Challenges

When we started our engagement three years ago, Lyon was a middle-tier construction loan originator specializing in swimming pools. They were struggling with growth issues, and needed automation to accelerate the loan application process with the prospective borrower, and also the application dissemination process with the funding organizations. They were drowning in paperwork (real paper!) and many opportunities were neglected with the lack of automation.

Solutions

We developed a customized solution on the SugarCRM platform that grew to meet all of their needs. SugarCRM is a very secure platform that met all regulatory and privacy requirements while also being flexible enough to allow for the entry or upload of all application information, including documents and third-party credit scoring. All of this information is bundled and handed off to one or more potential lenders for underwriting, and the lender’s decisions are delivered electronically and immediately through the system.

Results

Lyon now processes more than 30,000 loan applications per year and are poised to originate loans in excess of $1 billion annually. They processes are completely automated and this allows them to focus on marketing and expanding the pool of lenders to consider applications.