Built in order to connect mortgage lenders to real estate agents, LenderLogix is a new kind of customer relationship management system that scours public data sources for mortgage lenders with the goal of identifying potential relationships with real estate agents and listings.
For example, LenderLogix is able to identify listed homes that are eligible for government grants, contact the listing agent, and then provide that information. The idea is that such connections will lead to mutually beneficial relationships between lenders and agents. It allows lenders to save time that can be spent focused on other activities. In addition, lenders also benefit from being able to better leverage available data to concentrate on the right relationships.
LenderLogix is an automated platform that allows lenders to engage with brokers and real estate agents more effectively. The platform aggregates data and delivers it to lender via a mobile app or web interface. This kind of service delivery allows lenders to analyze market trends unique to their local areas, while identifying new opportunities to grow their business. The end result is that LenderLogix allows lenders to close on loans faster than before.
In addition, lenders will no longer need to waste time searching for information needed to confirm a loan application. LenderLogix helps lenders to locate critical information such as an applicant's contact information, attorney details and more, in rapid time. Lenders can also use the platform to schedule reminders about key dates such as the commitment date and closing date, to keep the loan application process moving along.
LenderLogix sets itself apart by the way it allows for a high level of engagement between individual parties to any deal. The platform is currently being tested out in the Buffalo market ahead of a nationwide rollout.
LenderLogix uses a SaaS model, meaning it can be licensed to customers based on the number of people who would actually be using the tool. The company will likely seek a round of seed funding in preparation to raise a larger amount of venture capital funding in order to expand into more markets.