Florida financial-technology vendor aboutMYmortgage.com LLC (AMM) is for sale in whole or part with a minimum $5 million asking price.
Founder/CEO Tim Allen said Tuesday in a statement the 4 1/2-year-old Naples, Fla., fintech’s primary asset is its marketing-process patent that its client mortgage lenders and servicers in Florida, Georgia, Pennsylvania and 29 other states rely on to generate borrower leads.
AMM’s proprietary technology, Allen said, can generate tens of millions of dollars annually for a company with expertise in converting web traffic to leads. It also will help mortgage loan servicers save hundreds of millions of dollars annually by increasing their customer retention rates.
“We have also created strategic relationships with several prominent industry partners,’’ Allen said. “The senior leaders at numerous mortgage servicers are eager to use our patented process to increase customer retention, but we require additional resources to deliver them more customers.
June 15 is the bid deadline, with the company to be sold to the highest bidder, Allen said.