Florida and Georgia can Now Close Mortgage Loans 3.5x Faster than Traditional Loans, Thanks to Lenda's Latest Expansion

SAN FRANCISCO, Feb. 28, 2018 /PRNewswire/ -- Lenda, a leading online mortgage lender, today announced that its services are now available in Florida and Georgia. This announcement follows news of Lenda's recent expansion into Illinois, Pennsylvania, Michigan and Arizona. Through its recent expansions, the company will now serve customers in 65% of the digital mortgage market.

"We've significantly cut down the time it takes to get a home loan or refinance. It can be a lengthy process, and we're able to help save homeowners' time, money and the occasional headache in receiving a home loan," said Jason van den Brand, Co-Founder and CEO, Lenda. "We've now expanded into six new markets this year and we're excited to deliver our platform to even more customers so they can have their loans locked and funded faster than ever before." Other markets in which Lenda is available include California, Oregon, Washington, Colorado and Texas.

Powered by proprietary technology that evaluates loan applications quickly, Lenda closes loans nearly 3.5 times faster than the industry average. Loans through Lenda can be completed in as few as 17 days as opposed to the industry standard, which is typically a two month close time. Lenda's digital loan officer model enables the company to save on costs tied to the traditional loan officer model, passing the savings directly on to the customer - approximately $409 a month in loan repayments. Collectively, Lenda's customers have saved over $750,000 in fees and over $5M in interest over the lives of their loans.

Earlier this year, Lenda closed a $5.25M Series A financing led by SF Capital Group, with additional investors including CreditEase Fintech Investment Fund and inside investor, Rubicon Venture Capital. The funding was allocated towards driving continued growth, filling key management positions and increasing investment in the company's innovative software platform.

For more information on Lenda, please visit www.lenda.com.

About Lenda
Lenda is an innovative platform that allows homeowners to complete their home loans online from start to finish quickly, efficiently and securely. Through a savvy combination of being a direct lender with proprietary technology, the company has streamlined the mortgage application process, saving customers time and money. Visit Lenda.com for details.        

SOURCE Lenda

Related Links

http://www.lenda.com