Commerce Home Mortgage

What Commerce Home Mortgage does

Commerce Home Mortgage operates as a retail brand within The Change Company CDFI, LLC, a US Department of the Treasury-certified Community Development Financial Institution headquartered in Anaheim, California (NMLS ID #2486868). The company originates, underwrites, and sells residential mortgage loans through four integrated subsidiaries: Change Home Mortgage (direct-to-consumer retail lending), Change Wholesale (broker and correspondent channel), xChange (digital marketplace where institutional buyers purchase prime impact loans), and Street Smart Valuations (in-house property appraisal services). Its flagship Community Mortgage Program uses flexible qualification criteria, including alternative income documentation and 21-day closings, to serve self-employed borrowers, first-time homebuyers, and customers previously declined by mainstream lenders.

The business model is transaction-fee based: the company earns origination fees and net interest income on funded loans, supplemented by wholesale channel economics and the xChange marketplace, which monetizes the secondary sale of originated loans to banks, insurance companies, asset managers, and family offices. Pricing is not publicly disclosed, and loan products are subject to credit approval. GTM combines direct-to-consumer origination with a community-led mission focused on underserved and underbanked populations; 60%+ of loans flow to those segments. Marketing relies on content/education, referral networks, LinkedIn, and earned media, while distribution spans retail, wholesale, marketplace, and embedded appraisal channels — all US-domestic.

Cumulative scale metrics reported by the company include $25B+ in total loans funded, 75,000+ borrowers served, and $1B+ in total assets. The organization is privately held with no disclosed parent, no funding rounds, no M&A activity, and no public ownership. Scott Simonich serves as President and CEO. Strategic positioning rests on CDFI certification, FHLB San Francisco membership, and thought-leadership activity (including a December 2024 white paper on Bank-CDFI partnerships under new CRA rules) intended to convert regulatory legitimacy into institutional balance-sheet demand.

Name

Commerce Home Mortgage

Legal name

The Change Company CDFI, LLC

Website

https://commercehomemortgage.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

Commerce Home Mortgage, a brand of The Change Company CDFI, LLC, is a Treasury-certified Community Development Financial Institution that originates retail and wholesale residential mortgages — including flexible-qualification Community Mortgage loans — for underserved, self-employed, and first-time borrowers, and sells loans through its xChange digital marketplace.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Consumer Direct / Online Mortgage Origination (FSALAAAB)

akta.pro secondary industries

Purchase Mortgage Origination (Homebuyer Focused) (FSALAAAD), Residential Mortgage Origination & Servicing (Retail) (FSABAAAD)

Keywords

• Residential mortgage lending
• Mortgage refinancing services
• Wholesale mortgage lending
• CDFI certified lender
• Impact loan marketplace

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Mortgage Origination: Origination fees and interest income from mortgage loans funded to borrowers, including purchase mortgages, refinances, and cash-out refinances
2. Wholesale Lending: Channel partnerships with independent mortgage brokers and correspondents through Change Wholesale platform

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Commerce Home Mortgage, operating as The Change Company CDFI, LLC, is a U.S. Department of the Treasury-certified Community Development Financial Institution that originates residential mortgage loans, refinances, and cash-out refinances through its Change Home Mortgage retail channel, Change Wholesale broker/correspondent channel, and the xChange digital marketplace for institutional impact investors. Its Community Mortgage program offers flexible qualification for self-employed, non-conventional income, and previously underserved borrowers, supporting 21-day closings and serving as a CDFI-focused lender.

Product overview

Commerce Home Mortgage operates as part of The Change Company CDFI ecosystem, offering a multi-product mortgage lending platform. The core offerings include Change Home Mortgage for consumer direct lending, Change Wholesale for broker-partnered lending, and xChange as a digital loan marketplace. Additional services include Street Smart Valuations for property appraisals and the Community Mortgage Program as a specialized lending product for underserved borrowers. The company positions itself as an CDFI-focused lender emphasizing access for self-employed, non-conventional income, and previously denied borrowers.

Differentiator

Problem solved

Functional benefit

Products and services

• Change Home Mortgage Consumer direct retail mortgage lending platform providing home purchase and refinance loans, including the Community Mortgage program designed for underserved borrowers who may not qualify through conventional lending.
• Change Wholesale Wholesale lending platform that gives independent mortgage brokers and correspondents access to Change Company's lending products, underwriting guidelines, and Community Mortgage program.
• xChange Digital marketplace enabling banks, insurance companies, asset managers, family offices, and qualified impact investors to search for and purchase prime impact loans for balance sheet building.
• Street Smart Valuations Property appraisal services integrated with the mortgage lending process to provide valuation for loan approvals.

Quantifiable outcome

• $25B+ loans funded to 75,000+ borrowers
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Framework HomeownershipcoreStrategic or Co-development Partner · 19 September 2024Change Lending and Framework Homeownership launched a CDFI-compliant course for future homebuyers, providing homeownership education and preparation resources.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Rocket Mortgage (Rocket Companies): Largest US retail mortgage originator and the dominant consumer-direct brand. Operates the same DTC purchase and refinance origination model at much greater scale.
• NewRez (shellpoint/Newrez): Diversified mortgage originator and servicer with retail, wholesale, and correspondent channels plus investor loan-sale capabilities. Comparable multi-channel platform to Change's full stack.

Direct peers

• Guild Mortgage: Retail-focused residential mortgage lender with specialty programs for underserved and first-time homebuyer segments. Closest comp to Change's mission-driven retail franchise.
• Paramount Residential Mortgage Group (PRMG): Diversified retail, wholesale, and correspondent mortgage lender with strong specialty product offering for self-employed borrowers. Comparable diversified channel strategy.
• Fairway Independent Mortgage: National retail and wholesale mortgage lender with broad retail branch network and diversified product set, comparable in scale and channel mix.
• Angel Oak Mortgage Solutions: Non-QM and flex-doc focused residential mortgage lender targeting self-employed and non-traditional income borrowers. Most direct comp to the Community Mortgage program.
• loanDepot: Direct-to-consumer retail and wholesale mortgage lender with hybrid channels serving purchase and refinance borrowers. Highly comparable multi-channel origination model to Change Home Mortgage + Change Wholesale.
• United Wholesale Mortgage (UWM): Leading wholesale mortgage lender serving independent brokers and correspondents. Direct comp to Change Wholesale on channel, broker relationships, and B2B origination.
• Caliber Home Loans (Newrez affiliate): Major originator with a strong non-QM and flex-doc specialty book. Direct comp to the Community Mortgage alternative-documentation product.

Emerging players

• Self-Help Ventures Fund / Self-Help Federal Credit Union: Mission-driven CDFI lender focused on underserved borrowers and community development. Most direct peer on CDFI mission alignment and impact lending orientation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/commerce-mortgage
• Xx.com/commercemtg
• Facebookfacebook.com/commercehomemortgage

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Commerce Home Mortgage