Listen to this articleStreamLoan’s vision is to allow a user to easily complete the entire home purchase transaction digitally. Below is our recent interview with Stephen Bufler, CEO at StreamLoan:
Q: Could you provide our readers with a brief introduction to StreamLoan?
A: Buying a home is unnecessarily slow and complex. We’re taking the friction out of the process to make it a pleasure. We do this through a white-label digital mortgage lending platform that includes both native mobile apps and responsive web applications, to allow users to interact with the solution however and wherever they like.
A lot of the friction in the process is in the gathering of the right documents. We eliminate this by allowing the borrower to digitally link their accounts to their secure StreamLoan account, and giving them the power to share or restrict access to this information with any party to the transaction: lender, title company, realtor, or co-borrower.
For the lender, StreamLoan provides digital workflow tools that speed the time it takes them to review and process the required financial information. It integrates directly into existing lender systems. It also allows real-time communications with the other professionals involved in the transaction so everyone knows when something is required of them to keep the process moving.
Another thing that’s frustrating for borrowers is a lack of transparency. It’s funny to compare pizzas to mortgage lending, but Dominos Pizza has an app that tells you who’s doing what: “Shawn P. is making your pizza, now it’s in the oven.” With StreamLoan, the borrower gets real time updates on where in the process their loan is.
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Q: You’ve recently secured a $2 Million seed capital round of funding, congrats. Anything else you would like our readers to know about?
A: Thank you. It’s a great moment in the company’s history.
One thing that makes StreamLoan unique is that it is built from the ground up with an enterprise grade policy management system. This means only people who need to see particular information can see it, and that can be customized for each user and can be changed in real-time.
And that’s what borrowers are looking for as well. They want their personal data to be secure and only available to those who need to see it. And they’re in the driver’s seat: they get to decide who sees what.
And we’re helping lenders grow their business by digitizing leads and referrals.
Q: Could you explain the most prominent advantages of StreamLoan?
A: StreamLoan is a mobile first highly configurable workflow solution for the mortgage lending industry. We know that not every lender manufactures loans the same way, so we have designed our system to seamlessly integrate into the individual process of each client. We also realized early on that applying for a mortgage isn’t enough – so we build productivity tools for lending and real estate professionals to facilitate the home purchase process before the borrower engages with a lender (e.g. shopping with a real estate agent), and we provide tools to the lender to allow them to move faster and deliver more productivity in their firms.
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Q: What are your plans for next six months?
A: To continue to innovate and build technology to further automate the mortgage process – capabilities for borrowers, lenders, and real estate agents. We will continue to expand our client and partner footprints.
StreamLoan will continue to drive innovation and re-imagine the home purchase experience.
Q: What geographic markets are you focusing on currently?
A: US mortgage lending market.
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