We’re thrilled to announce the newest addition to the Lendesk family, LenderSpotlight; the industry-leading mortgage rate and policy search tool. The acquisition is a meaningful one, not only for our team but for our growing network of mortgage brokers as we amplify our service and enable greater efficiencies in their day-to-day tasks and business practices.
Founded in 2014, Lendesk was born out of a deep frustration at the pace of innovation in the mortgage industry. Through Lendesk, we worked to build the modern digital tool the industry deserved by transforming the underwriting, CRM and document management processes as well as vastly improving the broker-applicant relationship. Put simply, the industry needed a revolution.
In the fall of 2018, we launched our Lender Network – a direct-to-lender mortgage application network aimed at connecting our brokers with some of Canada’s largest mortgage lending institutions. In January 2019, we reached another turning point in the Lendesk story, with the announcement of our partnership with Quicken Loans – the largest mortgage lender in the United States.
The transformative potential of today’s LenderSpotlight announcement is no different. Bundled into one easy-to-use platform, LenderSpotlight makes searching for and viewing mortgage policies more structured and robust for Canada’s brokers. Tracking products and rates of over 55 mortgage lenders – from banks to credit unions to alternate solutions – the platform provides brokers with easy access and insight into a wide selection of mortgage products and rates that are updated to the minute.
With the addition of LenderSpotlight to the Lendesk ecosystem, LenderSpotlight will get even better. By integrating LenderSpotlight into the Lendesk Point of Sale system, brokers will be able to receive even more tailored product recommendations based on the entire client application, not just a few search parameters. Moreover, our team is already talking to users and thinking about ways to improve and further expand the features of LenderSpotlight with exciting new offerings. In the meantime, brokers will be able to continue using the product they’ve come to love, without disruption.
The enhanced technology and access to an ever-growing portfolio of mortgage resources that LenderSpotlight offers will empower brokers across Canada with the ability to match applicants with the rates and products that are best suited to them and their financial needs at the current moment. We couldn’t be more excited to see what the future brings through this expansion of our services and how, together, we can continue to improve the Canadian mortgage industry.
Thank you for being a part of our journey. No doubt, there’ll be more on this to come.