MortgageMarket, a FinTech and the largest online marketplace for home loans in South Africa, today announced a landmark industry development becoming the first company in 25 years to secure direct bank mortgage origination contracts with major lenders including FNB, Absa, Standard Bank, Nedbank, RMB and Investec.
This milestone fundamentally changes how industry players such as, real-estate agencies, property developers and mortgage aggregators, submit home loan applications, using their own white label platform to get multiple quotes within 48hrs.
For the first time in over two decades, bank origination capability has been extended beyond a narrow group of incumbents, opening the door for broader participation by mortgage aggregators, estate agents and property professionals.
The mortgage origination contracts from the banks enables MortgageMarket to originate home loans directly from its proprietary front-end technology, which reduces friction, enables full transparency, improving turnaround times, and increasing certainty of home loan approvals by customers, estate agents and mortgage aggregators.
Its proven mortgage origination technology is evidenced by its ability to power new entrance into the mortgage origination space, with iconic white label partners such as Takealot, VodaLend, MTN MoMo, Telkom Financial Services and EasyMortgages.
“This is not about replacing intermediaries, it’s about empowering them,” said Tim Akinnusi, CEO of MortgageMarket.
“For 25 years, access to bank origination has been concentrated in very few hands. These contracts change that dynamic by giving credible and innovative access to home loans in less than 48 hours, whist providing pre-approvals in less than 2-minutes.”
MortgageMarket already powers more than 50 estate agents groups and over 10 property developers with its home loans marketplace model.
With MortgageMarket, mortgage aggregators and estate agencies can earn mortgage commission ranging from 0.25% up to 1.2%, plus charges no fees associated with the use of its services, such as:
- Full white label (front-end access to the banks directly) with no license fees
- Zero cost of consultant support
- Zero SwitchX submission fee
- Zero SwitchX digital imaging fee
- Zero systems license fees
- No geography or area restriction
- No commission clawbacks at anytime
- Unlimited credit checks for free
- Bond commission 0.25% to 1.2%
- No MORCSA association
Akinnusi is the former Managing Director of ABSA Home Loans and the former Executive Head of Sales and Client Management at Nedbank home loans. He has been instrumental in pioneering innovative tools in home loans for the past 14 years.
The impact of milestone extends across all industry participants. Estate agents benefit from faster deal certainty and higher conversion rates. Originators and aggregators gain equal access to all major banks through one platform, regardless of size. Consumers benefit from transparent comparisons, broader choices, convenience, and improved outcomes driven by competition rather than gatekeeping.
“Crucially, this development represents a win for the industry participants and customers. By opening access to bank mortgage origination and modernising how lending is distributed, MortgageMarket is helping to create a more competitive, inclusive, and efficient property finance ecosystem”, said Akinnusi.
With origination contracts secured, MortgageMarket is also regulated by National Credit Act (NCA), holds an FSP licence and a PPRA licence.
MortgageMarket’s proprietary technology is scalable and is positioned to support the next phase of industry growth, one defined by access, transparency, and collaboration.
