Approving mortgages for young homebuyers and gig workers is a challenge that traditional lenders often struggle to address.
Beeline Holdings, Inc. (NASDAQ: BLNE) is bringing a new approach designed specifically for these underserved segments.
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CEO Nick Liuzza highlighted Beeline’s unique lending platform in an interview on Benzinga’s Premarket Playbook on Monday.
“We built our platform and all of our tools for the generation that grew up with these phones in their pockets when they’re seven, eight, nine years old. There’s 75 million millennials out there and 25 million Gen Z right behind them. And these guys … shop differently than what you and I do. So we built our platform for them,” Liuzza said.
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Unlike other mortgage lenders, Beeline doesn’t rely solely on conventional Freddie Mac or Fannie Mae guidelines.
“If you don’t qualify for a conventional Freddie Fanny mortgage, it’s game over. As opposed to Beeline, our AI will direct you to a whole new suite of products that are more designed for the gig economy,” Liuzza noted.
This is especially crucial for food delivery workers and ride-share drivers whose incomes are variable or unconventional.
Beeline’s technology allows gig workers to bypass the usual hurdles, Liuzza said.
“For example, a bank statement loan doesn’t even look at your income. It doesn’t even ask you what your income is. So, if you’ve got lumpy income that goes up and down or you’ve got K1 income … you’re probably not going to get a mortgage at Rocket Mortgage, whereas we will not even ask the question and look at your bank statements and probably give you a qualification,” the CEO told Benzinga.
Lauza emphasized the speed and accessibility of the process, saying, “It’s a seven minute journey. It’s very fast.”
“The AI will make a decision and give you 90% certainty about whether or not you qualify in seven or eight minutes, 24/7, 365, and our chatbot will answer your questions at any point in time,” he added.
Beeline’s solutions offer young gig workers — often first-time homebuyers — another option in the mortgage market that could deliver real pathways to homeownership.
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