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MortgageHippo, backed by @properties, nabs $2.25M

Mortgage software is designed to help lenders offer a 'modern borrowing experience'

A wave of innovation is sweeping across the mortgage industry, as big lenders invest heavily in technology and startups pop up left and right. MortgageHippo, a provider of mortgage-origination software that's backed by a real estate brokerage, exemplifies the second group. It recently closed a seed funding round of $2.25 million, raising an additional $1.5 million on top of an initial investment by @properties, a Chicago-based real estate brokerage. MortgageHippo says it delivers a "modern borrowing experience" that helps lenders convert more leads into closings. The startup's website says consumers today want "a seamless digital experience and support from a real human being when necessary" and that its software is "optimized for a multi-channel service that keeps things organized and running smoothly." “The mortgage process can be cumbersome, leading to decreased customer satisfaction, inefficiency and higher origination costs,” said Brian Kaas, managin...

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