Chetwood acquires CHL Mortgages for Intermediaries

Similarly to CMI, the upcoming launch of ModaMortgages is set to enable the company to solidify its position as a buy-to-let lender. Both firms are set to operate through intermediaries, however, CMI provides the merge between technology and manual underwriting, while ModaMortgages offers an automated process focused on accelerated decisions. Also, the two lenders aim to co-exist independently, each of them having its brands, products, and teams. Moreover, representatives from Chetwood underlined that the decision to acquire CHL was based on the latter’s position in the lending industry, with the company intending to expand its operations further in the upcoming period.

Furthermore, the CMI proposition is set to complement one of Chetwood’s soon-to-launch ModaMortgages, as the firm supports them in growing concomitantly. According to CMI’s officials, Chetwood’s growth plans aim to allow the company to continue to develop its competitive product range and criteria offering which previously received positive feedback from intermediary partners. Chetwood has been developing technology that focuses on improving the capabilities of its customers via decisioning and automating data-driven insights. The company invested in data analytics and data sciences, designing a data environment hosted in the AWS cloud, and integrating analytic tools like machine learning and neural nets.