More than 40 years after co-founding Re/Max LLC, Dave Liniger this week announced the creation of another franchise company, this time with the goal of originating mortgages.
Motto Mortgage will operate as a subsidiary of Re/Max Holdings Inc., the publicly traded company based in Greenwood Village that establishes franchise real estate brokerages around the world. The new company will adopt the same franchise business model that Re/Max (NYSE: RMAX) employs, with an infrastructure Re/Max built to train and support franchisees.
The idea for a mortgage company first surfaced in 2006, Liniger said in an interview with the Denver Business Journal Friday. But in 2006, the sub-prime mortgage crisis was looming, and the resulting recession was a time for companies, particularly in real estate, to batten down the hatches rather than start new ventures.
Read more in the Denver Business Journal: http://bizj.us/1ou10g