Lendsnap

Lendsnap aimed to streamline the mortgage process by providing lenders with direct access to borrower financial data. Recognizing that lenders spend considerable time and resources gathering documentation, Lendsnap sought to automate this process by connecting to consumer financial accounts. This approach was intended to improve loan origination productivity, reduce application times for borrowers, and ensure the liquidity of lender portfolios in the secondary market.

By focusing on obtaining original electronic documents and data sets, Lendsnap positioned itself as a solution for originating various types of loans, including non-agency loans. The platform also aimed to serve mortgage brokers, offering them flexibility in meeting the diverse credit needs of their clients. Lendsnap differentiated itself by delivering electronic statements directly from financial institutions, such as Bank of America and Chase.