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…

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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…

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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…

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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,…

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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…

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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…

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May 13, 2021

Expediting the Home Equity Line of Credit Lenders (HELOC) Process

As a financial technology company, Lendsmart provides complete solutions for lenders, credit unions, banks, and non-bank lenders. One of the programs we have a solution for is a home equity line of credit or HELOC. What Is a Home Equity Line of Credit? A HELOC is very similar to a credit card in that you…

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May 4, 2021

How to Cut the Loan Origination Process in Half 

The loan origination process is time-consuming and costly for both lenders and borrowers. The booming real estate market, partially pushed by low-interest rates that also generate a demand for refinancing, creates even more reason for lenders to speed up the process while remaining compliant with regulations. Lenders that can do this efficiently will compete better…

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March 25, 2021

How To Increase Mortgage Applications on Your Website

New technologies like artificial intelligence (AI) create a user-friendly environment for customers and provide high-performance, behind-the-scenes data analytics for banks and credit unions. AI and other high-tech systems are able to handle the increasing volume of mortgage applications in ways that benefit both borrowers and lenders. Read on to learn about how you can attract…

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February 18, 2021

4 Trends and Opportunities for Lenders in 2021

As we move from an unprecedented year to one of unclear mortgage rates and lending requirements, many lenders will be looking for new opportunities to better meet their clients’ needs. Evaluating this year’s challenges and trends indicate that we are likely to notice an even greater shift toward digitalization. This means a comprehensive lending process…

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