LendingTree launches Canopy lender management platform – NMP Skip to main content

LendingTree launches Canopy lender management platform

NationalMortgageProfessional.com
Aug 25, 2009

LendingTree, an online lending exchange, has launched Canopy, an easy-to-use, online portal designed to show lenders where untapped potential loan volume lies and how to maximize overall performance. The system delivers analytic capabilities in a simplified view in order to help lenders understand borrower trends and identify potential new volume opportunity. Additionally, Canopy will function as an online destination for real-time LendingTree Exchange news, as well as other mortgage industry information. Network lenders and LendingTree account managers will have access to a massive database of information and real-time communication tools. Planned updates to the system in future months also include online training and loan officer certification along with enhanced operational reporting. The volume opportunity identification component of Canopy enables each lender within the LendingTree Network to identify the type of borrower it seeks based on specific borrower and loan criteria. By creating 'what if' scenarios lenders can see in real-time what certain adjustments might yield in terms of available additional revenue and profit opportunity. If the potential outcomes are favorable, users can implement the new targeting parameters in just a few clicks. 'With the Canopy platform, we're providing our lender network with a user-friendly dashboard that operates in real-time to help them succeed through improved planning and execution to reach new customers and drive profitable growth,' said Bob Harris, president of the LendingTree Exchange. "Canopy eliminates the guesswork, essentially showing lenders how they can benefit from valuable untapped volume within and outside of their existing segmentation parameters. To be able to actually see that potential and immediately act on it is a true business advantage - especially given current market conditions." Canopy began internal product testing earlier this year and was then rolled out to a small group of lenders on the LendingTree Network. Feedback to this new product offering has been very favorable. Additionally, lenders acknowledged Canopy's ability to allow volume trending, opportunity identification, and efficiency gains as key benefits of this new system. 'This platform helps us adjust our loan filter parameters, opening up a whole new world of potential for us," said Owen Raun, president of Houston-based RMC Vanguard, a beta participant and LendingTree Network lender. "Beyond the ability to discover new volume, Canopy gives my loan officers an enhanced relationship with their LendingTree account managers--everyone can operate on the same page, acquire the same data and make quick, informed decisions." Over the last several months, LendingTree has released a number of new lender products and tools for their Lender Exchange partners. LendingTree lenders can now receive information on prospective borrowers specifically looking for FHA loan products. LendingTree also recently launched its Customer Retention product that uses proprietary filtering technology to identify current customers, while enabling banks and lenders to leverage the marketing capability and brand presence of LendingTree.com in order to keep valuable customers within their loan portfolios. For more information, visit www.lendingtree.com.
Published
Aug 25, 2009
Mortgage Rates Jump Back Above 5%

Freddie Mac says rates recent volatility continues.

Industry News
Aug 11, 2022
Redfin: Share Of Relocating Buyers At All-Time High In July

People are looking for less expensive and better lifestyles.

Industry News
Aug 11, 2022
Redfin Expands iBuying Business To Florida

RedfinNow, which makes cash offers for homes, now operates in 34 markets in 16 states and the District of Columbia.

Tech
Aug 11, 2022
Fannie Mae Appoints Chief Audit Executive

Cissy Yang, an experienced financial services executive, will lead the GSE’s audit strategy.

Industry News
Aug 10, 2022
Angel Oak Mortgage Reports Second Straight Quarterly Loss

Non-QM lender reported net loss of $52.1 million.

Industry News
Aug 10, 2022
loanDepot Dumping Brokers, Exits Wholesale

As company reports second straight quarterly loss, it announces plans to exit its wholesale business by Oct. 31, 2022.

Wholesale
Aug 09, 2022