BUFFALO, N.Y., March 16, 2023 — LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today announced significant growth within its client base in 2022, increasing its number of partnered lending institutions by 150%. The company also maintained a net promoter score (NPS) of 86 based on feedback from the thousands of lenders and real estate agents that interact with LenderLogix and its suite of mortgage technology.
Company's white-labeled technology helped a record number of lenders deliver high-touch borrower experiences during early origination milestones.
Other significant achievements in 2022 include:
- Facilitating a 72% conversion rate from inquiry to an application via its recently released, streamlined point-of-sale (POS) platform LiteSpeed;
- Providing 33,661 borrowers with instant answers via QuickQual, resulting in 216,499 on-demand letter updates made by borrowers and real estate agents; and
- Processing nearly $23 million in upfront fees, 66% of which were for Appraisals, via Fee Chaser and enabling lenders to automatically collect 94% of their upfront fees within 24 hours and save more than 15 minutes per loan file. One lender even reported realizing more than $63,000 on previously uncollected fees by implementing this payment solution.
“Throughout the market shifts and a bloating cost to originate, lenders are taking a harder look at their technology and operational costs,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “At LenderLogix, our product roadmap is based entirely on building technology to solve our clients’ real-world issues. To that end, we are proud of the light but mighty impact our white-labeled systems have made for lenders of all sizes and will continue to develop tools that deliver exactly what our lender clients need without the bulk and heft of other software products on the market.”
LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today’s mortgage lenders. The company’s suite of products addresses the speed at which today’s real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.
DepthPR for LenderLogix