November 30, 2021

4 Common Lending Pitfalls and How to Avoid Them

Every lender has been there.  You either approved a “bad” loan or failed to give a loan to a customer who turned out to be a great prospect for future business. Although the number of nonperforming loans is relatively low these days at 1.6%, lending pitfalls are not just related to non-payment or late payments.…

Read More
October 28, 2021

Why 2021 is a Key Indicator of Your Lending Organization’s Health

2021 has been a year like no other in terms of the housing market and consumer behavior. Fueled by low mortgage interest rates, PPP loans, the rise of tech-powered real estate buying/lending, and the work-from-anywhere trend, consumers are making significant decisions about where to move, who to borrow from, and what to do with new…

Read More
October 5, 2021

Sutton Bank Selects Lendsmart to Streamline its Digital Lending Operations

NEW YORK, Oct 5, 2021— Sutton Bank, a progressive Ohio based independent, community bank, has chosen Lendsmart, an AI-driven digital lending platform to streamline its digital lending operations and better serve its customers.  Working with Lendsmart will enable Sutton Bank to offer a significantly better experience to its customers and homebuyers by bringing all parties…

Read More
September 21, 2021

How Small Lenders Can Compete With the Big Institutions

Smaller lenders have a huge advantage over larger financial institutions. Although they may not have as much to spend on marketing, they benefit from a level of personalization and client intimacy and care that a larger financial services company may not be able to deliver. A recent article in FICO by Matt Stanley asserted that:…

Read More
August 19, 2021

The New Borrowers: Who They Are and How to Serve Them

As we know, the housing market has been booming this year, due to lower mortgage rates and the “live and work from anywhere” trend, created by the pandemic. Millennials are making up a significant percentage of new homebuyers — 38 percent, up from 32 percent in 2015. But younger people are not the only consumers…

Read More
July 12, 2021

Lendsmart Integrates with Freddie Mac Loan Product Advisor® to Expedite the Underwriting Process

New Integration Significantly Reduces Loan Origination Processing Time for Lenders and Borrowers NEW YORK, July 13, 2021— Lendsmart, an AI-driven digital lending platform, today announced they have integrated with Freddie Mac Loan Product Advisor® (LPA℠), the company’s automated underwriting system (AUS). Freddie Mac and Lendsmart are working together to better serve and exceed customer expectations…

Read More
June 30, 2021

Can Accurate Payroll Verification Actually Take Just One Minute?

The short answer is “yes.” When you’re writing a loan, having accurate and up-to-date information about someone’s salary is critical. You’ll want to know as much as you can about their entire earning history, so you can be assured that you’re extending capital to the right prospects. All lending institutions — banks, credit unions, and…

Read More
June 15, 2021

Asset Verification Made Speedy

Whether you’re at a bank, credit union, or other type of lender, you know that one of the most time-consuming and aggravating steps of the approval process is asset verification. Why Asset Verification is More Important Than Ever Especially in today’s volatile and ever-changing economy, having recent and comprehensive insights into a borrower’s salary, income,…

Read More
June 2, 2021

What Does Customization Mean in Lending?

68 Percent of Prospective Borrowers Will Click Off Your Site if You Don’t Offer a Streamlined Experience. Today’s consumers are more discerning than ever. They use the web to shop brands and deals and can be extremely fickle about brand loyalty.  A whopping 93 percent of borrowers now do their research online, so the experience…

Read More
May 20, 2021

Your Home Buying Guide and Checklist

A house is often the biggest purchase you’ll make in your lifetime, and there’s a lot that goes into buying a home. A home buying checklist is a great way to tackle this daunting task. By following a home buying checklist, you’ll get through the home buying process with flying colors. Find the Price Range…

Read More