Beeline is well-positioned with its AI platform in an improving mortgage market Beeline is addressing the Mortgage Needs of 100M Millennials and Gen Z PORTLAND, Ore. and PROVIDENCE, R.I.
, Nov. 6, 2024 /PRNewswire/ -- Eastside Distilling, Inc. (" Eastside ") (Nasdaq: EAST) today announced that the recent merger between Eastside Distilling and Beeline is proving to be beneficial for both companies.
For Eastside , its shareholders are now also invested in an emerging AI-driven mortgage platform designed for rapid growth in an industry expected to expand in 2025. Beeline shareholders gain access to a public market for their investment. Beeline is a direct-to-consumer mortgage origination and technology company providing mortgages to homeowners and investors seeking an easier path through a digital platform.
It processes applications and answers questions for mortgage borrowers 24/7 for both conventional and non-qualified mortgages. Most of the top 50 lenders will deny a borrower if they cannot qualify for a conventional mortgage. Beeline, however, offers non-qualified mortgages.
The underwriting for these loans is often more suited to consumers who earn income in the gig economy or who are self-employed. Beeline's platform was built for digital-first consumers - making it the perfect fit for Millennials and Gen Z. According to Maxwell, nearly 60% of all mortgages generated in 2023 were from Millennials and Gen Z.
Combined this class makes up about 100M consumers. According to Ni.