Lendsnap YC-Bewerbung

Summer 2016Inactive

Lendsnap durchlief Y Combinator im Summer 2016-Batch als ein Fintech-Unternehmen. Unten: Was das Unternehmen tut, wer es gegründet hat und seine Bewerbung bei YC, Frage für Frage im echten YC-Formular rekonstruiert.

YC-Batch: Summer 2016
Branche: FintechBanking and Exchange
Status: Inactive
Gestartet: 2016

Gründer

Orion ParrottFounder/Founding CEO
Mike RomanoFounder/| Vice President of Business Development

Was Lendsnap tut

The Digital Mortgage Company Lenders will write $1.5T of home mortgages in 2017, and will have to evaluate every single borrower's ability to repay. This is expected to cost the industry $15B in human labor. We talked to these humans, and learned that they spend 1/3 of their time just asking other humans for documents and data that are almost universally available online. While the market is slowly moving to transactional data, Lendsnap is the only company helping lenders get ahead of the competition by delivering original electronic documents and data sets. That means portfolios of our lender customers stay completely liquid in the secondary market. No one else can offer that today. Lendsnap instantly gathers the original borrower documents and data for lenders by linking to consumer financial accounts. We increase loan origination team productivity by 25%+ and save applicants several hours on each application as well. Our intuitive and easy-to-use workflow makes it easy and safe for borrowers to turn in and for loan officers to receive the necessary documents for lenders to make a credit decision. As the only company delivering the right documents and data to originate non-agency loans such as VA, FHA, and subprime, we are able to work with all types of lenders. Furthermore, we are uniquely suited to serve mortgage brokers (12% market share) who have to remain flexible to the credit needs of their diverse borrowers. We are the only post-launch company that delivers actual electronic statements straight from source institutions, such as Bank of America, TurboTax, Chase, and hundreds more.

Lendsnaps YC-Bewerbung, rekonstruiert

Y Combinator Bewerbung

Lendsnap, Summer 2016 Batch. Die echten Fragen des Antrags, beantwortet aus öffentlichen Daten.

Founders2
Company7
Progress7
Idea4
Equity3
Curious2
Batch Preference1

Company

Company name

Lendsnap

Describe what your company does in 50 characters or less.

The Digital Mortgage Company

What is your company going to make? Please describe your product and what it does or will do.

We build a platform that directly connects lenders to original borrower documents and financial data by linking to consumer financial accounts. Our product lets loan officers quickly and securely collect necessary information without chasing paper, saving time and increasing productivity. This is tailored for mortgage brokers and non-agency lenders who need actual electronic statements from source institutions like Bank of America and TurboTax.

Where do you live now, and where would the company be based after YC?

We live in Berkeley, CA and plan to keep the company here after YC.

Explain your decision regarding location.

We are based in Berkeley because it gives us access to technical talent and proximity to the Bay Area fintech ecosystem, which helps us understand and serve mortgage lenders better.

21 weitere Antworten in der vollständigen Bewerbung

Founders, Progress, Idea, Equity, Curious, Batch Preference sind in der Vollversion. Erstelle ein kostenloses Konto, um es in YC Insights neben jedem anderen YC-Batch zu öffnen.

Vollständige Bewerbung anzeigen

Häufig gestellte Fragen

Ist das die echte YC-Bewerbung von Lendsnap?

Nein. Y Combinator hält eingereichte Bewerbungen privat. Dies ist eine Rekonstruktion: die echten Fragen des YC-Formulars, beantwortet aus den öffentlichen Daten von Lendsnap (Veröffentlichungsnotizen, Gründerhintergründe, Produktbeschreibung). Sie zeigt, wie sich ein Unternehmen wie Lendsnap bei YC präsentieren würde, nicht den Text, den sie eingereicht haben.

In welchem YC-Batch war Lendsnap?

Lendsnap war Teil des Y Combinator Summer 2016-Batches.

Wer hat Lendsnap gegründet?

Lendsnap wurde von Orion Parrott, Mike Romano gegründet.

Was macht Lendsnap?

The Digital Mortgage Company.

Wie lese ich die vollständige, rekonstruierte Bewerbung?

Erstelle ein kostenloses Round Funded Konto. Die vollständige 26-Antwort-Version der Bewerbung von Lendsnap, und jede andere YC-Kohorte, findest du in YC Insights.