LendingOne.com

Loan origination platform

About the project

LendingOne

LendingOne offers short and longer-term loans to real estate investors and developers, providing them the capital they need to enhance their fix-and-flip rental property portfolios.The firm was founded in 2014 by established serial entrepreneur Bill Green. Today LendingOne lends across 43 states and have thousands of happy clients. There are about one hundred employees who are working each day to learn how to finance real estate investors faster.

Custom Software Development
DevOps
IT Consulting
QA and Testing
Challenge

Challenge

LendingOne need a platform that can help to optimise actions of these users group:

  • LendingOne employees
  • Borrowers
  • Potential brokers
  • Brokers
Solution

Solution & Results

We decide to create to separate applications that will communicate by API.

Solution

CRM

It's the core of LendingOne system. About hundred of LendingOne employees works here every day.

  • Pipelines for monitoring applcaitions states.

We made a lot of different pipelines to help users to monitore situation. There are pipelines for sales team, underwriting team, legal team and etc. All of them are set for concrete team goals to help them to control every step of application processing.

  • Clients base.

LendingOne have a thousands clients. Of course, they should be able to store information about them. We added a few sections in the borrower profile to structure info:

  • Contact info
  • Entity info
  • Experience
  • Documents
  • Asset verification
  • etc
Solution
  • Ability to verify data.
    We added a separate module to allow users to verify data by documents. Special document viewer allows users to revise a document and update data in the system.
  • Quick Pricing.
    Users need to provide only required data to get preliminary quote. They can resolve if they want to start an application or not later. The system won’t require any information about client if he doesn’t want to create application.
  • Buying and selling loans.
    LendongOne need to have ability to control who and when bought their loans. Investors should be understand how many loans he already have and what are conditions of these deals. No problem, we created two separate interfaces to help both sides to control each step of deal.

Borrower UI

LendingOne
  • Creating applications
    We created a few different forms to make process of creating applications easier.
  • Uploading documents
    Borrower gets notification each time when LendingOne team requests documents. He can upload documents and they will be sorted by categories. It’s really helpful for LendingOne employee.
  • Pay fees
    We integrated LOS with PayPal to allow borrower to pay fees in the system.
LendingOne
  • Noting info about third-parties companies info
    Borrower can add contact info for third-party companies.
  • Providing info about their RE experience
    Interest rates depend on the borrower’s experience. This module allows borrowers to store this info.
  • Submitting draw requests
    Borrowers can get compensation for repairs. He just needs to submit a form and upload a few documents.

Commissions

LendingOne

The application monitors employees' productivity and automatically calculates employees' salaries.

  • Creating plans
    Admins can create salary plans for roles or for one concrete employee.
  • Statistics and reports
    The system calculates salaries according to the plans and pulls additional data from CRM for analysis.
Potential Broker UI

Broker UI

  • Each person can fill out the form and submit it to LendingOne experts for review. After this, a candidate will get a personal account in the system.
  • If a LendingOne expert is going to approve a candidate he requests a few documents and sends an agreement to the candidate for signing. We integrated with the RightSignature service to make this process easier.
  • Candidates just need to sign the agreement and upload a few documents to their personal accounts.
Broker UI
  • LendingOne experts can finally approve a candidate with one click.
  • New brokers will get credentials to log in to the broker portal as soon as LendingOne approves them.
  • Clients base

Brokers can store general information about clients and all their applications.

Broker
  • Ability to create applications
    We created comfortable interfaces for submitting and processing applications. They can control third-parties companies' lists, upload documents, pay fees, and more.
  • Applications pipeline
    Helps brokers control applications on any status of processing.
  • Quick Pricing
    Smart service for getting a preliminary quote. This especially helps for consulting clients.

Technologies

  • Ruby on Rails

  • Ruby

  • Redis

  • PostgreSQL 12.x

  • React

  • Sidekiq

Integrations

  • Google
  • Right Signature
  • CreditPlus
  • CloudConvert
  • Mandrill
  • WebMerge
  • Mailchimp
  • Perfect Audit
  • Rollbar
  • Zillow
  • HouseCanary
  • Mercury
  • Trinity
  • FundingShield
  • Dialpad
  • MassiveCert

Team: 18 people

  • 1 UX&UI Specialist
  • 10 Back-end developers
  • 2 Front-end developer
  • 3 QA Engineer
  • 1 Project Manager
  • 1 DevOps
Do you have an idea for a product or solution? Let’s launch it! Let's talk