NorthLend Financial is a private lender in the GTA, run by a team of six people. Jason Anbara launched the mortgage administration company in 2017 when he realized he was organizing a lot of private deals for other lenders instead of doing it for himself. Automation played a significant part in the growth of NorthLend Financial’s business, as Jason shared with us.
When the majority of private lenders approve deals, equity is their main criterion. NorthLend prefers more of an underwriting approach, gathering all the documents to make sure the borrower is fully qualified to get the loan, thus taking better security measures to protect their investors.
Naturally, this process involves a lot of paperwork, and the team at NorthLend used to waste most of their time writing Commitments, working with documents in Excel and Word, creating mortgage instructions, and reports. This manual process was heavily impacting their efficiency.