Aplicación YC de Lendsnap

Summer 2016Inactive

Lendsnap pasó por Y Combinator en el batch Summer 2016 como una empresa de Fintech. Abajo: qué hace la empresa, quién la fundó y su aplicación a YC, reconstruida pregunta por pregunta en el formulario real de YC.

Batch YC: Summer 2016
Industria: FintechBanking and Exchange
Estado: Inactive
Lanzado: 2016

Fundadores

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

Lo que hace Lendsnap

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.

Aplicación YC de Lendsnap, reconstruida

Solicitud de Y Combinator

Lendsnap, batch Summer 2016. Las preguntas reales del formulario, respondidas con datos públicos.

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 respuestas más en la aplicación completa

están en la versión completa. Crea una cuenta gratuita para abrirla en YC Insights, junto a cada otro batch de YC.

Ver aplicación completa

Preguntas Frecuentes

¿Es esta la aplicación YC real de Lendsnap?

No. Y Combinator mantiene privadas las aplicaciones enviadas. Esta es una reconstrucción: las preguntas reales del formulario de YC, respondidas a partir de los datos públicos de Lendsnap (notas de lanzamiento, antecedentes de fundadores, descripción del producto). Muestra cómo una empresa como Lendsnap se presentaría a YC, no el texto que enviaron.

¿En qué batch de YC estuvo Lendsnap?

Lendsnap formó parte del batch Summer 2016 de Y Combinator.

¿Quién fundó Lendsnap?

Lendsnap fue fundado por Orion Parrott, Mike Romano.

¿A qué se dedica Lendsnap?

The Digital Mortgage Company.

¿Cómo leo la aplicación completa reconstruida?

Crea una cuenta gratuita de Round Funded. La versión completa de 26 respuestas de la aplicación de Lendsnap, y de cada otro batch de YC, está en YC Insights.