Author Archives: LenderLogix

LenderLogix expands LiteSpeed POS with native eSignature for borrowers and loan teams

LiteSpeed eSign delivers an Encompass-optimized, zero-detour eSignature workflow with in-portal signing and automatic eFolder storage, including audit trails

BUFFALO, N.Y., Dec. 16, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced LiteSpeed eSign, a fully native eSignature experience built into the LiteSpeed point of sale (POS) platform. Serving both sides of the mortgage process, LiteSpeed eSign enables lenders to tag and request documents for electronic signatures directly in Encompass without the need to switch platforms.

Image caption: LenderLogix.

LiteSpeed eSign enables borrowers to sign documents directly within their LiteSpeed dashboard with a mobile-ready tap-to-sign workflow that helps improve completion rates and reduce manual follow-up tasks. To ensure security, borrowers authenticate using mobile or email two-factor authentication when opening signature requests from their LiteSpeed dashboard. Signed disclosures are automatically added to the loan’s Encompass eFolder with a full audit trail.

Processors can tag documents directly in the Encompass® eFolder for signature without downloading files, creating third-party signing “envelopes” or switching platforms. LiteSpeed’s eSign tool also streamlines outbound signature requests for third-parties like gift donors, Realtors and other non-borrowers. Loan teams select the documents in Encompass, tag the signature, initial, and date fields, and send the request. LiteSpeed automatically adds the document to the borrower portal and generates borrower signing tasks. Completed documents are then returned to the eFolder, complete with timestamps, IP addresses and a tamper-evident hash.

“Borrowers shouldn’t have to leave the application, nor lenders leave the LOS, just to sign documents,” said Patrick O’Brien, CEO and co-founder of LenderLogix. “LiteSpeed eSign delivers eSignatures within the mortgage workflow to avoid disruptions. It’s a zero-detour experience that reduces friction for borrowers, simplifies the work for loan teams and keeps the signature process connected to the Encompass eFolder from start to finish.”

LiteSpeed eSign is included for LiteSpeed users. Book a demo or watch the feature walkthrough here: https://info.lenderlogix.com/litespeed-esign.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://lenderlogix.com/.

LOGO link for media: https://info.lenderlogix.com/hs-fs/hubfs/lenderlogix-logo_white.png

NEWS SOURCE: LenderLogix

This press release was issued on behalf of the news source (LenderLogix), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-expands-litespeed-pos-with-native-esignature-for-borrowers-and-loan-teams/

LenderLogix expands LiteSpeed POS with built-in AI-powered agent for mortgage loan officers

AI Sidekick delivers instant insights to improve loan accuracy and reduce loan processing times by up to 40%, leading to increased borrower satisfaction

BUFFALO, N.Y., Nov. 10, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced it has launched AI Sidekick, an artificial intelligence (AI) feature built into the LiteSpeed point-of-sale (POS) platform. AI Sidekick supports loan officers (LOs) with simple tools to instantly review loan files, efficiently update document needs lists and rapidly identify missing data, reducing loan processing times by up to 40%.

Image caption: LenderLogix.

AI Sidekick is designed to support mortgage lending, empowering LOs by streamlining highly manual back-end tasks. It scans and analyzes loan details in seconds, providing LOs with critical insights into potential compliance errors and missing documentation, minimizing risk while improving turnaround time without disrupting current processes. Built with SOC 2–compliant infrastructure and end-to-end encryption, AI Sidekick ensures that borrower data remains fully secure within lenders’ existing Encompass® environments.

AI Sidekick also enables LOs to update borrowers’ needs lists with a single click, reducing manual data entry. By surfacing insights and missing documentation early in the loan process, AI Sidekick improves accuracy, reduces processing time and enhances the borrower experience.

“With AI Sidekick, we’re giving lenders a way to eliminate bottlenecks in the loan process without adding complexity,” said LenderLogix CEO Patrick O’Brien. “It’s not about replacing people but about equipping them with modern tools. AI Sidekick doesn’t interact with borrowers, instead acting as a true copilot for LOs to automate the most time-consuming parts of loan file review so they can focus on what they do best: building relationships and delivering great service.”

Visit https://info.lenderlogix.com/litespeed-ai-sidekick to request a demo.

About LenderLogix

LOGO link for media (white): https://info.lenderlogix.com/hs-fs/hubfs/lenderlogix-logo_white.png

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-expands-litespeed-pos-with-built-in-ai-powered-agent-for-mortgage-loan-officers/

LenderLogix CTO and Co-Founder Scott Falbo recognized as a 2025 HousingWire Tech Trendsetter

BUFFALO, N.Y., Nov. 3, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today announced its CTO and Co-Founder Scott Falbo is a 2025 HousingWire Tech Trendsetter. The award honors technology leaders and innovators whose work is driving meaningful change across the housing industry. Falbo was recognized for his role in advancing automation, borrower experience and lender efficiency through thoughtful, practical innovation.

Image caption: LenderLogix CTO and Co-Founder Scott Falbo recognized as a 2025 HousingWire Tech Trendsetter.

Falbo has played a pivotal role in shaping the evolution of borrower-friendly mortgage technology by focusing on utility, simplicity, and real-world impact. Under his leadership, LenderLogix expanded its LiteSpeed point-of-sale (POS) platform through a new integration with Argyle, embedding automated income, employment, and asset verifications directly within the borrower experience. By placing verification at the point of engagement, the integration eliminates manual uploads, improves data completeness, and accelerates loan cycle times for lenders, setting a new standard for automation in mortgage origination.

Falbo also spearheaded development of the LenderLogix AI Sidekick, designed to surface borrower insights, automate compliance checks, and trigger communication workflows to enhance loan officer productivity without disrupting the borrower experience. AI Sidekick was released for all LiteSpeed customers in Q3 2025. Beyond his work at LenderLogix, Falbo contributes to the Mortgage Bankers Association’s Residential Technology Committee, helping shape industry-wide standards for innovation, automation, and data integrity.

“This recognition from HousingWire is really a testament to our entire team’s creativity and commitment to our customers,” said Falbo. “Our mission has always been to create technology that feels intuitive and genuinely helpful for lenders, loan officers and borrowers alike. When technology empowers people rather than complicates their work, that’s when meaningful progress happens.”

“The 2025 Tech Trendsetters exemplify the creativity and execution that define the next generation of housing innovation,” said Clayton Collins, CEO of HW Media. “Whether it’s advancing AI and automation, strengthening data ecosystems, or elevating the digital experience for professionals and consumers alike, these leaders are shaping the future of a more efficient housing sector.”

To view the full list of HW Tech Trendsetters, visit: https://www.housingwire.com/techtrendsetters/.

About LenderLogix

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/.

About HousingWire

HousingWire is an information services company that provides unique data and research, respected business journalism and must-attend events for housing leaders to use to advance their understanding and business outcomes. Our vision is a world in which housing leaders have a complete view of the housing market, and a broad community of peers with whom they can connect. We are committed to delivering the data, analytics, media, and events that advance this vision. Because housing is too important for narrow perspectives and missed connections. Informed housing leaders are better housing leaders. A connected housing industry is a better housing industry. And the full picture always reveals new opportunities.

Explore more at www.housingwire.com.

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-cto-and-co-founder-scott-falbo-recognized-as-a-2025-housingwire-tech-trendsetter/

LenderLogix Q3 2025 Homebuyer Intelligence Report Reveals Subtle Shifts in Pre-Approval Volume and Post-App Behavior

BUFFALO, N.Y., Oct. 16, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the third quarter (Q3) of 2025.

Image caption: Infographic: LenderLogix’s Q3 2025 Homebuyer Intelligence Report.

Pre-Approvals

In Q3 2025, borrowers generated 8.61% fewer pre-approval letters through LenderLogix’s QuickQual pre-approval platform than in Q2 2025. The average number of pre-approved borrowers per loan officer decreased from 28.6 in Q2 2025 to 25.2 in Q3 2025.

The average loan amount on pre-approval letters declined from $367,305 in Q2 to $328,997 in Q3. Likewise, the average sale price fell sharply from $423,667 to $385,822. However, the average down payment percentage moved in the opposite direction, rising from 13.3% to 14.7% as borrowers brought more funds to the table.

Conventional loans remained the most popular loan type for pre-approved borrowers in Q3, decreasing marginally from 74.7% to 74.6% from the prior quarter. FHA pre-approvals increased marginally from 18.6% to 18.7%. VA decreased slightly from 4.5% to 4.2%, and USDA (1%) maintained its share from Q2 to Q3 2025.

“Despite a modest seasonal decline in pre-approval activity and loan amounts, borrowers are signaling seriousness through larger down payments and steady interest across loan types,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “These trends point to a purchase market that is more price-conscious but still active.”

Borrower Conversion

Of the borrowers using QuickQual in Q3 2025, the average number of days between pre-approval and loan submission increased from 86.3 to 89.5 days in Q3.

From pre-approval to loan application, the conversion rate among borrowers held steady at 56% in Q3. Borrowers required an average of eight pre-approval letters before converting, maintaining the Q2 average into Q3. In total, new applications through the LiteSpeed point-of-sale (POS) platform increased 1.5% from Q2 2025 to Q3 2025.

“Borrower conversion remained steady this quarter, even though the timeline between pre-approval and loan submission lengthened,” said O’Brien. “This suggests that homebuyers are staying engaged despite navigating longer home search cycles.”

Post-Application Engagement

In Q3 2025, the number of documents uploaded through LiteSpeed grew 1.5% quarter-over-quarter. The number of newly created needs lists, including both online applications and those entered by loan officers, increased 1.6% in Q3.

Successful verification of income and employment (VOIE) through POS across all providers increased from 17.1% in Q2 to 17.8% in Q3. Verification of assets (VOA) decreased slightly from 33.7% to 31.2% over the same period.

“Post-application activity showed modest growth, and verification performance remains an area where lenders can continue to gain efficiency,” O’Brien added. “With meaningful differences in verification success rates between providers, the data underscores the importance of lender flexibility and smart vendor selection when optimizing workflow performance.”

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix:

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-q3-2025-homebuyer-intelligence-report-reveals-subtle-shifts-in-pre-approval-volume-and-post-app-behavior/

Peak Residential implements Argyle-LenderLogix integration – LiteSpeed first POS to integrate with Argyle VOA

BUFFALO, N.Y., Oct. 2, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale (POS) and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Peak Residential Lending (Peak) has adopted LenderLogix’s LiteSpeed™ integration with Argyle to deliver verification of assets (VOA) directly at the point of sale (POS). LiteSpeed is the first POS to offer VOA through Argyle’s verification platform.

Image caption: LenderLogix logo.

Through the integration, Peak’s loan teams can access structured, verified data from the start of the application process, including transaction history, asset summaries and rental history. Using income, employment or asset verifications from Argyle enables lenders to qualify for rep and warrant relief on validated components under Fannie Mae’s Day 1 Certainty® program and Freddie Mac’s Asset and Income Modeler (AIM) capability in Loan Product Advisor®.

LiteSpeed’s integration with Peak’s loan origination system (LOS), Encompass® by ICE Mortgage Technology®, further reduces manual touchpoints, driving efficiency and accuracy throughout the loan lifecycle. For Peak borrowers, the mortgage application is faster and less stressful. Instead of searching for and uploading bank statements, assets are verified in minutes, delivering the digital convenience today’s consumers expect.

“VOA delivered at the POS is not just a feature, it’s a fundamental shift in how we serve our borrowers,” said Peak Co-Founder Charley Bates. “By eliminating manual document collection and reducing back-and-forth follow-ups, we start every file with verified, consumer-permissioned data. That cuts days off the process for our loan teams while giving customers the modern, digital experience they expect when applying for a mortgage. We can focus more on guiding borrowers through the process and less on paperwork.”

“Peak Residential’s implementation is a clear example of how technology can streamline processes and allow lenders to focus on what they do best: originating quality loans,” said Patrick O’Brien, founder and CEO of LenderLogix. “Being the first POS live with Argyle’s VOA is a powerful milestone for the industry and for our customers. Embedding VOA directly into the POS empowers lenders to originate loans with fewer manual touchpoints, higher accuracy and greater compliance certainty.”

“Asset verification has long been one of the most time-consuming and compliance-sensitive parts of the mortgage process,” said John Hardesty, vice president of Argyle’s mortgage division. “By delivering GSE-accepted data instantly at the point of sale, Peak Residential is showing how this integration reduces risk from the very beginning of the loan and ensures lenders can originate with confidence.”

This is the latest in a series of LiteSpeed integrations with leading consumer-permissioned verification providers, underscoring LenderLogix’s commitment to delivering flexibility and choice for lenders while ensuring borrowers receive the modern digital experience they expect.

About LenderLogix

LOGO link for media: https://www.lenderlogix.com/landing-assets/assets/images/lenderlogix-logo_white.png

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/peak-residential-implements-argyle-lenderlogix-integration-litespeed-first-pos-to-integrate-with-argyle-voa/

LenderLogix CEO Patrick O’Brien honored as 2025 HousingWire Vanguard

BUFFALO, N.Y., Sept. 2, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced its founder and CEO Patrick O’Brien has been recognized as a 2025 HousingWire Vanguard. The award honors C-suite professionals and business leaders whose vision and leadership are driving the housing industry forward across lending, servicing, investments, and real estate. O’Brien is honored for ensuring that innovation translates into measurable impact across lender operations.

Image caption: LenderLogix CEO Patrick O’Brien.

Under O’Brien’s leadership, LenderLogix has equipped hundreds of lenders with intuitive, modern tools that optimize borrower experience, accelerate processes, and reduce compliance risks without the cost or complexity of legacy solutions. Used in conjunction the LenderLogix suite of solutions, including QuickQual, LiteSpeed and Fee Chaser, save lenders hours per loan.

LiteSpeed, LenderLogix’s intuitive point-of-sale (POS) platform drove a 35% increase in borrower-permissioned VOE/VOA adoption. Lenders using QuickQual, which automates pre-approval letter generation, experienced a 30% increase in conversion from pre-qualification to application and reduced loan officer time spent updating pre-approvals from 10 minutes to just 30 seconds. Fee Chaser, the company’s secure, automated upfront fee collection tool, has enabled lenders to collect 60% of fees within 5 minutes, and 93% within 24 hours, eliminating a time-consuming, high-risk manual task.

“From the very beginning, our mission at LenderLogix has been to create technology that makes a tangible difference for lenders and their borrowers,” said O’Brien. “Tools like LiteSpeed, QuickQual, and Fee Chaser don’t just make processes faster; they empower lenders to operate more efficiently, reduce risk, and focus more on relationships. This recognition is a testament to the dedication of our entire team and the trust our clients place in us to help move the industry forward.”

“The 2025 HousingWire Vanguards exemplify what it means to lead with vision and resilience,” said Sarah Wheeler, Editor-in-Chief of HousingWire. “These leaders aren’t just driving growth within their organizations, they’re shaping the future of housing itself. Their achievements reflect the innovation, adaptability, and commitment required to thrive in today’s rapidly evolving market.”

To view the full list of HW Insiders honorees, visit: https://www.housingwire.com/vanguard/.

About LenderLogix

About HousingWire

Because housing is too important for narrow perspectives and missed connections. Informed housing leaders are better housing leaders. A connected housing industry is a better housing industry. And the full picture always reveals new opportunities.

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-ceo-patrick-obrien-honored-as-2025-housingwire-vanguard/

LenderLogix Q2 2025 Homebuyer Intelligence Report Shows Increased Loan Quantities as Borrower Activity Holds Steady

BUFFALO, N.Y., Aug. 5, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the second quarter (Q2) of 2025.

Image caption: Infographic: LenderLogix Q2 Homebuyer Intelligence Report.

Pre-Approvals

In Q2 2025, borrowers generated 11.9% more pre-approval letters through LenderLogix’s QuickQual pre-approval platform over Q1 2025. The average number of pre-approved borrowers per loan officer increased from 26.5 in Q1 2025 to 28.6 in Q2 2025.

The average pre-approval letter loan amount increased from $326,714 in Q1 to $367,305 in Q2. The average sales price also increased significantly from $381,820 to $423,667. The average down payment size shows a slight decrease from 14.4% in Q1 to 13.3%.

Conventional loans remained the most popular loan type for pre-approved borrowers in Q2, increasing marginally from 74.2% to 74.7% over the prior quarter. FHA pre-approvals decreased marginally from 19% to 18.6%. VA (4.5%) and USDA (1%) maintained their share from Q1 to Q2 2025.

“Despite the increase in sales price, we’ve seen increased prequalification numbers for conventional, FHA VA and USDA loans, demonstrating borrowers’ desire to purchase,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “Lenders and real estate partners need to be vigilant to help borrowers find homes that fit their prequalification amounts.”

Borrower Conversion

Of the borrowers using QuickQual in Q1 2025, the average number of days between pre-approval and loan submission increased from 79.6 to 86.3 days in Q2. The most prolonged duration between pre-approval and application decreased by sixty-three days from 709 in Q1 to 646 in Q2. The conversion rate among borrowers from pre-approval to loan application increased slightly from 55% to 56% in Q2. Borrowers maintained an average of eight pre-approval letters before converting. In total, new applications through the LiteSpeed point-of-sale (POS) platform increased 8.7% from Q1 2025 to Q2 2025.

“Overall, borrower conversion and activity are remaining fairly steady,” said O’Brien. “Lenders must hone their marketing and outreach strategies to effectively reach the prepared borrowers in their area to remain competitive.”

Post-Application Engagement

In Q2 2025, the number of documents uploaded through LiteSpeed grew 18.3% quarter-over-quarter. The number of newly created needs lists, including both online applications and those entered by loan officers, decreased 16.7% in Q2.

Successful verification of income and employment (VOIE) through POS improved, increasing from 15.5% in Q1 to 17.1% in Q2. Verification of assets (VOA) decreased slightly from 36.7% to 33.7% over the same period.

“While we saw a dip in Needs List creation, the continued growth in document uploads and improved VOIE success rates suggest borrowers are more prepared and proactive after application,” O’Brien added. “That preparation ultimately helps lenders build cleaner, faster-moving loan files.”

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-q2-2025-homebuyer-intelligence-report-shows-increased-loan-quantities-as-borrower-activity-holds-steady/

LenderLogix Q1 2025 Homebuyer Intelligence Report Shows Early 2025 Mortgage Market Momentum, Stronger Loan Engagement

BUFFALO, N.Y., May 6, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the first quarter (Q1) of 2025.

Image caption: Q1 2025 Homebuyer Intelligence Report Infographic.

Pre-Approvals

In Q1 2025, borrowers generated 37.8% more pre-approval letters through LenderLogix’s QuickQual pre-approval platform over Q4 2024. The average number of pre-approved borrowers per loan officer increased from 23 in Q4 2024 to 26.5 in Q1 2025.

The average pre-approval letter loan amount slightly increased from $322,532 in Q4 to $326,714 in Q1. The average sales price also increased from $376,436 to $381,820. The average down payment size shows a marginal increase from 14.3% in Q4 to 14.4%.

Conventional loans remained the most popular loan type for pre-approved borrowers in Q1, though decreased marginally from 74.3% to 74.2% below the prior quarter. FHA pre-approvals decreased marginally from 19.1% to 19%. VA (4.5%) and USDA (1%) maintained their share from Q4 to Q1 2025.

“We’re seeing strong early-season activity from homebuyers, which suggests renewed optimism despite ongoing affordability concerns,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “Borrowers are entering the market with intent, and their use of digital pre-approval tools reflects a growing emphasis on speed and preparation in today’s competitive environment.”

Borrower Conversion

Of the borrowers using QuickQual in Q4 2024, the average number of days between pre-approval and loan submission decreased from 91 to 79.6 days in Q1. The most prolonged duration between pre-approval and application increased by fifty-nine days from 650 in Q4 to 709 in Q1. The conversion rate among borrowers from pre-approval to loan application increased slightly from 54% to 55% in Q1. Borrowers maintained an average of eight pre-approval letters before converting. In total, new applications through the LiteSpeed point-of-sale (POS) platform increased 54% from Q4 2024 to Q1 2025.

“Borrowers are clearly staying engaged throughout the early stages of the homebuying journey,” said O’Brien. “We’re seeing signs of increased urgency and lender responsiveness, both of which point to a more active purchase market and continued adaptation to borrower expectations.”

Post-Application Engagement

In Q1 2025, the number of documents uploaded through LiteSpeed grew 48% quarter-over-quarter. The number of newly created needs lists, including both online applications and those entered by loan officers, rose 37% in Q1.

Successful verification of income and employment (VOIE) through POS improved significantly, increasing from 6.5% in Q4 to 15.5% in Q1. Verification of assets (VOA) also rose, climbing from 33.1% to 36.7% over the same period.

“This quarter’s data points to meaningful improvements in post-application engagement,” O’Brien added. “Increases in document uploads, Needs List creation, and verification success rates all contribute to stronger loan files, faster underwriting decisions, and deeper borrower engagement. These trends reflect how the right tools can streamline workflows while also improving loan quality and borrower experience.”

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-q1-2025-homebuyer-intelligence-report-shows-early-2025-mortgage-market-momentum-stronger-loan-engagement/

Victorian Finance Switches to LiteSpeed by LenderLogix for Point-of-Sale

LiteSpeed provides digital-first, mobile-friendly capabilities, enhancing borrower experiences

BUFFALO, N.Y., April 29, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced that Victorian Finance, an independent mortgage lending company, has implemented LiteSpeed™ to replace its legacy point-of-sale (POS) system. Victorian Finance will use LiteSpeed to provide borrowers with an automated, digital-first mortgage experience.

Image caption: LenderLogix.>

“With LiteSpeed, we’re well-positioned to meet the evolving needs of our borrowers by leveraging features and functionality that weren’t previously available to us,” said Victorian Finance President Sonny Bringol. “Its advanced capabilities allow us to streamline processes, enhance efficiency, and improve the borrower experience in ways that weren’t possible before. With LiteSpeed, we can scale more effectively and deliver faster, smoother loans.”

LiteSpeed allows loan officers (LOs) to provide personalized application links with customized document checklists, simplifying lending processes for both borrowers and LOs. Borrowers can upload files through a user-friendly interface. Files are automatically integrated into Encompass®, saving LOs significant time by eliminating manual handling.

LiteSpeed accelerates loan approvals and enhances efficiency for all parties involved by automating repetitive tasks and reducing processing delays. The platform is fully customizable to align with an institution’s branding, mobile-friendly and SOC 2 compliant.

“LiteSpeed is designed to help lenders simplify their workflows and connect with borrowers more effectively,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “We’re committed to equipping our clients with tools that drive efficiency while delivering an experience borrowers expect in today’s digital-first environment.”

Visit https://lenderlogix.com/contact to request a demo.

About LenderLogix

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/victorian-finance-switches-to-litespeed-by-lenderlogix-for-point-of-sale/

Tidewater Mortgage Services Replaces Legacy POS with LiteSpeed from LenderLogix

LiteSpeed optimizes digital application processes and enhances the borrower experience

BUFFALO, N.Y., April 15, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Tidewater Mortgage Services (Tidewater), a retail mortgage lending company, has replaced its legacy point-of-sale (POS) technology with LiteSpeed, thus expanding its partnership with the company. In addition to Fee Chaser™, Tidewater will now use LiteSpeed as the point-of-sale to automate mortgage processes and provide borrowers with a digital-first experience.

Image caption: LenderLogix.

“We needed a POS platform that offered a more intuitive, borrower-friendly application process and greater automation than our previous platform,” said Tidewater VP of Project Management, Mike Martin. “LiteSpeed delivers on those needs, allowing us to streamline workflows, reduce friction for borrowers and ultimately close loans more efficiently. Our experience with Fee Chaser had already demonstrated LenderLogix’s reliability and efficiency, so expanding our partnership with LiteSpeed was the clear next step.”

LiteSpeed is designed to simplify the lending process for both borrowers and lenders. With its AI-driven capabilities, the platform enables loan officers to provide personalized application links that generate customized document checklists, streamlining submissions. Borrowers benefit from a user-friendly interface for uploading files, which are automatically integrated into Encompass®, eliminating time-consuming manual handling.

Fully customizable to match an institution’s branding, LiteSpeed is mobile-friendly and adheres to rigorous security standards, including SOC 2 compliance. By automating repetitive tasks and reducing processing delays, the platform not only accelerates loan approvals but also delivers a smoother, more efficient experience for borrowers and lenders alike.

“LiteSpeed delivers a seamless mobile experience that provides a competitive advantage for lenders trying to get ahead in a market where consumers demand convenience,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “By supporting and enhancing early customer engagement, we’re empowering our customers to deliver exceptional borrower experiences at a cost-efficient price.”

Visit https://lenderlogix.com/contact to request a demo.

About LenderLogix

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/tidewater-mortgage-services-replaces-legacy-pos-with-litespeed-from-lenderlogix/

LenderLogix Q4 2024 Homebuyer Intelligence Report Data Indicates Possible Improvement in Affordability

The LenderLogix 2024/Q4 Homebuyer Intelligence Report Data Indicates Possible Improvement in Affordability

BUFFALO, N.Y., Jan. 21, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the fourth quarter (Q4) of 2024.

Image caption: LenderLogix.

Pre-Approvals

In Q4 2024, borrowers generated 37,831 pre-approval letters through LenderLogix’s QuickQual pre-approval platform, a 23.4% decrease from Q3 2024. The average number of pre-approved borrowers per loan officer decreased from 28.5 in Q3 2024 to 23 in Q4 2024.

The average pre-approval letter loan amount slightly decreased from $388,215 in Q3 to $322,532 in Q4. The average sales price also decreased from $446,390 to $376,436. The average down payment size shows a marginal increase from 13% in Q3 to 14.3%.

Conventional loans remained the most popular loan type for pre-approved borrowers in Q4, though decreasing slightly from 76% to 74.3% in the prior quarter. FHA pre-approvals increased somewhat from 17.9% to 19.1%. VA (4%) and USDA (1%) maintained their share from Q3 to Q4 2024.

“The overall decrease and drop in pre-approvals was expected in Q4 as this is historically a lower-volume quarter overall,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “However, the decrease in average sales price is a promising sign for affordability and may indicate a potential increase in mortgage-ready borrowers as the new year begins.”

Borrower Conversion

Of the borrowers using QuickQual in Q3 2024, the average number of days between pre-approval and loan submission held steady at 91 days in Q4. The most prolonged duration between pre-approval and application increased by fifty-seven days from 593 in Q3 to 650 in Q4. The conversion rate from borrowers using QuickQual to loan application decreased slightly from 56% to 54% in Q4. Borrowers generated an average of eight pre-approval letters before converting.

“Despite a large increase in the longest duration between pre-approval and application, the average duration remained the same,” O’Brien noted. “Thus, loan officers can, on the whole, expect borrowers to continue moving through the pipeline steadily and should be prepared to accommodate them.”

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-q4-2024-homebuyer-intelligence-report-data-indicates-possible-improvement-in-affordability/

LenderLogix Co-Founder and Chief Technology Officer Scott Falbo named HousingWire Tech Trendsetter for Second Consecutive Year

BUFFALO, N.Y., Nov. 1, 2024 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Co-founder and Chief Technology Officer Scott Falbo has been selected by HousingWire as a 2024 Tech Trendsetter Award winner. In its sixth year, HousingWire’s Tech Trendsetters award recognizes the most impactful and innovative technology leaders serving the housing economy.

Image caption: LenderLogix Co-Founder and Chief Technology Officer Scott Falbo.

“The 2024 Tech Trendsetters represent a group of truly innovative leaders who are pushing the boundaries of what’s possible in mortgage and real estate,” said HousingWire Editor-in-Chief Sarah Wheeler. “These tech trailblazers are not just enhancing efficiency, but transforming the way businesses operate — from streamlining lending processes to improving the customer experience in real estate transactions. Their impact is reshaping both industries, and their forward-thinking solutions are setting new standards for how technology can drive growth and success in today’s evolving market.”

In addition to using LenderLogix’s LiteSpeed tool to help lenders achieve consistent conversion rates of more than 50% even in a down market, Falbo has been the driving force behind integrations with two verification providers—AccountChek by Informative Research as well as with Truv. These integrations allow lenders to obtain key verifications at the point of application and access programs, including Day 1 Certainty® Asset and Income Modeler (AIM), providing for pre-closing employment verifications. Using direct-to-source income and employment verification via these consumer-permissioned platforms not only enhances speed and accuracy but delivers significant cost savings and lowers overall loan processing expenses.

“HousingWire has been kind enough to name me, again, as their Tech Trendsetter, but it’s really a team effort. By keeping client needs at the forefront, we’ve been able to build a team that makes an 80% conversion rate from mortgage inquiry to application possible via our point-of-sale platform LiteSpeed,” said Falbo. “Furthermore, our team is helping lenders provide nearly 35,000 borrowers with instant answers via QuickQual, resulting in 216,499 on-demand letter updates made by borrowers and real estate agents logging in over 750,000 times to run scenarios during all hours of the day.”

The 2024 HousingWire Tech Trendsetters were selected by HousingWire’s selection committee based on their vital and dynamic contributions to their organizations and the housing industry as a whole.

“The HousingWire awards reflect our mission to provide real estate and mortgage professionals with ‘the full picture’ of the people and technologies shaping housing,” said Clayton Collins, CEO of HW Media. “The 2024 Tech Trendsetters program exemplifies the leaders that are transforming the market and empowering businesses to drive results. Congratulations to the 2024 HousingWire Tech Trendsetters.”

The complete list of HousingWire Tech Trendsetter Award recipients can be found at www.housingwire.com.

About LenderLogix

About HousingWire

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches more than 70,000 newsletter subscribers daily and 1 million unique visitors each month and has more than 5,000 members and event attendees. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-co-founder-and-chief-technology-officer-scott-falbo-named-housingwire-tech-trendsetter-for-second-consecutive-year/

US Mortgage Corporation Taps LenderLogix LiteSpeed to Replace its Legacy Point-of-Sale

The company has implemented LiteSpeed to provide a seamless digital-first mortgage process at first touch

BUFFALO, N.Y., Oct. 23, 2024 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced US Mortgage Corporation, a nationwide mortgage lender, has selected LiteSpeed to automate its mortgage process and provide its borrowers a digital-first borrower experience.

Image caption: LenderLogix.

“Once we saw the functionality of LiteSpeed, we couldn’t look at our borrower journey the same. Any way we can eliminate borrower friction is a win for us,” said Scott Milner, president of US Mortgage Corporation. “We needed a system that wasn’t just a digital loan application but something that could keep our borrowers engaged from pre-approval through closing. LiteSpeed allowed us to reimagine how we request conditions from borrowers and given its strong alignment with our LOS, we’re driving efficiencies through our entire process.”

LiteSpeed’s integration with Encompass® by ICE Mortgage Technology enhances US Mortgage’s loan application process by guiding borrowers through a sleek, mobile-friendly digital application where upon completion, borrowers instantly receive a personalized needs list, a secure document upload link and additional resources from their chosen loan originator. The needs list is then updated from Encompass as the loan progresses, making it a consistent experience for borrowers as underwriting conditions are collected and the loan is cleared to close.

“Every LenderLogix solution was created with the objective of streamlining the mortgage process and simultaneously enhancing the borrower experience,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “It’s increasingly difficult for lenders to stand out in a sea of their peers, which is why we place such an emphasis on creating an automated digital borrower experience. Our products create personalized digital experiences for borrowers, while also shaving valuable minutes off each transaction for loan officers.”

Visit https://lenderlogix.com/contact to request a demo.

About LenderLogix:

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/us-mortgage-corporation-taps-lenderlogix-litespeed-to-replace-its-legacy-point-of-sale/

LenderLogix Q3 2024 Homebuyer Intelligence Report Data: Homebuyers Hold Steady and ‘Wait for the Rate’

BUFFALO, N.Y., Oct. 17, 2024 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the third quarter (Q3) of 2024.

Image caption: LenderLogix.

Pre-Approvals

In Q3 2024, borrowers generated 49,392 pre-approval letters through LenderLogix’s QuickQual pre-approval platform, a 15% decrease from Q2 2024. The average number of pre-approved borrowers per loan officer decreased slightly from 29 in Q2 2024 to 28.5 in Q3 2024.

The average pre-approval letter loan amount increased by 26% from $308,681 in Q2 to $388,215 in Q3, fueled by a 23% increase in the average sales price from $362,780 to $446,390. The average down payment shrank marginally from 15% in Q2 to 13% in Q3.

Conventional loans remained the most popular for pre-approved borrowers, staying consistent at 76%. All categories held steady through Q3, with FHA pre-approvals barely climbing from 17.8% to 17.9%, while VA (4%) and USDA (1%) maintained their share from Q2 to Q3 2024.

“With the Fed’s announcement that rates will likely drop again, it’s not surprising to see steady-to-slow developments as homebuyers wait for the rate,” said LenderLogix Co-Founder and CEO Patrick O’Brien.

Borrower Conversion

Of the borrowers using QuickQual in Q2 2024, the average number of days between pre-approval and loan submission increased nearly 7% from 85 to 91 days in Q3. The longest duration between pre-approval and application decreased by ten days from 603 in Q2 to 593 in Q3. The conversion rate from borrowers using QuickQual to loan application decreased slightly from 58% to 56% in Q3. Borrowers generated an average of eight pre-approval letters before converting.

“Homebuyers’ behavior has a lot to do with expectations, and we are certainly seeing that with our holding pattern,” O’Brien noted. “With Fannie Mae signaling this fall that its 30-year fixed rate will land at 6.2% by the end of the year, bringing it in line with the MBA’s expected rate before both glide in below 6% in 2025, we can see the effect of anticipation. Nonetheless, there are those who have found what they are looking for now, and they know those lowered rates will mean more demand that could place them in a bidding war.”

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix:

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-q3-2024-homebuyer-intelligence-report-data-homebuyers-hold-steady-and-wait-for-the-rate/

M2 Lending Solutions Taps LenderLogix to Provide Automated, Digital-First Borrower Experience

M2 lending has implemented QuickQual, LiteSpeed, and Milestone Text Updates to provide borrowers high-touch, white-glove service

BUFFALO, N.Y., Sept. 24, 2024 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, recently announced the addition of M2 Lending to its roster of clients utilizing LiteSpeed, QuickQual and Milestone Text Updates.

Image caption: LenderLogix.

“Our philosophy is to find the best mortgage product for each customer, so it made sense to apply this same philosophy to our technology,” said Chris Murphy, Founder and Principal at M2 Lending. “We started our relationship with LenderLogix solely using QuickQual, but the sleek design and functionality of the platform quickly led us to reevaluate our mortgage tech stack to see how LenderLogix could help us deliver an even better borrower experience in other areas.”

Leveraging LiteSpeed and QuickQual at the front end of the origination process ensures a smooth transition for M2 Lending’s borrowers from pre-qualification to application. QuickQual and LiteSpeed provide a consistent, modern, streamlined experience from the first point of contact through application. LenderLogix Milestone Text Updates help keep real estate agents, borrowers, and LOs on the same page through automatic text alerts. Lenders can configure the system using specific field identifications or milestones to deliver custom status updates to all interested parties, ensuring that the right message gets delivered at the right time.

“As a former loan officer, I’ve seen firsthand the gaps in the mortgage origination process that often get overlooked,” said Patrick O’Brien, Co-Founder and CEO of LenderLogix. “LenderLogix was founded with the goal to create digital tools that make a real, measurable impact by addressing these areas. Instead of chasing the latest trends, we focus on refining existing processes so lenders of any size can deliver a superior borrower experience.”

About LenderLogix

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/m2-lending-solutions-taps-lenderlogix-to-provide-automated-digital-first-borrower-experience/

LenderLogix adds mortgage sales expert Ben Head as account executive

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Ben Head has joined the company as an account executive responsible for expanding LenderLogix' market share.

"With the increasing demand for our product suite amongst loan officers and lenders alike, we needed an experienced sales professional to help us manage our growth opportunities in the current market," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Ben's sales experience and early days as a loan officer make him a natural fit for our organization, and we're looking forward to him helping us further showcase our continuously evolving product suite."

Possessing more than 20 years of sales experience in the mortgage industry, Head joins LenderLogix from Enact Mortgage Insurance, where he served as a strategic accounts representative for more than 12 years. While with Enact, he managed the first $3 billion national mortgage banker account in company history and was the top national accounts representative for the last five years, covering two out of the top five mortgage bankers in the country. Before Enact, Head held sales positions with Forward Financial and Prime Mortgage Company.

"Throughout my career, I've had the privilege of serving on technology and marketing committees within the mortgage industry, which has kept me at the forefront of this ever-changing field," said Head. "It's a greater privilege to be directly involved in the action now as a part of the LenderLogix team. I look forward to blending these areas of my expertise and being more directly involved with LenderLogix users."

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Ben Head has joined the company as an account executive responsible for expanding LenderLogix' market share.

Related link: https://www.lenderlogix.com/

LenderLogix’s Patrick O’Brien Recognized as a 2024 HousingWire Vanguard Honoree

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Co-founder and CEO Patrick O'Brien has been selected by HousingWire as a 2024 Vanguard Award winner.

Since the launch of LenderLogix in 2016, O'Brien has envisioned a meaningful and agile way for lenders to provide borrowers with the digital mortgage experience they desire. Today, that vision has culminated in the company's suite of solutions: LiteSpeed, QuickQual and Fee Chaser. These tools have enabled hundreds of lending organizations to quickly and easily enhance their borrower-facing digital presence without compromising profitability.

"While technology is essential in the mortgage industry, outdated systems often prevent lenders from achieving operational efficiency. That's why we developed simple, automated solutions to bring efficiency to both mortgage lenders and borrowers," said LenderLogix's Patrick O'Brien. "There's nothing more rewarding for our team than seeing lenders' reactions when they discover how these solutions can transform their businesses."

"The HousingWire Vanguards award recognizes the most outstanding executive leaders in mortgage and real estate - executives who make a real impact by driving innovation, setting strategic direction, and steering their organizations toward monumental achievements," said Clayton Collins, CEO of HW Media. "These leaders play a crucial role in shaping the industry's future, with far-reaching impacts on market trends, operational efficiencies, and overall industry success. By leading with vision and decisiveness, HousingWire Vanguards propel their companies toward success and significantly influence the broader landscape of the housing economy."

HousingWire's 2024 Vanguards have led their respective organizations to greatness while overcoming the challenges the housing economy has faced over recent years. These 100 honorees were carefully selected by HousingWire's selection committee for their vital contributions to their companies and their dynamic influence in transforming mortgage and real estate. The complete list of HousingWire Insiders Award winners can be found at www.housingwire.com

About LenderLogix

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/.

About HousingWire

HousingWire is an information services company that provides unique data and research, respected business journalism and must-attend events for housing leaders to use to advance their understanding and business outcomes. Our vision is a world in which housing leaders have a complete view of the housing market and a broad community of peers with whom they can connect. We are committed to delivering the data, analytics, media, and events that advance this vision. Because housing is too important for narrow perspectives and missed connections. Informed housing leaders are better housing leaders. A connected housing industry is a better housing industry. And the full picture always reveals new opportunities. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Co-founder and CEO Patrick O'Brien has been selected by HousingWire as a 2024 Vanguard Award winner.

Related link: https://www.lenderlogix.com/

LenderLogix Integrates Income, Employment Verification Services from Truv into LiteSpeed Mortgage Point-of-Sale

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced its integration with automated employment and income technology provider Truv. Through the integration, lenders can now access Truv's consumer-permissioned data platform through LenderLogix's point-of-sale (POS) LiteSpeed to obtain direct-to-source income and employment verification for mortgage applicants.

"With the integration of Truv's verification capabilities and LiteSpeed, lenders can now enjoy a streamlined workflow that reduces administrative tasks and frees up resources for improved customer service," said LenderLogix Co-Founder and CEO Patrick O'Brien. "This powerful combination eliminates the need for third-party verification services, leading to significant cost savings and lower overall loan processing expenses. Additionally, the automation speeds up loan approvals, allowing lenders to close loans faster and optimize their operational throughput.

Truv's technology covers 96% of the U.S. workforce and is proven to save lenders 60-80% compared to legacy verification providers. With immediate access to accurate income and employment data from Truv inside LiteSpeed, lenders can eliminate delays caused by manual document collection and improve review speed by obtaining more complete loan files from the point of application. Borrowers benefit from a simplified and quicker application process, reducing the number of touchpoints and providing a more user-friendly experience.

"Our integration with LenderLogix marks a significant advancement in our mission to revolutionize the mortgage origination process," said Kirill Klokov, CEO of Truv. "By combining our strengths, we are providing mortgage lenders with the tools they need to deliver exceptional service to their clients while improving operational efficiency."

About Truv

Truv is a leading provider of innovative solutions for income and employment verification. Committed to transforming the mortgage industry, Truv offers real-time, direct-source verification technology that enhances accuracy, efficiency, and borrower experience. For more information, visit Truv's Website.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced its integration with automated employment and income technology provider Truv. Through the integration, lenders can now access Truv's consumer-permissioned data platform through LenderLogix's point-of-sale (POS) LiteSpeed to obtain direct-to-source income and employment verification for mortgage applicants.

Related link: https://www.lenderlogix.com/

LenderLogix Q2 2024 Homebuyer Intelligence Report Data Shows Home Buying Activity and Fees Collected by Fee Chaser Remain Steady Thus Far in 2024

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2024.

Pre-Approvals

In Q2 2024, borrowers generated 58,057 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an 8% increase from Q1 2024. The average number of pre-approved borrowers per loan officer increased from 25 in Q1 2024 to 29 in Q2 2024.

The average pre-approval letter loan amount slightly decreased from $309,771 in Q1 to $308,681 in Q2. However, the average sales price slightly increased from $358,175 to $362,780. The average down payment size shows a change, marginally increased from 13.6% in Q1 to 14.6%.

Conventional loans remained the most popular loan type for pre-approved borrowers, staying consistent at 76%. FHA pre-approvals increased incrementally from 17.6% to 17.8%. VA (4%) and USDA share (1%) maintained their share from Q1 to Q2 2024.

"Overall borrower activity has stayed consistent in 2024," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Given these steady numbers, loan officers leveraging our products have been able to maintain steady business and origination levels. With QuickQual's conversation rate at 58% and the average per fee collection size at $646, loan officers are continuing to focus on what's working for them in the current market."

Borrower Conversion

Of the borrowers using QuickQual in Q1 2024, the average number of days between pre-approval and loan submission increased nearly 8% to 85 days compared to 78.29 days in Q1. The most prolonged duration between pre-approval and application decreased from 699 days in Q1 to 603 days. Despite this significant change, the conversion from borrowers using QuickQual to loan application increased slightly to 58% from 57% in Q1. Within this subset, borrowers generated an average of 8.7 pre-approval letters before converting.

"While the Federal Reserve's decision to hold on rate cuts until possibly later in the year may have dampened lenders' expectations, borrowers seem to have come to terms with the current state of interest rates and are committed to buying, though perhaps not to the same degree as in previous purchase cycles," O'Brien noted. "The lesson we've observed through the first half of 2024 is that there is business to be had, but lenders may need to dig deeper to find it."

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2024.

Related link: https://www.lenderlogix.com/

American Pacific Mortgage Picks Fee Chaser by LenderLogix to Collect Upfront Borrower Fees

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, recently announced the addition of American Pacific Mortgage to its roster of clients utilizing Fee Chaser. Employing Fee Chaser enables American Pacific Mortgage to efficiently and compliantly collect initial mortgage-related fees from borrowers.

The seamless integration of Fee Chaser with American Pacific Mortgage's loan origination software (LOS) allows its loan officers and support personnel to effortlessly send a unique payment link to borrowers with a single click. Following the completion of payment through the provided link, Fee Chaser promptly issues a receipt to all involved parties and updates the loan documentation within the LOS. The process from sending the payment link to receipt of payment typically spans five minutes.

"Eliminating manual processes and enhancing borrower retention are two of our top priorities in the current market, and Fee Chaser helps us tackle both," said Ned Payant, CEO at American Pacific Mortgage. "Fee Chaser's automated process puts time back in our loan officers' day and promotes cost savings to our business. It's helped us not only enhance the borrower experience but streamline our daily operations. It's brought hefty results to our business just from a singular click in our LOS."

"Given the competitive nature in today's market, wherever lenders can automate the mortgage process can be the difference between unnecessary cost and borrower retention," said Patrick O'Brien, Co-Founder and CEO of LenderLogix. "Fee Chaser not only helps reduce manual processes but also improves the borrower experience by providing a secure, digital portal for capturing sensitive payment information."

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, recently announced the addition of American Pacific Mortgage to its roster of clients utilizing Fee Chaser. Employing Fee Chaser enables American Pacific Mortgage to efficiently and compliantly collect initial mortgage-related fees from borrowers.

Related link: https://www.lenderlogix.com/

OneTrust Home Loans Selects LenderLogix’s Fee Chaser to Eliminate Manual Processes

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced OneTrust Home Loans as its newest Fee Chaser client. Using Fee Chaser, OneTrust Home Loans can streamline its operations and compliantly collect upfront fees from its borrowers.

Fee Chaser's direct integration with OneTrust Home Loans' loan origination system (LOS) enables loan officers and other support staff to send a unique payment link to the borrower with one click. Once borrowers pay using the link, Fee Chaser delivers a receipt to all parties and automatically updates the loan file within the LOS. The average turn time between sending the link and receiving payment is five minutes.

"Providing a seamless borrower experience and giving our loan officers the tools they need to be successful is more important than ever in today's market. Fee Chaser turns the manual process of collecting payment information into a quick and efficient process for all parties," said James Hecht, CEO of OneTrust Home Loans. "We're thrilled to partner with such an innovative company as LenderLogix and look forward to the continual benefits its technology delivers."

"It's amazing how simple changes can make a tremendous difference," said Patrick O'Brien, Co-Founder and CEO of LenderLogix. "By shifting payment for underwriting- and processing-related fees earlier in the transaction, lenders like OneTrust can save thousands of dollars while also improving borrower 'stickiness.' Solving problems like these is exactly what the LenderLogix product suite is designed to do."

About LenderLogix:

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced OneTrust Home Loans as its newest Fee Chaser client. Using Fee Chaser, OneTrust Home Loans can streamline its operations and compliantly collect upfront fees from its borrowers.

Related link: https://www.lenderlogix.com/

LenderLogix Q1 2024 Homebuyer Intelligence Report Data Shows Increase in Home Buying Activity and Fees Collected by Fee Chaser

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the first quarter (Q1) of 2024.

Pre-Approvals

In Q1 2024, borrowers generated 53,583 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an increase of 53% from Q4 2023. The average number of pre-approved borrowers per loan officer slightly increased from 20.4 in Q4 2023 to 25 in Q1 2024.

The average pre-approval letter loan amount increased 5% from $294,229 in Q4 of 2023 to $309,771 in Q1. With the average sales price following, increasing 3.7% from $345,351 in Q4 to $358,175. The average down payment size shows a change, decreasing 8% from 14.8% in Q4 to 13.6% in Q1.

Conventional loans remained the most popular loan type for pre-approved borrowers, slightly increasing to 76%. FHA pre-approvals declined incrementally to 17.6% versus 18.5% in Q4. VA (4%) and USDA share (1%) maintain their share from Q4 2023 to Q1.

"Given the jump in QuickQual generated approval letters and the 650% increase in dollar per fee collected through Fee Chaser, all signs point to a promising spring homebuying season," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Lenders are giving borrowers the tools they need to be successful in a hot market and covering their bases with early fee collection to ensure they can take financial advantage of the momentary uptick in volume."

Borrower Conversion

Of the borrowers using QuickQual in Q4 2023, the average number of days between pre-approval and loan submission decreased nearly 10% to 78.29 days, compared to 86.9 days in Q4. The most prolonged duration between pre-approval and application increased slightly from 612 days in Q4 to 699 days in Q1. Despite this significant change, the conversion from borrowers using QuickQual to loan applications increased from 55% in Q4 to 57% in Q1. Within this subset, borrowers generated an average of 7.95 pre-approval letters before converting.

Data from the Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the first quarter (Q1) of 2024.

Related link: https://www.lenderlogix.com/

LenderLogix Announces POS Integration with Informative Research’s AccountChek to Enhance the Mortgage Borrower Experience

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, announced the integration of AccountChek by Informative Research into its point-of-sale system LiteSpeed. This integration blends AccountChek's pioneering verification technology into LiteSpeed to seamlessly enhance the borrower experience and optimize the loan origination process to ensure a smooth experience for borrowers and users alike.

"Enhancing our clients' tech stacks with simple, digital-first tools is the foundation of our company's mission, and it's integrations like these that help us further that mission," said LenderLogix Co-Founder and CEO Patrick O'Brien. "By leveraging AccountChek's advanced verification capabilities, we can provide LOs with greater efficiency and accuracy, ensuring all parties experience the highest service standards."

AccountChek by Informative Research streamlines the lending process by providing advanced verification capabilities and seamless data integration for lenders and borrowers alike. With AccountChek's Verification of Assets (VOA), LenderLogix clients can expect enhanced efficiency and accuracy in the loan origination process, with VOA orders routed through the Encompass loan number and documents and data populating directly into the Encompass loan file. The VOA data will flow directly into the automated underwriting systems at the GSEs, allowing the lender seamless access to programs like Day 1 Certainty®, Asset and Income Modeler (AIM) and pre-close employment verifications.

"The integration of AccountChek into the LenderLogix LiteSpeed platform demonstrates our shared commitment to innovation and customer satisfaction while also enabling LenderLogix's clients to streamline the underwriting process by obtaining key verifications at the point of application," said Informative Research's Head of AccountChek Brian Francis. "We look forward to continuing our partnership to deliver impactful innovation to the mortgage lending community and help lenders advance their digital transformation efforts."

About Informative Research:

Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves over 3,000 mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://www.informativeresearch.com/.

About LenderLogix:

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/.

RELATED LINKS:

https://www.informativeresearch.com/accountchek/

https://lenderlogix.com/litespeed-point-of-sale

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, announced the integration of AccountChek by Informative Research into its point-of-sale system LiteSpeed. This integration blends AccountChek's pioneering verification technology into LiteSpeed to seamlessly enhance the borrower experience and optimize the loan origination process to ensure a smooth experience for borrowers and users alike.

Related link: https://www.lenderlogix.com/

LenderLogix Celebrates its Third Appearance on HousingWire’s annual Tech100 List of Innovative Mortgage Technology Firms

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today announced it has been named to HousingWire magazine's annual Tech100 list. The Tech100 award seeks to highlight the most innovative technology companies across the housing sector.

LenderLogix was founded with the mission of delivering a meaningful and agile way for lenders to provide borrowers with a custom, digital-forward mortgage experience. This vision has resulted in the company's current suite of solutions, which have enabled hundreds of lending organizations to improve their borrower-facing digital footprint quickly and easily without squandering their bottom line.

"Lenders' need for agile technology is only growing. As the mortgage landscape shifts and consumer expectations grow, using outdated antique systems no longer meets borrower expectations, to put it simply," said LenderLogix founder and CEO Patrick O'Brien. "We're extremely proud of the better user experience we've brought for all parties through our product suite and thank HousingWire for recognizing our efforts."

LenderLogix offers a suite of tightly integrated white-labeled solutions for lenders of all sizes. Its product suite includes LiteSpeed, a white-labeled point of sale (POS) solution; QuickQual, which provides borrowers and real estate agents the ability to run payment and closing cost scenarios and generate/update pre-approval letters instantly; Fee Chaser, which sends the borrower a unique link to pay mortgage origination fees from any device seamlessly; and CRA Analytics' intuitive dashboards that enable lenders to track and measure their affordable lending and Community Reinvestment Act-related initiatives.

"One of the most exciting parts of my role at HousingWire is having a front row seat to witness stunning innovation in mortgage and real estate," said Clayton Collins, CEO of HW Media. "HousingWire is dedicated to serving housing professionals with the full picture, and the full picture isn't complete without deep and insightful coverage and resources to help mortgage and real estate professionals uncover the innovators and solutions that drive growth and efficiency in the housing sector."

To view the full list of HW Tech100 winners, visit: https://www.housingwire.com/articles/announcing-the-2024-tech100-mortgage-winners/

About LenderLogix:

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/.

About HousingWire:

HousingWire is an information services company that provides unique data and research, respected business journalism and must-attend events for housing leaders to use to advance their understanding and business outcomes. Our vision is a world in which housing leaders have a complete view of the housing market, and a broad community of peers with whom they can connect. We are committed to delivering the data, analytics, media, and events that advance this vision.

Because housing is too important for narrow perspectives and missed connections. Informed housing leaders are better housing leaders. A connected housing industry is a better housing industry. And the full picture always reveals new opportunities.

Explore more at www.housingwire.com.

LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today announced it has been named to HousingWire magazine's annual Tech100 list. The Tech100 award seeks to highlight the most innovative technology companies across the housing sector.

Related link: https://www.lenderlogix.com/

LenderLogix Q4 2023 Homebuyer Intelligence Report Data Shows Steady Home Buying Activity

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the fourth quarter (Q4) of 2023.

Pre-Approvals

In Q4 2023, borrowers generated 35,008 pre-approval letters through LenderLogix's QuickQual pre-approval platform, a decrease of 23% from Q3. The average number of pre-approved borrowers per loan officer decreased by 15% from 24 in Q3 to 20.4 in Q4.

The average pre-approval letter loan amount in Q4 decreased slightly by less than 1%, to $294,229, compared to Q3's average loan amount of $295,312. The average sales price also stayed nearly the same, increasing less than 1% from $345,031 in Q3 to $345,351 in Q4. The average down payment size shows a slight uptick, moving from 14.5% in Q3 to 14.8% in Q4.

Conventional loans remained the most popular loan type for pre-approved borrowers, with its share remaining steady at 75%. FHA pre-approvals declined incrementally to 18.5% versus 19% in Q3, as did VA (4%) and USDA share (1%).

"Our Q4 findings remain steady in comparison to Q3. With the challenges homebuyers face remaining the same between the two quarters, it's no surprise," said LenderLogix Co-Founder and CEO Patrick O'Brien. "As we gear up for the spring market, it's crucial for lenders to remain vigilant in acquiring the tools and resources essential for enhancing affordability in home buying and guiding potential borrowers through the process.

Borrower Conversion

Of the borrowers using QuickQual in Q4 2023, the average number of days between pre-approval and loan submission decreased to 86.9 days, compared to 89.8 days in Q3. The most prolonged duration between pre-approval and application decreased significantly from 1,274 days in Q3 to 612 days in Q4. Despite this significant change, the conversion from borrowers using QuickQual to loan application increased slightly from 53% in Q3 to 55% in Q4. Within this subset, borrowers generated an average of 8.45 pre-approval letters before converting.

"With the change in interest rates over the last quarter of 2023, borrowers are stepping off the sidelines," O'Brien added. "Given the Federal Reserve's announcement of several interest rate cuts to come in 2024, we can expect this kind of borrower activity to continue to rise."

Data from the Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit https://www.lenderlogix.com/

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the fourth quarter (Q4) of 2023.

Related link: https://www.lenderlogix.com/

Legacy Mutual Selects LenderLogix’s QuickQual to Improve Transparency and Responsiveness During Mortgage Borrowers’ Home Search

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Legacy Mutual Mortgage has selected its pre-approval letter generation tool QuickQual to provide borrowers with a white-labeled, digitally-driven entry point into their homebuying experience.

"Our customer relationships go beyond a transaction. We look at all of our clients as referral partners and consistently strive to grow our relationship with them," said Raven Johnson, Vice President of Business Systems at Legacy Mutual Mortgage. "With QuickQual, we're able to strengthen those relationships with more borrower transparency into their potential mortgage. It also enables our loan officers to handle more transactions at once while staying involved in the borrower's home search."

With QuickQual, loan officers set parameters within the system based on the borrower's maximum pre-approved loan amount. From there, borrowers and their real estate agents can generate pre-approval letters on demand and run payment scenarios based on those parameters, thus providing borrowers with a deeper understanding of their capacity to purchase on a house-by-house basis.

"The mortgage lending landscape has been under heavy change over the last few years and especially right now," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Updating technology to add more transparency and adapt to consumers' expectations is a pressure that is only going to grow for lenders. We love helping lenders stay ahead of the curve, and it's no different for Legacy Mutual. Hats off to them for continually improving their borrower experience."

About LenderLogix:

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/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Legacy Mutual Mortgage has selected its pre-approval letter generation tool QuickQual to provide borrowers with a white-labeled, digitally-driven entry point into their homebuying experience.

Related link: https://www.lenderlogix.com/

LenderLogix Co-Founder and Chief Technology Officer Scott Falbo named a 2023 HousingWire Tech Trendsetter

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Co-founder and Chief Technology Officer Scott Falbo has been selected by HousingWire as a 2023 Tech Trendsetter Award winner. In its fifth year, HousingWire's Tech Trendsetters award recognizes the most impactful and innovative technology leaders serving the housing economy.

"HousingWire's Tech Trendsetters award provides a unique platform for us to shine a spotlight on the visionaries steering the course of the tech organizations that are reshaping the housing landscape," HousingWire's Editor in Chief Sarah Wheeler said. "These trailblazers play a pivotal role in the success of their mortgage and real estate clientele. Once again, they have exceeded expectations, addressing some of the most pressing challenges within the housing sector with ingenuity and determination."

Leveraging his experience in developing software within other highly regulated industries and direct lender feedback on existing pain points, Falbo architected the current LenderLogix product suite to help lenders address gaps in their existing tech stack that have prevented their organizations from delivering the agile digital mortgage experience borrowers crave. As a result, hundreds of lending organizations can now provide a more cohesive and responsive digital experience quickly, easily and cost-effectively through the LenderLogix technology suite, which includes LiteSpeed, QuickQual, Fee Chaser and CRA Analytics.

"Our team is fortunate to be made up of former mortgage lending professionals and technologists, which leads to empathy for mortgage lenders sitting at the core of our company culture," Falbo said. "Though digital point-of-sale and origination technologies have become table stakes in today's mortgage market, every decision we make within our platform of digital lending tools is with the mortgage lender and their customers at the center. By keeping this in mind, we help lenders deliver incredible experiences to their borrowers and real estate partners."

The 2023 HousingWire Tech Trendsetters were selected by HousingWire's selection committee based on their vital and dynamic contributions to their organizations and the housing industry as a whole. The complete list of HousingWire Tech Trendsetter Award recipients can be found at www.housingwire.com

About LenderLogix

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/.

About HousingWire

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches more than 70,000 newsletter subscribers daily and 1 million unique visitors each month and has more than 5,000 members and event attendees. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Co-founder and Chief Technology Officer Scott Falbo has been selected by HousingWire as a 2023 Tech Trendsetter Award winner. In its fifth year, HousingWire's Tech Trendsetters award recognizes the most impactful and innovative technology leaders serving the housing economy.

Related link: https://www.lenderlogix.com/

Encompass Lending Group Adds LiteSpeed and QuickQual from LenderLogix to Its Digital Mortgage Tech Stack

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced that Encompass Lending Group, a wholly owned subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), has selected its streamlined point-of-sale (POS) platform LiteSpeed and QuickQual, a loan origination system (LOS) add-on that allows prospective borrowers and real estate agents to run payment and closing costs scenarios. Together, these tools empower Encompass Lending Group's loan officers to deliver a digital-first borrower experience throughout the pre-approval and loan application process.

Leveraging LiteSpeed and QuickQual at the front end of its origination process ensures a smooth transition for Encompass Lending Group's borrowers from pre-qualification to application. With QuickQual and LiteSpeed, Encompass Lending Group's borrowers experience a consistent, modern, streamlined experience from the first point of contact through application to complement the high-touch service its loan officers provide.

"We understand every borrower is different. Our services are custom-tailored to every borrower, and we thought our technology should reflect that," said Encompass Lending Group's Paul Marsh, EVP of National Sales. "QuickQual and LiteSpeed enable us to deliver a highly engaging experience for our borrowers from the early stages of the relationship, which helps us increase our conversion rates and provides a tremendous boost to our sales team's efforts."

"Today's borrowers have more options than ever when selecting a lender. As a former lender, it's easy to get bogged down in the noise of technology 'solutions.' LiteSpeed and QuickQual solve the present-day challenges of loan officers without the bulk," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Our products provide personalized, digital experiences for the borrower while saving a few more minutes per transaction in the loan officer's day. With the seamless integration between our products and the LOS, it's a win-win for everyone."

About LenderLogix:

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/.

About Fathom Holdings Inc.:

Fathom Holdings Inc. is a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent. The Company's brands include Fathom Realty, Dagley Insurance, Encompass Lending, intelliAgent, LiveBy, Real Results, and Verus Title. For more information, visit https://fathominc.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced that Encompass Lending Group, a wholly owned subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), has selected its streamlined point-of-sale (POS) platform LiteSpeed and QuickQual, a loan origination system (LOS) add-on that allows prospective borrowers and real estate agents to run payment and closing costs scenarios.

Related link: https://www.lenderlogix.com/

LenderLogix Q3 2023 Homebuyer Intelligence Report Data Shows Slight Decline in Home Buying Activity

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the third quarter (Q3) of 2023.

Pre-Approvals

In Q3 2023, borrowers generated 45,527 pre-approval letters through LenderLogix's QuickQual pre-approval platform, a decrease of nearly 23% from Q2. The average of pre-approved borrowers per loan officer decreased by 11.6% from 28 in Q2 to just over 24 in Q3.

The average pre-approval letter loan amount in Q3 also decreased slightly by 2.5% to $295,312 compared to Q2's average loan amount of $302,836. However, the average sales price stayed nearly the same, decreasing less than 1% from $348,348 in Q2 to $345,031 in Q3, with an average down payment size of 14.5%.

Conventional loans remained the most popular loan type for pre-approved borrowers, with its share slightly rising to 75% versus 71% in Q2. FHA pre-approvals slightly declined to 19% versus 22% in Q2, as did VA (4%) and USDA share (1%).

"Overall, Q3 showed higher down payments, with fewer home shoppers in the market than last quarter, which makes sense given that it is continually getting more expensive for consumers to purchase a home," said LenderLogix Co-Founder and CEO Patrick O'Brien. "As we enter into historically lower volume months, lenders will need to continue to be diligent in equipping themselves with the tools and resources necessary to make home buying more affordable and educate potential borrowers along the way."

Borrower Conversion

Of the borrowers using QuickQual in Q3 2023, the average number of days between pre-approval and loan submission increased incrementally to 89.8 days, compared to 89.3 days in Q2. The most prolonged duration between pre-approval and application also increased to 1,274 days in Q3 from 994 days in Q2. While the increased length between pre-approval and loan submission did not dissuade borrowers in Q2, the same cannot be said for Q3, as conversions from borrowers using QuickQual declined from 58% in Q2 to 53% in Q3. Within this subset, borrowers generated an average of 8.57 pre-approval letters before converting.

"While the overall number of potential homebuyers is down, 'patience' seems to be the mantra for those still in the market, and lenders would do well to follow suit, as industry analysts have revised their forecasts to reflect a tough Q4 and Q1," O'Brien added. "Though there may be fewer buyers and the road to purchase longer than anyone would like, there is still business out there for lenders to capture, and proactive, ongoing communication and education will be key to prospect retention and conversion."

Data from the Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix:

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools.

Related link: https://www.lenderlogix.com/

LenderLogix Co-Founder and CEO Patrick O’Brien named a 2023 HousingWire Vanguard honoree

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Co-founder and CEO Patrick O'Brien has been selected by HousingWire as a 2023 Vanguard Award winner.

O'Brien co-founded LenderLogix to provide loan officers and lenders the tools they need to deliver a digital-first borrower experience without hefty implementation times, investment or upkeep. This vision has resulted in a suite of products designed to save lenders time and money while delivering exceptional, digitally-driven borrower experiences from the initial point of contact - all of which play a crucial role in lenders' ability to differentiate themselves in today's highly competitive market.

"Technology is a vital part of the mortgage business, but legacy tech is often hindering lenders' automation and falling short in terms of efficiencies and cost-effectiveness. These pain points led to our three core products - LiteSpeed, Fee Chaser and QuickQual," said LenderLogix O'Brien. "The LenderLogix team and I love watching lenders' faces light up when they realize the power and ease of use these three products bring to individual businesses."

"The Vanguards award spotlights exceptional c-suite leaders in the housing sector - individuals who continually drive innovation and adapt resiliently in the face of economic challenges," said Clayton Collins, CEO of HW Media. "This year's honorees have demonstrated a razor-sharp commitment to their organization's objectives, astutely identifying and capitalizing on opportunities as they arise, steadfastly refusing to accept the ordinary."

The HW Vanguard Awards program recognizes C-level industry professionals and business leaders who have become experts in their respective fields within housing and mortgage finance - those whose leadership is moving markets forward every day. The complete list of HousingWire Insiders Award winners can be found at www.housingwire.com

About LenderLogix:

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/.

About HousingWire:

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches more than 70,000 newsletter subscribers daily and 1 million unique visitors each month and has more than 5,000 members and event attendees. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Co-founder and CEO Patrick O'Brien has been selected by HousingWire as a 2023 Vanguard Award winner.

Related link: https://www.lenderlogix.com/

Affinity Plus Federal Credit Union Selects LenderLogix’s QuickQual to Improve Transparency and Responsiveness During Mortgage Borrowers’ Home Search

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Minnesota-based Affinity Plus Federal Credit Union (Affinity Plus) has selected its pre-approval letter generation tool QuickQual to provide borrowers with a white-labeled, digitally-driven entry point into their homebuying experience.

"Each member engaging in the mortgage process is different, and we thought our technology should reflect that experience," said Tara Rutz, Mortgage Servicing and Origination Manager, Affinity Plus Federal Credit Union. "QuickQual enables us to deliver a highly engaging experience for our members, including generating pre-approval letters quickly and efficiently. Additionally, the interactive tool will allow members to preview real-time costs (down payment, monthly payments, cash to close, etc...) of purchasing their next home and adjust accordingly to the properties they are viewing within the parameters set forth in the pre-approval."

With QuickQual, loan officers set parameters within the system based on the borrower's maximum pre-approved loan amount. From there, borrowers and their real estate agents can generate pre-approval letters on demand and run payment scenarios based on those parameters, thus providing borrowers with a deeper understanding of their capacity to purchase on a house-by-house basis.

"Affinity Plus is a perfect example of the difference thoughtful tech investment can make in helping credit unions compete effectively in today's market," said LenderLogix Co-Founder and CEO Patrick O'Brien. "This is exactly what we intended when designing our suite of products - to improve lenders' operations by addressing the gaps in their existing tech stack and provide a stellar user experience for their customers."

About LenderLogix:

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/.

RELATED LINKS:

https://lenderlogix.com/quickqual-demo

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Minnesota-based Affinity Plus Federal Credit Union (Affinity Plus) has selected its pre-approval letter generation tool QuickQual to provide borrowers with a white-labeled, digitally-driven entry point into their homebuying experience.

Related link: https://www.lenderlogix.com/

LenderLogix integrates LiteSpeed mortgage point of sale system with Encompass by ICE Mortgage Technology

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced the completion of the integration between LiteSpeed, a streamlined point-of-sale (POS) system designed for mortgage lenders and Encompass® by ICE Mortgage Technology, part of ICE (NYSE: ICE) and a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. Through the integration, leads flow directly from LiteSpeed to Encompass, providing loan officers with the combined power and accessibility of their web-based LOS while on the go.

"Though digital point-of-sale and origination technologies have become table stakes in today's mortgage market, LiteSpeed combined with Encompass and ICE's extensive suite of open APIs provides lenders a distinct competitive advantage," said Scott Falbo, Chief Technology Officer and Co-Founder at LenderLogix. "Through its powerful cloud-based ecosystem, Encompass works hand-in-hand with LiteSpeed, delivering easy access for loan officers to manage new and existing leads whether in the office or on the go. By leveraging the web-based workflow structure they're already familiar with, loan officers can quickly and efficiently deliver incredible experiences to their borrowers."

LiteSpeed was strategically and intentionally designed to provide borrowers with a simple yet powerful user experience. The white-labeled platform guides borrowers through singular, auto-advancing application questions using animated iconography and dynamic messaging. Once the application is complete, borrowers then receive confirmation emails with next steps, a secure document upload link and more from their selected loan originator.

Encompass provides loan officers with the ability to access their web-based LOS from anywhere, enabling them to maximize productivity across their entire workflow. This integration between LiteSpeed and Encompass leverages the latest Encompass Developer Connect API(TM) Platform, ensuring a seamless flow of data, while also delivering a frictionless and highly automated process for borrowers.

"With thousands of lenders adopting the Encompass loan origination platform, LenderLogix has invested extensively in its integrations with the Encompass solution suite," said Patrick O'Brien, CEO and Co-Founder of LenderLogix. "By combining LiteSpeed's easy to use digital point-of-sale technology with the pipeline and lead management tools within Encompass, this integration provides loan officers with even more functionality to serve their borrowers whenever and wherever they're needed."

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of 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. For more information, visit https://www.lenderlogix.com/.

About ICE Mortgage Technology

ICE Mortgage Technology® is part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. Backed by ICE's global resources, we offer a truly differentiated digital platform that provides straight-through processing for a more comprehensive end-to-end workflow than any other provider in the market. We reach almost every mortgage in the U.S. by combining the native automation of Encompass® with the e-collaboration and e-recording capabilities of Simplifile®, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS®. Ultimately, our technology enables people across the industry to focus on personal connections when they need it most, and support borrowers for a better journey of homeownership. Visit icemortgagetechnology.com to learn more. ICE Mortgage Technology combines technology, data and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality and efficiency.

Visit https://www.icemortgagetechnology.com/ or call (877) 355-4362 to learn more.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.

RELATED LINKS:

https://www.icemortgagetechnology.com/products/encompass-for-loan-officers

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced the completion of the integration between LiteSpeed, a streamlined point-of-sale (POS) system designed for mortgage lenders and Encompass® by ICE Mortgage Technology, part of ICE (NYSE: ICE) and a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity.

Related link: https://www.lenderlogix.com/

LenderLogix’s Derrick Enderby recognized by HousingWire Magazine in its 2023 HW Insiders award program

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Director of Customer Success Derrick Enderby has been chosen by HousingWire as a 2023 Insiders Award winner. Through its Insiders award program, HousingWire seeks to recognize individuals who serve their companies in outstanding ways through operations, product development and other ways that make their company successful.

"Derrick's pursuit of excellence has had a tremendous impact on both our customers and LenderLogix's success, so it is no surprise that HousingWire has recognized his efforts," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Not only has Derrick created best practices and systems for our entire customer success department to ensure our clients receive the highest levels of service, but his dedication to helping our users get the most out of our technology is undeniable."

Under Enderby's guidance, the average loan officer using QuickQual has experienced a 27% increase in the number of pre-approvals issued on the platform. He also created an internal customer relationship management system to highlight opportunities to educate clients on ways to expand their use of their existing LenderLogix product. In addition, Enderby authored an internal Customer Success Playbook to outline specific touchpoints that LenderLogix Customer Success Specialists utilize to remain engaged and invested in clients' businesses.

"We publish the HousingWire Insiders award with the goal of shining a spotlight on the intrapreneurs and operational leaders who work ambitiously to support the success of their organizations," HousingWire Editor in Chief Sarah Wheeler said. "Since its launch eight years ago, we have been able to recognize the accomplishments of hundreds of Insiders whose dedication and expertise have resulted in enormous contributions to the housing landscape. Accomplishments which can often be behind-the-scenes but garner massive results."

The complete list of HousingWire Insiders Award winners can be found at www.housingwire.com

About LenderLogix

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/.

About HousingWire

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches more than 70,000 newsletter subscribers daily and 1 million unique visitors each month and has more than 5,000 members and event attendees. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Director of Customer Success Derrick Enderby has been chosen by HousingWire as a 2023 Insiders Award winner.

Related link: https://www.lenderlogix.com/

Northwest Bank Collects Fees within Minutes with LenderLogix FeeChaser

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Northwest Bank has selected its payment processing platform Fee Chaser to ensure compliant collection of upfront fees and deliver borrowers a five-star digital experience.

Fee Chaser integrates with Northwest Bank's loan origination system (LOS) to send a unique link to the borrower within one click. On average, borrowers make a payment within five minutes of receiving the link. Once paid, all parties receive a receipt, and the LOS is automatically updated.

"As a service-oriented bank, we're constantly seeking ways to enhance the value we provide to our customers. Fee Chaser has taken our borrower experience to the next level by helping us extend the five-star service we deliver to our mortgage customers beyond the initial point of contact," said Rocco Diina, Northwest Bank Senior VP and Head of Mortgage Sales. "Thanks to the support from the LenderLogix team, we were able to go live within a matter of weeks."

"Our partnership with Northwest Bank is an example of our commitment to empowering lenders with cutting-edge technology to enhance their operations," said Patrick O'Brien, Co-Founder and CEO of LenderLogix. "It's our firm belief that borrower experience is the key differentiator for lenders. The lenders investing in their tech now in a down market will be the same lenders at the top when the market reverses course."

About LenderLogix
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/.

RELATED LINKS:
https://www.lenderlogix.com/fee-chaser

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Northwest Bank has selected its payment processing platform Fee Chaser to ensure compliant collection of upfront fees and deliver borrowers a five-star digital experience.

Related link: https://www.lenderlogix.com/

LenderLogix Q2 2023 Homebuyer Intelligence Report Data Shows Slight Increase in Homebuying Activity Despite Affordability and Inventory Challenges

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2023.

Pre-Approvals

In Q2 2023, borrowers generated 58,927 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an increase of nearly 11% over Q1. While the average number of borrower logins to QuickQual declined from 12 times in Q1 to 8 times in Q2, loan officers increased their number of pre-approved borrowers by 16% over the period to 28, up from 24 in Q2.

The average pre-approval letter loan amount in Q2 increased by 4% to $302,836 compared to Q1's average loan amount of $292,491. Additionally, the average sales price increased 5% from $334,022 in Q1 to $348,348 in Q2, resulting in an average down payment of roughly 13% versus 12.4% in Q1.

Conventional loans were again the most popular loan type for pre-approved borrowers, with its share remaining virtually unchanged at 71% versus 72% in Q1. Similarly, FHA pre-approval share remained steady at 22% versus 21% in Q1, as did VA (5%) and USDA share (1%).

"Increases in both pre-approval letters generated and average number of pre-approved borrowers per loan officer signal slight improvements in the homebuying market, which is an excellent sign for lenders struggling under recent market conditions," said LenderLogix Co-Founder and CEO Patrick O'Brien. "However, the rise in average sales price, loan amount and down payment indicate that it's only getting more expensive for borrowers to buy so lenders will need to equip themselves with the tools and resources necessary to make homebuying more affordable."

Borrower Conversion

Of the borrowers using QuickQual in Q2 2023, the average number of days between pre-approval and loan submission increased to 89.3 days, compared to 71 days in Q1. The most prolonged duration between pre-approval and application also increased from 622 days in Q1 to 994 days in Q2. The increased length between pre-approval and loan submission did not dissuade borrowers, as conversions from borrowers using QuickQual rose from 56% in Q1 to 58% in Q2, with those borrowers generating an average of 9 pre-approval letters before converting.

"Lack of inventory is certainly one of the main drivers behind the increase in time between when borrowers get pre-approved and when they submit a loan application, which only compounds the challenges facing today's buyers," O'Brien noted. "However, for the loan officers that remain diligent in their outreach to prospects and agents, that effort seemingly pays off. Thus, loan officers should adjust their expectations around the length of today's home search and increase communication during this time to optimize their conversion rate."

Data from the Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

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/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools.

Related link: https://www.lenderlogix.com/