MBA Premier Profile: LenderLogix
(One in a continuing series of profiles of Premier Members of the Mortgage Bankers Association)
LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience contained within its executive team to design customized software 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.
LenderLogix offers a suite of white-label, customizable products:
LiteSpeed: A white-labeled point of sale (POS) solution released in early 2023 that guides borrowers through singular, auto-advancing application questions that boast animated iconography and dynamic messaging. Borrowers receive confirmation emails with next steps, a secure document upload link, and more from their selected loan officer. LiteSpeed delivers lenders the essential POS functionality they need to compete in today’s digitally-driven market at a lower cost and without significant investment in the implementation and internal support larger platforms require. It is also available in Spanish.
QuickQual: Enables borrowers and real estate agents to run payment and closing cost scenarios and generate/update pre-approval letters instantly based on the pre-approval/pre-qualification limits as determined by the loan officer (LO). It is also available in Spanish.
Fee Chaser: An LOS add-on that enables lenders to request and securely process payments from borrowers for upfront fees. Fee Chaser sends the borrower a unique link to pay from any device seamlessly, with an average turn time of five minutes between request and payment completion. Once paid, everyone receives a receipt, and Fee Chaser automatically updates the LOS, thus providing a seamless, compliant, efficient solution for fee collection.
Key senior personnel:
Patrick O’Brien – Chief Executive Officer
Scott Falbo – Chief Technology Officer
Karl Newell – Chief Information Officer
Olga Faynshteyn– Business Development
MBA: What are some key trends your company is tracking?
From an outside perspective, we are constantly monitoring the operational challenges facing lenders today. Our current product suite was born out of seeking to address areas that had previously been overlooked or ignored by tech vendors. Internally, we’ve begun tracking data and trends from our QuickQual tool to deliver key insights into homebuyer behavior during the pre-approval/home search process. For example, our Q2 2023 data showed an increase in homebuying activity despite persistent rate and affordability concerns, which is a good sign for lenders in the current market.
MBA: Why did your company join the Mortgage Bankers Association?
With the MBA, we’re able to surround ourselves with like-minded people who believe technology can help drive a more fluid homebuying process. It’s in our DNA to unite with a diverse set of people within the mortgage industry, all with an aligned mission to advance the state of mortgage banking in an ever-changing business environment.
MBA: How has being an MBA Premier Member benefited your company?
As a technology company, we often have individuals join our team who don’t have a traditional mortgage background. MBA’s educational opportunities allow our team to learn and grow through online and classroom training along with in-person conferences where we can connect with other forward-thinking companies.
(MBA Premier Member Profiles are provided by the Mortgage Bankers Association and MBA NewsLink as a service to MBA Premier Members. Publication does not constitute an endorsement of a particular company, product or service. For more information about the MBA Premier Member program, contact Brad Padratzik, MBA Director of Associate Membership, at bpadratzik@mba.org or call 202/557-2779.)
