Lendesk Technologies Ltd. has introduced the Lendesk Lender Network, a direct-to-lender mortgage application network with some of the top mortgage lending institutions, including Scotia Mortgage Authority (Scotiabank), First National Financial, CMLS Financial, Equitable Bank, and Paradigm Quest (Merix, NPX, Lendwise, and more), the company announced in a release.
Through Lendesk’s proprietary technology platform, licensed mortgage broker firms and agents can securely pull credit from Equifax and TransUnion and, through the Lender Network, automatically submit qualified mortgage applications directly to participating lenders.
“Connecting the broker to the lender is at the heart of the origination process, and by working directly with our lender partners we’ve built our Lender Network to be a strong foundation for the rest of our current and forthcoming products,” Lendesk CEO Alex Conconi said in the release. “For example, with CMLS, brokers who use Lendesk’s document collection features can submit those documents directly to CMLS underwriters from within the system.
“When paired with Lendesk’s direct-from-source Verification of Assets functionality, and other direct-from-source integrations, Lendesk makes it very easy for brokers to streamline their internal processes, and focus on their borrowers’ experience,” Conconi added.
The announcement of Lendesk’s Lender Network is a testament to the organization’s insight, investment and dedication to modernizing the Canadian mortgage industry, the company said.
“CMLS is committed to the broker channel and to engaging with its broker partners in ways that enhance the flow of communication, data and documents,” Dan Putnam, SVP Business Development, CMLS Financial, said. “The Lendesk Lender Network launch should help enhance all of the above."
Additional lenders are scheduled for a forthcoming announcement.
“Lendesk is an important partner as we work together in bringing innovative solutions to market. I am excited to see the launch of their new point-of-sale system,” Yassir Jiwan, Digital Innovations Lead, Equifax said.