Strategic alliance aims to dramatically enhance the pricing and eligibility process for private money loan programs
MIAMI, FLA., USA, October 19, 2022 /EINPresswire.com/ -- LoanPASS, a rapidly growing fintech provider focused on next-generation decisioning automation for all types of lending entities and loan products, and LendingWise, a purely web-based, all-in-one CRM, LOS, servicing and marketplace platform that is widely leveraged by commercial and private money lenders and originators of all sizes, jointly announced a strategic partnership that delivers a robust product and pricing engine (PPE) embedded within a comprehensive loan origination system (LOS) that caters to commercial and private lenders.
The new interface marries the power of two distinct technology functions that are paramount to the success of private money lenders. LoanPASS developed a highly configurable, industry-agnostic decisioning engine for use by all types of lending entities. It returns instant, accurate results on any type of loan product. The low-cost PPE solution resides behind-the-scenes and is accessible by users working within the LendingWise LOS workflow onto the formal underwriting process and funding stage.
“We are very excited to partner with the phenomenal team at LendingWise that developed a feature-rich, all-inclusive cloud-based LOS from the ground up for the private money lending space,” stated Mike Lewis,” president of LoanPASS. “The synergies between our two companies will deliver newfound value to end-users operating within the LOS and brokers working directly with borrowers. Upon seeing the new capabilities, it’s a no-brainer to begin harnessing the integration.”
LendingWise’s comprehensive cloud-based platform gives users product options that are pre-configured for bridge, fix & flip, construction, rental, portfolio, agency/conventional, SBA, MCA, equipment, and also proprietary loan programs. LoanPASS’ user-friendly interface takes product and pricing management a huge step further by empowering non-technical users with the unique ability to easily add new private loan products as well as publish live changes to existing product and pricing eligibility adjustments.
In order to optimize the display of LoanPASS’ decisioning capability on commercial and private money lenders’ customer-facing websites or portals, the integration leverages iFrame technology to extend a customized presentation of their specific products, pricing and eligibility fields. This takes white-labeling to a much easier and inexpensive level while maintaining the lender’s own branding and unique customer experience. LoanPASS also offers contemporary APIs that third-party providers can utilize to seamlessly integrate with its decisioning engine free of charge.
“Our alliance with LoanPASS is poised to make the rollout of new private money lending products much easier for clients, along with making changes to existing programs,” said Chris Fuelling, CEO of LendingWise. “Using LoanPASS’ business-side control tools in conjunction with LendingWise’s turnkey all-in-one platform, lenders can now immediately publish product and pricing updates to their brokers the way it should be in this volatile market --- at the speed of doing business.”
Both LendingWise and LoanPASS apply the latest software development techniques and languages, deliver their solutions on a software-as-a-service basis (SaaS) basis, and reside securely in the cloud. The two fintech providers each reside in Miami, Fla. and were founded in 2017 and 2019, respectively.
About LoanPASS:
Founded in 2019 and headquartered in Miami, Fla., LoanPASS is led by seasoned industry veterans with decades of experience. The company's flagship product, LoanPASS, is a modern data-driven product decisioning and pricing engine that is elegantly designed and easy-to-use. A SaaS-based solution that resides in the cloud, its open modern APIs allow seamless integrations with leading CRM, POS and LOS providers, allowing for easy and cost-effective system-to-system connectivity. The LoanPASS solution empowers mortgage investors, independent mortgage bankers, banks, credit unions and private lenders with unparalleled control over loan product, pricing, stipulations and underwriting decision output. LoanPASS is unique among fintech solutions, as it is the only platform able to handle any lending product — from the most complex mortgage to consumer, personal, business, and commercial loans — making it an ideal solution to streamline lending processes within different vertical markets. In 2022, LoanPASS was recognized as one of Miami's fastest-growing fintechs. To learn more, visit the company’s website at www.LoanPASS.io or call 561-254-5971.
About LendingWise:
Founded in 2017 and based in Miami, Fla., LendingWise is a completely web-based, all-in-one CRM, LOS, servicing and marketplace platform used by lenders and originators of all sizes. At the core of the platform is a point-of-sale system that is turnkey and configurable to almost any loan product. LendingWise makes it easy to intake a custom loan application and automate the collection of required docs and workflow steps. Transferring or sharing a loan file via the deal room will speed up loan closings or post-closing investor sales. Fintech innovation runs deep in their DNA as they continually evolve the platform based on an ever-shifting lending landscape. LendingWise’s clients’ needs and pain points drive them to constantly improve the user experience, reduce transaction costs, and closing time. For more information, visit the company’s website www.lendingwise.com.