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Brace
Fintech
Brace is a mortgage servicing technology company providing software that helps loan servicers manage loss mitigation and communicate with homeowners facing financial hardship.
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Brace was founded in 2018 by Eric Rachmel and Christina Melas-Kyriazi, based on experience gained during and after the 2008 financial crisis observing how poorly the mortgage servicing industry, the part of the mortgage business responsible for collecting payments and managing loans after origination, was equipped to handle borrowers experiencing financial hardship, whether from job loss, medical emergencies, natural disasters, or broader economic downturns like the one triggered by the COVID-19 pandemic. Loss mitigation, the process by which mortgage servicers work with struggling borrowers on options such as loan modifications, forbearance plans, or repayment plans to avoid foreclosure, has historically relied on paper-based, manual processes that are slow, error-prone, and often confusing and stressful for homeowners trying to navigate them during an already difficult period in their lives. Brace's software platform digitizes and streamlines this loss mitigation workflow for mortgage servicers, providing homeowners with a clearer, more guided digital experience for understanding their hardship assistance options and submitting the required documentation, while giving servicers better tools for tracking cases, ensuring regulatory compliance, and processing requests more quickly than manual paper-based systems allow. The company's platform proved particularly relevant during the COVID-19 pandemic, when a large wave of homeowners sought mortgage forbearance under emergency federal relief programs, creating enormous operational strain on mortgage servicers that had not previously needed to process hardship requests at that volume or speed. Brace has positioned its technology as benefiting both servicers, who reduce operational costs and regulatory risk, and homeowners, who get faster, clearer paths to assistance during financial hardship, a framing relevant to regulators increasingly focused on fair and transparent treatment of distressed borrowers. The company has raised venture funding from investors including Foundation Capital and Nyca Partners to expand its mortgage servicing technology platform.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
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