MCLEAN, Va., Dec. 23, 2019 /PRNewswire/ -- Habitat for Humanity Tucson, a non-profit that works to transform lives through shelter, has announced that it will be using WEI Technology's LendingPad Loan Origination System (LOS) for its future mortgage operations. The non-profit has praised LOS's versatility, simplicity, and ease of administration in handling custom loan programs.
Habitat for Humanity Tucson provides affordable housing to low income families through affordable mortgage plans. The organization also participates in other extensive endeavors aimed at improving the quality of life for all through safe and decent housing. The charity aims to leverage the agility of the LendingPad Loan Origination system to streamline its mortgage processes and customer experience. The loan solution simplifies loan origination process, from information analysis to credit vetting, documentation, and approval.
"We are pleased to play a part in Habitat for Humanity Tucson's mission of providing homeownership to under-served communities," said Wes Yuan, LendingPad's Managing Director. "Our solution is agile and reflects an enterprise origination platform that is responsive to the institution's needs through automation, customization, dynamic features, and large number of third-party integrations."
LOS's solve the lending inefficiencies that can be a significant stumbling block in the homeownership process. Data by the American Bankers Association shows that only 7% of lenders have fully automated mortgage processes. The result is a lengthy loan processing period and unhappy borrowers.
LendingPad LOS is designed by the industry's top mortgage professionals to accelerate the lending process. It is a reliable tool for bankers seeking a competitive advantage in the fast-paced market. For institutions and non-profits such as Habitat for Humanity Tucson, it could facilitate speedy access to better housing for borrowers.
"Adding the LOS functionality to our mortgage services is part of our broader strategy to help borrowers achieve their home-ownership goals faster," said Tina Hoffmann, Habitat for Humanity Tucson's Director of Homeowner Services. "It's a win-win for the community and our organization."
About LendingPad / WEI Technology LLC
WEI Technology LLC provides a complete suite of loan origination solutions for banks, brokers, and institutions via its LendingPad product line. LendingPad is designed to streamline operations, strengthen communication, and reduce costs in mortgage lending. The cloud-based solutions include end-to-end features such as point-of-sale, document management and loan fulfillment. LendingPad is a winner of HousingWire's Tech100 award and one of the Top 10 Mortgage Solution Providers by Banking CIO magazine. The platform is endorsed by the National Association of Mortgage Brokers (NAMB) and a premier member of the Mortgage Bankers Association. Visit lendingpad.com
About Habitat for Humanity Tucson
Habitat for Humanity Tucson offers an innovative solution to the crisis of affordable housing by giving a hand up, not a hand out. Habitat accomplishes this mission by building and repairing homes in partnership with the community and local families. Habitat for Humanity values inclusiveness and win/win partnerships, respect for the dignity of each person, and a commitment to deliver a strong return on the community's investment in their work. To learn more and donate, visit HabitatTucson.org.
SOURCE WEI Technology LLC / LendingPad
LendingPad Corp was founded in 2015 with the objective of providing effective technology solutions that span the entire mortgage lending process, to strengthen communication and ultimately, to lower total cost of mortgage lending.