The lender can purchase this lead outright at the advertised price or the lender can purchase this lead at a reserved price. If that lead is not sold to other bidders and becomes available again at the reserve price, the lead provider will present the lead back to the lender.

This entire auctioning process might happen within a few seconds and these additional lead price setting processes need to be responsive with the right amount of technology to communicate with the lead providers.

The lender can now implement their Lead Reject Models right inside of LendAPI’s platform and set their own pricing based on their own scores, strategies and leveraging variables and attributes from third parties. This functionality is now available to everyone on LendAPI’s platform.

We also have a new integrated partner, CoreLogic, rebranded as Cotality. CoreLogic’s CredCo is now available through LendAPI’s platform as an integrated partner.

LendAPI Partner Podcast

We have two new LendAPI Partner Podcast episodes! As a reminder to all of our marketplace partners, this platform is totally available for you to talk about your product and services. If you want to get on our podcast, please contact us an and we will get you scheduled shortly.

• LendAPI Partner Podcast with Chandan Maruthi, Founder & CEO of Twig

• LendAPI Partner Podcast with Justin Chi, Co-Founder of Cold Email Hackers

LendAPI Academy

Our Head of Product and Operations has recorded a brand new episode on our Decision Engine 2.0 series. Check this out. 

A Look at Our New and Improved Decision Engine

LendAPI FinTech Marketplace

We want to welcome these 10 members Synapze, Cognute, CIMBA.ai, Joshua Law Firm, Alltius, Salesforce, Carrington Labs, The Free Toaster, Checkbook, Cotality to our marketplace. We have also created the industry’s first FinTech Marketplace Slack Community. Join us to share knowledge and deal amongst each other. Like all of our offerings, this is a completely free slack channel to join.

We also want to mention that Answers ETC (T3) has been promoted into our Certified Platform Partner. Congratulations. We have also promoted Cotality as our integrated partner as well. Thank you guys.

LendAPI Platform Release Notes - v2.8.3 - v2.8.4

Overall Platform Enhancements

Platform - Role Permissions

• We enhanced the role permissions and restricted certain types of roles to access certain parts of the platform.

Platform - Email Templates

• We enhanced this template editor to allow for tables and other objects to be copied directly from other word processors such as Microsoft Word.

Rules Studio

• We added the Price Reject Model for lenders to bid for leads using their lead pricing model. We added functionalities with the lead providers to negotiate the right pricing on behalf of the lender.

Marketplace

• We added CoreLogic a.k.a Cotality to the FinTech Marketplace. They are also now an Integrated Partner, CoreLogic’s CredCo product is now available to use in our platform.

Errata

• In some instances, Product Studio API is called twice, we fixed this issue.

• Sometimes the Edit button in the Application View doesn’t work, we fixed this as well.

• We fixed a minor UI issue after a new Consent language was published.

• We fixed a UI issue when the Rule test path is highlighted incorrectly. 

• We fixed a UX issue in the Document section of the Application View.

• We fixed an issue when additional information is saved in the Tenant management panel.

• We fixed an authentication issue for clients on our Custom Pricing tier.

What’s Next?

We are continuing to work on the Lender Marketplace concept where lenders can direct applications to multiple underwriting systems and bring multiple offers to the applicant. We are also working on the BlackBox project where lenders can upload and map all of their modeling binaries and objects themselves. Stay tuned.

About LendAPI

LendAPI launches your financial products instantly. Follow us on Linkedin, X, YouTube, and check out our Decision Engine, Product Studio, Underwrite AI, Embedded Financing Product, Marketplace, Academy, Podcast, Capital and our Weekly Newsletter. Introducing our new community LendAPI Marketplace Slack Channel.