Lender-paid mortgage originator Sindeo is getting into the digital mortgage game with the launch of SindeoOne, an app that promises to help borrowers apply for a mortgage in just five minutes.
A step toward fulfilling Sindeo’s mission of offering consumers a “modern mortgage marketplace,” the launch of SindeoOne joins the likes of Quicken Loan’s Rocket Mortgage app, which aims to get consumers approved for a mortgage loan in less than 10 minutes.
Since 2013, Sindeo has been preparing and submitting loan applications to its network of more than 40 lenders, offering more than 1,000 loan programs. Now, users can submit their mortgage applications with any phone, tablet or desktop computer.
Within minutes, SindeoOne generates a personalized comparison of different loan programs and types to help borrowers select the loan type, term and rate that best suits their needs.
From there, users can access Sindeo’s proprietary trio of mortgage experts — a mortgage advisor, a mortgage specialist and a mortgage coordinator — to assist them with the homebuying process.
These advisors use Sindeo’s back-end platform to adapt their workflow to meet the needs of each individual client’s loan, improving the efficiency and accuracy of the loan process.
A video demonstration of SindeoOne can be viewed here.
https://www.sindeo.com/sindeos-fully-automated-mobile-mortgage-application/
“We’re removing the anxiety and hassle associated with getting a mortgage,” said Sindeo’s co-founder and CEO, Nick Stamos. “By combining technology with a new service model, we’re creating happier, more educated borrowers.”
Stamos said Sindeo’s satisfaction scores are three times higher than industry averages, and the company has saved borrowers an estimated $17 million “by getting them a better mortgage.”
But SindeoOne also has time-saving benefits for real estate agents, as the app generates a full loan application, pulls a consumer’s credit report, automates underwriting and generates a loan-approval letter for agents within that same five-minute timeframe.
Janelle Boyenga, co-owner of Boyenga Keller Williams Silicon Valley Real Estate in Silicon Valley, praised Sindeo for “truly revolutionizing the home financing experience for homebuyers.”
“They have taken what has historically been a stressful and confusing process and made it intuitive and easy,” Boyenga said. “I am impressed with Sindeo’s innovative approach to guiding homebuyers through the mortgage application process, making it simpler and more efficient.”
Based in the Bay Area, Sindeo is currently available for residential home loans in Arizona, California, Colorado, Florida, Oregon, Tennessee, Texas, Washington and Washington, D.C.; the company is currently expanding its licenses into new areas.
The company’s name means “to connect” in Greek, Stamos’ ancestral language.
