If you were ever involved in a process of buying real estate which required a mortgage, you know just how tedious and slow all the mortgage situation gets. It involves a lot of paperwork and bureaucracy, in addition to all the time it consumes and the money it requires from the mortgage lenders.
Luckily, there is now a company working to bring this process to the 21st century, adapting current technological capabilities to it – meet StreamLoan. This company is showing some good promise, so much that it just recently secured a $2 million investment, coming from investors that include Acorn Pacific Ventures and Whitespace Capital.
This fintech service brings simplicity and efficiency to the entire loan process, doing so by bringing this outdated process into the digital world. StreamLoan connects with many of the largest banks, wealth management firms, insurance companies, payroll processors, tax providers, and other financial agencies – over 15,000 in total.
StreamLoan puts an important focus on mobility, thanks to the creation of a native mobile platform, at the moment available only for iOS but with support of more platforms coming soon. Inside StreamLoan's platform, lenders can put together all the documentation, and also communicate with lenders. All of this done in total security, thanks to AES-256 bit encryption being enforced at all times.
Steve Weston, former CEO of Barclays Mortgage Bank and a co-investor in this round, shared his thoughts on StreamLoan's platform:
"The first thing that caught my attention was the sophistication of the StreamLoan platform and the amazing capability it brought to lenders," said Steve Weston, former CEO of Barclays Mortgage Bank. "But what made me really excited about investing was how the company brought together Silicon Valley's best innovation with the deepest possible insider knowledge of the mortgage and real estate industries to deliver a more complete solution, more efficiently, than many rivals."
In a great part thanks to the StreamLoan's founders' deep experience in lending, real estate investing, data security and systems integration, this platform promises to bring a true revolution to the world of mortgages and lending, and this investment can surely be an important driving force working towards that goal.
