Application YC di Lendsnap

Summer 2016Inactive

Lendsnap ha partecipato a Y Combinator nel batch Summer 2016 come azienda Fintech. Sotto: cosa fa l'azienda, chi l'ha fondata e la sua application a YC, ricostruita domanda per domanda nel form reale di YC.

Batch YC: Summer 2016
Settore: FintechBanking and Exchange
Stato: Inactive
Lanciata: 2016

Founder

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

Cosa fa 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.

Application YC di Lendsnap, ricostruita

Domanda per Y Combinator

Lendsnap, batch Summer 2016. Le vere domande del form, risposte da dati pubblici.

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 risposte in più nell'application completa

Founders, Progress, Idea, Equity, Curious, Batch Preference sono nella versione completa. Crea un account gratuito per aprirla in YC Insights, accanto a ogni altro batch YC.

Vedi domanda completa

Domande Frequenti

Questa è l'application YC reale di Lendsnap?

No. Y Combinator mantiene private le application inviate. Questa è una ricostruzione: le domande del form YC reale, a cui si è risposto usando i dati pubblici di Lendsnap (note di lancio, background dei founder, descrizione del prodotto). Mostra come un'azienda come Lendsnap si presenterebbe a YC, non il testo che hanno inviato.