Morty

Morty operates a full-stack mortgage platform aimed at mortgage teams and brokerages, bundling licensing, a loan origination system (LOS), pricing, a digital storefront, back-office operations, marketing support and automation into a single integrated offering the company describes as "mortgage-in-a-box" [0][1][2]. The company states that users can launch a compliant mortgage operation in as little as 48 hours, access 25+ lenders through its integrated lender network, originate loans at roughly 90% less cost than traditional channels, and do so without hiring operations staff, because Morty handles licensing, disclosures and back office functions [0][1]. The platform includes AI assistants — branded Rosey AI — for document review, asset verification and routine tasks, which the company says reduces processing time by 75% [0][2]. Product FAQs indicate support for team management, flexible commission structures, non-QM lending, and the ability for users to add their own lenders [0].

Morty's current positioning is a change from its earlier model. It was founded in 2016 as a digitally native online mortgage marketplace for consumers, allowing homebuyers to compare offers from multiple lenders and then lock and close loans through an automated platform, with on-demand support from in-house mortgage experts [5][7]. In that model, Morty acted as both a comparison marketplace and a broker of loan applications, and monetized by charging a fee on the loan principal that was paid by the lender [7]. The company's about page describes this history explicitly, noting that Morty "began as a digital mortgage broker" and has since transformed into an end-to-end platform powering independent mortgage businesses [2].

As of its 2021 Series B announcement, Morty reported being licensed in 36 states and Washington, DC, with an intention to serve homebuyers nationwide by the end of 2021; at that time it processed only purchase applications, with refinances on the roadmap [5][7]. Reported operating metrics from that period include more than half a billion dollars in loans processed over the prior twelve months, 800% year-over-year revenue growth, an average loan size of $325,000, and roughly half of customers being first-time buyers [5][7].

Founding story

Morty was co-founded in 2016 by Nora Apsel and Adam Rothblatt, described as a product- and engineering-focused founding team [5][7]. The company's about page characterizes the founders as technologists and mortgage experts, and says Morty began as a digital mortgage broker, which gave the team direct exposure to the operational challenges facing loan officers and mortgage teams [2]. Apsel, who serves as Co-Founder and CEO, is described as having led the company's evolution from a digitally native mortgage broker into a full-stack platform for independent mortgage businesses; Rothblatt, Co-Founder and COO/CTO, built the core platform infrastructure and oversees product development and day-to-day execution [2].

Business model

Morty currently sells an all-in-one mortgage operating platform to loan officers, teams and brokerages, providing licensing, LOS, pricing, a digital storefront, compliance, back-office support, marketing and AI automation, with tiered platform offerings for different business sizes [0][1][2]. In its earlier consumer marketplace model, Morty acted as a marketplace and broker and made money by charging a fee based on the principal of the loan, paid by the lender [7].

As an online mortgage marketplace and broker, Morty earned a fee calculated off the principal of the loan, paid by the lender rather than the borrower [7]. The current platform business references multiple platform tiers for businesses of different sizes, though pricing is not disclosed in the sources [0].

Traction

Over the twelve months preceding July 2021, Morty processed more than half a billion dollars in loans and reported 800% year-over-year revenue growth, with an average loan amount of $325,000 and roughly half of customers being first-time homebuyers [5][7]. It was licensed in 36 states and Washington, DC at that time [5][7]. The current about page cites cumulative transaction volume, states supported and number of businesses on the platform, but the numeric values are not rendered in the retrieved source [2].

Latest developments

Morty's current website presents the company as an all-in-one mortgage platform for mortgage businesses, including Rosey AI assistants for document review and asset verification, tiered platform offerings, team and commission management tools, and support for non-QM lending and user-added lenders [0][1][2]. The sources do not date these developments or report funding activity after the July 2021 Series B.