Pineapple Financial Inc. Introduces Simplified Online Mortgage Application for Borrowers
TORONTO, Dec. 6, 2023 /CNW/ - Pineapple Financial Inc. (NYSE American: PAPL), a tech-focused mortgage brokerage with an integrated network of partner brokerages and agents across Canada, today announced it had deployed a new online application system enabling borrowers to quickly and easily discover how much mortgage they can afford, get an improved pre-qualification breakdown, and download a breakdown PDF to share with their realtor when looking for a new home.
The new application, said Pineapple, takes significant complexity out of the mortgage process by helping borrowers better understand what information they need to provide and guiding them through the application step-by-step.
In addition, the application benefits Pineapple by offering over 400 customizable variations that company brokers can control, including additional fields providing information on a client's previous addresses and employment. The application also allows for multiple income types, asset types, and liability records to be submitted, giving these brokers a clearer picture of a client's financial health.
"The new application system is expected to attract additional customers by reducing the stress, time and effort often associated with seeking a home mortgage," said Kendall Marin, Pineapple President and COO.
It is also expected to help Pineapple to maintain upgraded data management and enhance the company's security and compliance capabilities, he said.
Pineapple CEO Shubha Dasgupta added, "This new application system enables our brokers to see 100% of all applications at all stages - Success, Draft, or Abandoned. Plus, the consent documents are saved, ensuring compliance guidelines are met on every deal."
Christa Mitchell, Pineapple's Chief Strategy Officer, added, "In today's world, speed is the key to any successful application. This new application is fast as lightning, so our clients can complete it in one sitting and get pre-qualified in minutes."
Christa Mitchell concluded, "This new system continues Pineapple's tradition of leading the industry by providing groundbreaking solutions, enhancing borrower confidence and setting a new standard for mortgage applications."
Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers, as well as the overall experience of homeowners. With approximately 650 brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.
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Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
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SOURCE Pineapple Financial Inc.
For media inquiries, please contact, Dennis Welsh, Senior Director of Marketing, at Pineapple, Email: [email protected]; For investor relations inquiries, please contact Scott Powell, Chief Executive Officer, at Skyline Corporate Communications Group, LLC, Email: [email protected], Phone: +1 (646) 893-5835
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