There’s a new “fintech” company on the block.
LendSmart is a new company that will provide cloud-based process automation for mortgage lenders. It is a division of Mortgage Technology Solutions, which was launched by mortgage technology veteran Jorge Sauri – the brains behind the MortgageDashboard loan origination system and former founder at Arc Systems, one of the very first subprime automated underwriting systems.
The firm seeks to revolutionize the point of sale (POS) by facilitating artificial intelligence (AI)-driven mortgages.
“Fintech is no longer the domain of traditional technology developers,” Sauri says in a release. “Our industry is currently being disrupted, both in terms of technology development and in the delivery of banking services, by new entrants who are changing the way customers interact with financial services companies. Consumers are embracing these consumer-centric solutions.
“To compete, lenders will have to play and win this new game,” he continues. “LendSmart offers borrower-focused POS technology that uses AI to ensure transactions are driven to completion in a manner that maximizes consumer satisfaction while it reduces overall origination costs.”
The LendSmart POS is the firm’s first offering. The firm claims it provides all of the information today’s borrowers are seeking. It also includes integrated document management and process automation to get quality loan files started quickly.
LendSmart reports that it is in the process of building connectors to all the leading core and ancillary systems used in the industry.
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