Beeline is proud to announce the launch of their Spanish-speaking home loan experience on May
PROVIDENCE, R.I. and DALLAS and TAMPA, Fla., April 22, 2024 /PRNewswire-PRWeb/ — Beeline is proud to announce the launch of their Spanish-speaking home loan experience on May 1. The initiative, dubbed ‘Colmena’ (hive in English) is aimed at breaking down the barriers to homeownership for Latino communities.
Breaking barriers is part of Beeline’s DNA. Last year, they launched Bob, the first ever AI mortgage chatbot who confidently answers surprisingly tricky questions about Beeline’s wide range of loan products that open the door to home ownership for more people.
Those people now also include the 60 million people in the US who prefer to speak Spanish. Beeline recognizes the unique challenges faced by Latino families in accessing affordable housing and navigating a mortgage. With ‘Colmena’, they aim to bridge this gap.
Beeline’s smart customer journey already adjusts to applicants on the fly, pre-approving them in real-time, and offering conventional or non-QM products like bank statement loans to the 73 million self-employed and gig workers who would be otherwise marginalized if only traditional loans were available.
Spanish speakers will be automatically routed down a Spanish customer journey just for them and matched with a bilingual loan officer with certain loan documents in Spanish initially, which adds an exciting new dimension to Beeline. There’s a healthy overlap of the 60 million Spanish speakers and the 73 million self-employed people, so Beeline’s wider variety of loans opens up a world of possibilities for the Latino community.
“At Beeline, we believe that homeownership should be within reach for all Americans, regardless of background or ethnicity,” said Nick Liuzza, CEO of Beeline. “The launch of Colmena underscores our dedication to making a meaningful difference in the lives of Latino families and fostering greater financial inclusion.”
Spearheading the ‘Colmena’ initiative for Beeline is Miguel Vega, who has 25 years as a U.S. Hispanic market consultant and is a National Affordable Housing Advocate — Miguel is of Mexican-Texan heritage himself.
According to Miguel, “Colmena will feature tailored mortgage products that are culturally aligned to addressing the specific needs and preferences of Latino homebuyers plus educational resources to promote homeownership and empower individuals and families to achieve their dreams of owning a home.”
Beeline recognizes the importance of feeling understood during a mortgage. “A mortgage is no candy bar purchase,” says Miguel. “It’s a life-changing, potentially scary transaction for anybody, so the ability to transact in one’s preferred language and do so in a culturally sensitive way is very important, even if someone’s English is excellent.”
Bob, Beeline’s AI chatbot already speaks Spanish when prompted, but the next version will instantly detect the language based on the question, give faster, more accurate Spanish answers about products and offer educational content to help Spanish speakers prepare.
“Often, Latino home buyers don’t realize how easy it is,” says Miguel, “It’s a popular belief that you need 20% down and a FICO of 800 to be in the homeownership game. It’s our job to educate Latinos that their dream is a lot closer than they think — which goes to the heart of what Beeline is.”
For more information about ‘Colmena’ go to makeabeeline.comespanol Instagram @gomakeabeelineespanol Facebook https://www.facebook.com/gomakeabeelineespanol
- About Beeline: Beeline is a fintech mortgage lender transforming a long painful home loan experience into the shortest, easiest path for millions of Americans. Beeline’s combination of more reliable real-time pre-approvals for conventional loans and a wider variety of loan options that open the door for more people makes it surprisingly easy — no matter the situation. Beeline’s proprietary tech and AI together with the personal touch of their “Loan Guides” cut the back and forth and keep everyone in the loop. For more information visit makeabeeline.com. Press contact: Nick Liuzza [email protected] +1 401 418 4461
Media Contact
Nicholas Reyland Liuzza Jr, Beeline, 1 4014184461, [email protected], Beeline
SOURCE Beeline
