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Associated Press
06-05-2025
- Business
- Associated Press
LenderLogix Q1 2025 Homebuyer Intelligence Report Shows Early 2025 Mortgage Market Momentum, Stronger Loan Engagement
BUFFALO, N.Y., May 6, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix , a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the first quarter (Q1) of 2025. Pre-Approvals In Q1 2025, borrowers generated 37.8% more pre-approval letters through LenderLogix's QuickQual pre-approval platform over Q4 2024. The average number of pre-approved borrowers per loan officer increased from 23 in Q4 2024 to 26.5 in Q1 2025. The average pre-approval letter loan amount slightly increased from $322,532 in Q4 to $326,714 in Q1. The average sales price also increased from $376,436 to $381,820. The average down payment size shows a marginal increase from 14.3% in Q4 to 14.4%. Conventional loans remained the most popular loan type for pre-approved borrowers in Q1, though decreased marginally from 74.3% to 74.2% below the prior quarter. FHA pre-approvals decreased marginally from 19.1% to 19%. VA (4.5%) and USDA (1%) maintained their share from Q4 to Q1 2025. 'We're seeing strong early-season activity from homebuyers, which suggests renewed optimism despite ongoing affordability concerns,' said LenderLogix Co-Founder and CEO Patrick O'Brien. 'Borrowers are entering the market with intent, and their use of digital pre-approval tools reflects a growing emphasis on speed and preparation in today's competitive environment.' Borrower Conversion Of the borrowers using QuickQual in Q4 2024, the average number of days between pre-approval and loan submission decreased from 91 to 79.6 days in Q1. The most prolonged duration between pre-approval and application increased by fifty-nine days from 650 in Q4 to 709 in Q1. The conversion rate among borrowers from pre-approval to loan application increased slightly from 54% to 55% in Q1. Borrowers maintained an average of eight pre-approval letters before converting. In total, new applications through the LiteSpeed point-of-sale (POS) platform increased 54% from Q4 2024 to Q1 2025. 'Borrowers are clearly staying engaged throughout the early stages of the homebuying journey,' said O'Brien. 'We're seeing signs of increased urgency and lender responsiveness, both of which point to a more active purchase market and continued adaptation to borrower expectations.' Post-Application Engagement In Q1 2025, the number of documents uploaded through LiteSpeed grew 48% quarter-over-quarter. The number of newly created needs lists, including both online applications and those entered by loan officers, rose 37% in Q1. Successful verification of income and employment (VOIE) through POS improved significantly, increasing from 6.5% in Q4 to 15.5% in Q1. Verification of assets (VOA) also rose, climbing from 33.1% to 36.7% over the same period. 'This quarter's data points to meaningful improvements in post-application engagement,' O'Brien added. 'Increases in document uploads, Needs List creation, and verification success rates all contribute to stronger loan files, faster underwriting decisions, and deeper borrower engagement. These trends reflect how the right tools can streamline workflows while also improving loan quality and borrower experience.' Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit . About LenderLogix LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit NEWS SOURCE: LenderLogix ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for LenderLogix (404) 549-9282 [email protected] ### Keywords: Mortgage, Homebuyer Intelligence Report, LenderLogix, 2025 Mortgage Market Momentum, BUFFALO, N.Y. This press release was issued on behalf of the news source (LenderLogix) who is solely responsibile for its accuracy, by Send2Press® Newswire . Information is believed accurate but not guaranteed. Story ID: S2P125984 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
Associated Press
29-04-2025
- Business
- Associated Press
Victorian Finance Switches to LiteSpeed by LenderLogix for Point-of-Sale
- LiteSpeed provides digital-first, mobile-friendly capabilities, enhancing borrower experiences - BUFFALO, N.Y., April 29, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced that Victorian Finance, an independent mortgage lending company, has implemented LiteSpeed™ to replace its legacy point-of-sale (POS) system. Victorian Finance will use LiteSpeed to provide borrowers with an automated, digital-first mortgage experience. Image caption: LenderLogix. > 'With LiteSpeed, we're well-positioned to meet the evolving needs of our borrowers by leveraging features and functionality that weren't previously available to us,' said Victorian Finance President Sonny Bringol. 'Its advanced capabilities allow us to streamline processes, enhance efficiency, and improve the borrower experience in ways that weren't possible before. With LiteSpeed, we can scale more effectively and deliver faster, smoother loans.' LiteSpeed allows loan officers (LOs) to provide personalized application links with customized document checklists, simplifying lending processes for both borrowers and LOs. Borrowers can upload files through a user-friendly interface. Files are automatically integrated into Encompass®, saving LOs significant time by eliminating manual handling. LiteSpeed accelerates loan approvals and enhances efficiency for all parties involved by automating repetitive tasks and reducing processing delays. The platform is fully customizable to align with an institution's branding, mobile-friendly and SOC 2 compliant. 'LiteSpeed is designed to help lenders simplify their workflows and connect with borrowers more effectively,' said LenderLogix Co-Founder and CEO Patrick O'Brien. 'We're committed to equipping our clients with tools that drive efficiency while delivering an experience borrowers expect in today's digital-first environment.' Visit to request a demo. About LenderLogix LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit NEWS SOURCE: LenderLogix ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for LenderLogix (404) 549-9282 [email protected] ### Keywords: Mortgage, LenderLogix, mortgage origination and real estate, fintech, automation software for banks, credit unions, independent mortgage banks, BUFFALO, N.Y. This press release was issued on behalf of the news source (LenderLogix) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P125795 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
Associated Press
15-04-2025
- Business
- Associated Press
Tidewater Mortgage Services Replaces Legacy POS with LiteSpeed from LenderLogix
- LiteSpeed optimizes digital application processes and enhances the borrower experience - BUFFALO, N.Y., April 15, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Tidewater Mortgage Services (Tidewater), a retail mortgage lending company, has replaced its legacy point-of-sale (POS) technology with LiteSpeed, thus expanding its partnership with the company. In addition to Fee Chaser™, Tidewater will now use LiteSpeed as the point-of-sale to automate mortgage processes and provide borrowers with a digital-first experience. 'We needed a POS platform that offered a more intuitive, borrower-friendly application process and greater automation than our previous platform,' said Tidewater VP of Project Management, Mike Martin. 'LiteSpeed delivers on those needs, allowing us to streamline workflows, reduce friction for borrowers and ultimately close loans more efficiently. Our experience with Fee Chaser had already demonstrated LenderLogix's reliability and efficiency, so expanding our partnership with LiteSpeed was the clear next step.' LiteSpeed is designed to simplify the lending process for both borrowers and lenders. With its AI-driven capabilities, the platform enables loan officers to provide personalized application links that generate customized document checklists, streamlining submissions. Borrowers benefit from a user-friendly interface for uploading files, which are automatically integrated into Encompass®, eliminating time-consuming manual handling. Fully customizable to match an institution's branding, LiteSpeed is mobile-friendly and adheres to rigorous security standards, including SOC 2 compliance. By automating repetitive tasks and reducing processing delays, the platform not only accelerates loan approvals but also delivers a smoother, more efficient experience for borrowers and lenders alike. 'LiteSpeed delivers a seamless mobile experience that provides a competitive advantage for lenders trying to get ahead in a market where consumers demand convenience,' said LenderLogix Co-Founder and CEO Patrick O'Brien. 'By supporting and enhancing early customer engagement, we're empowering our customers to deliver exceptional borrower experiences at a cost-efficient price.' Visit to request a demo. About LenderLogix LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit NEWS SOURCE: LenderLogix ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for LenderLogix (404) 549-9282 [email protected] ### Keywords: Mortgage, LenderLogix, mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, BUFFALO, N.Y. This press release was issued on behalf of the news source (LenderLogix) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P125506 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
