Lenda Hopes to Make Mortgages in 30 minutes

Online mortgage lender Lenda has plans to make the mortgage process last 30 minutes from start to finish; right now the company takes about 2 weeks to complete the process and has made more than $200mn worth or mortgages to date; Jason van den Brand, its co-founder and CEO, tells American Banker, “The big banks are working on technology that was built in the ’70s. We cater to the customer who lives on their phone, laptop and tablet and shops online and compares online.”; the biggest impediment is the appraisal process as that is still human intensive; the company has also been testing digital signatures by connecting via video chat with a notary. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.