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idutch has announced that it has joined the mortgage aggregator’s full lending panel, giving its 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 gone past the pilot phase due to the “excellent level of broker adoption and results” during this period.
Reportedly, idutch has facilitated $200 million in loan submissions with settlements attributed to the platform in excess of $70 million in the nine months since the partnership first began.
Brokers who have access to idutch’s portal can enter their clients’ requirements, which will then rank the most suitable private lenders for the client, allowing brokers to quickly identify the most appropriate way to assist their commercial borrowers.
The fintech company joined the PLAN, Choice, and FAST lending panel in December 2022 through an extended partnership with the Loan Market Group.
The decision to expand the partnership reportedly followed broker feedback and rising 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.
idutch chief executive Michael Volkiene commented on the new partnership: “In a market increasingly grappling with capacity constraints, loan covenant changes and a reduction in lending appetite from many major lenders, brokers need fast access to viable alternatives — especially for commercial clients who are often looking for more flexibility.
“The pilot program was set up to test suitability and utilisation by brokers and idutch has more than proven its capabilities in providing solutions and education on the private lending space.
“Our approach has been very strategic to limit the number of lenders to partner with on our panel. We only want the most reputable lenders, who we know will execute and behave with integrity.”
Head of commercial and equipment finance at VOW/YBR, Glenn Mitchell, stated the partnership with idutch will provide its brokers with “access to the most comprehensive private lending solutions available”.
“Feedback from our brokers is that the service and support received is truly first class,” Mr Mitchell concluded.
“Throughout the pilot program, we were particularly impressed with the due diligence undertaken by the idutch team when sourcing lenders to their lender panel.”
[RELATED: idutch joins PCF lending panel
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