Company
BrokerPro Software was developed
and sold by
LendingApps LLC
6355 Topanga Canyon Blvd., Ste 301
woodland hills, ca 91367
888.737.9977 main
ext. 7031 sales
ext. 7051 underwriting & training support
ext. 7059 software & technical support
The quote to the right is from BrokerPro Lender Chris Lewis, Vice President of Commercial Loans for Wells Fargo, whose sentiments are shared by most commercial lenders throughout the country, including the creators of BrokerPro Software™.
The uniform reporting format for commercial mortgage loans is not widely know by residential mortgage brokers, but it is used by most commercial lenders and brokers throughout the country. One of the creators of BrokerPro was at JP Morgan in New York working as the Vice President of Commercial Mortgage Underwriting, wanted to make the commercial reporting format available to anyone brokering a commercial mortgage loan, just as the residential industry did for residential loans with Calyx Point, Fannie Mae DO, Freddie LP, and Ellie Mae Encompass.
The creators of BrokerPro sought to take commercial loan automation a step further, by integrating all of the top commercial lending institutions into a single software platform, employing automated underwriting. In April 2001, LendingApps LLC was started by a management and software team from investor FortuneLab. Shortly after, the first versions of BrokerPro Software™ and LenderPro Software™ were released.
Wells Fargo, ARCS and other top commercial lenders in the country were the first to integrate LenderPro into their commercial loan origination platform. After receiving his first loans from BrokerPro users, Chris Lewis of Wells Fargo to said, "BrokerPro Software is very good program which accurately summarize the information needed to make an informed decision. As a result, we can respond very quickly and provide a 'bankable' quote with minimal contingencies."
With the success of LenderPro and BrokerPro, more lenders wanted to start receiving loans from BrokerPro customers, prompting the creation of an online version of LenderPro called Lender PIPELINE™. Today, 100 wholesale lending institutions use Lender PIPELINE or LenderPro Software to connect to over 4,000 BrokerPro Software customers throughout the country for their commercial mortgage originations. Each year, $20 billion in loan volume passes between BrokerPro users to BrokerPro Lenders.