Lendesk Technologies, a Canadian Rocket affiliate specializing in mortgage fintech, has announced a partnership that will streamline the lending experience for Canadian brokers and lenders. Lendesk’s new partners in this effort are Intellifi, a provider of end-to-end digital lending solutions, and Strive, a Canada Mortgage and Housing Corporation (CMHC) approved residential mortgage lender.
With new technology, mortgage brokers can now digitally submit client documents directly from Lendesk’s digital mortgage platform, Finmo, to partner lenders via Intellifi. This solution aims to simplify the process and provide a faster turnaround time for brokers and their clients. Strive will be Lendesk’s first lender to adopt the new method.
“Finmo has been an industry leader in client document management since the creation of Smart Documents,” said Carter Zimmerman, president of Lendesk. “The addition of this unified and automated document submission to lenders helps brokers securely and efficiently transfer files to the underwriter, adding convenience and streamlining the process while also significantly reducing the potential for fraud.”
Traditionally, Canadian mortgage brokers have not had an efficient way to submit an applicant’s document to lenders, relying on manually collecting the paperwork and sending via unencrypted email. This collaboration will offer brokers a submission process designed to be both quicker and safer.
“At Intellifi, we constantly innovate and invest in our platform to match the ever-changing digital lending landscape,” said Derek Cook, vice president and managing director of Residential Technology at Intellifi. “This is yet another example of working closely with our partners to help identify and create next-generation digital solutions that enhance the client and underwriter experience.”
Lendesk’s network of lenders now has access to automated document categorization. Through this technology, lenders can identify the individual who uploaded the document file, eliminating the need to manually process and identify the source of submissions. Lendesk believes that this well help to speed up funding approval.
“Since inception, Strive has been committed to creating solutions aimed at simplifying the mortgage process for brokers and customers,” said Marty Frenette, president & CEO of Strive. “Not only do these solutions enhance the end experience, they also provide significant efficiency benefits for us as a lender. Our collaboration with Lendesk and Intellifi on direct document submission is based on a mutual commitment to this mission.”
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