an organization of their choosing.”
LoanMonkey takes a digital-first approach, using its online platform to streamline the mortgage process – from application, underwriting, processing to closing – so that loans can be processed faster and at a lower cost, with part of the savings gained from improved efficiency going to the borrower’s preferred charity. Marsh added, “I wanted to create an efficient, transparent and lower cost mortgage experience that’s also fun and gives borrowers the opportunity to contribute to the causes they care about.”
As an entrepreneur responsible for some of the most important innovations in the mortgage industry, Sean has been at the forefront of the digital lending for the past 25 years. He founded one of the first digital mortgage firms (Access Mortgage/NowLending, acquired by Webster Financial in 1999) and one of the largest reverse mortgage lenders (One Reverse Mortgage, acquired by Quicken Loans in 2008). Most recently, he was CEO of Synergy One Lending (acquired by Mutual of Omaha in 2018).