Real estate lender DCMF has been underwriting every application in the new LendLeap Platform since Monday 14 September.
DCMF, a provider of real estate financing for investments and projects with a long and successful track record in the Dutch market, has been live on LendLeap since Monday 14 September. DCMF's entire underwriting process now runs through the LendLeap Platform. The implementation took just two weeks.
From configuration to production in two weeks
In two weeks, DCMF's complete underwriting process was configured, tested and taken into production. The configuration covered, among other things, the calculation rules, document checklists and offer templates DCMF uses. In addition, an integration with DCMF's financing application portal was built. The other external integrations relevant to assessing financing applications were delivered within those same two weeks. DCMF can also make immediate use of existing functionality in the LendLeap Platform, such as digital signing of offers. The direct benefit for DCMF is that processes run faster and the chance of errors is smaller.
Clients hardly noticed the transition
In the days before go-live, the active pipeline was migrated step by step. On go-live day itself, the first offers were issued from LendLeap straight away and DCMF started working on the platform at full pace. Thanks to close coordination between the teams and a tight schedule, operations simply continued and DCMF's clients hardly noticed the transition.
Why it could be done so quickly
The short lead time was possible because LendLeap spent a large part of the implementation on site at DCMF. Questions were answered immediately and adjustments were made the same day. Because the LendLeap Platform is configurable, the underwriting process could be set up the way it runs at DCMF, without lengthy custom development and without compromising the process.
Statement from DCMF
John van Gerwen, CEO of DCMF: "The main reason we chose LendLeap is their knowledge of the processes in real estate financing. They know exactly which steps parties go through when applying for financing, and they have automated that. It sounds very simple, but with it they have built a platform that simply works perfectly. The technology is also state-of-the-art and ready for the future. Integrating with other systems and the use of AI are important components of that. This gave us the confidence that with LendLeap we have the right partner at our side to realise our growth ambitions."
Frederik Maussen, Head of Underwriting at DCMF, on behalf of the underwriting team: "After one week of working with LendLeap, we already see the added value in practice. The platform gives us more overview, supports our processes extremely well and helps us assess files faster and more efficiently."
Statement from LendLeap
Floris Pierik, co-founder of LendLeap: "Replacing a loan origination system is often seen as a project of months. At DCMF we show it can be done in two weeks, provided the platform adapts to the lender's way of working and not the other way around. DCMF took this on with real drive internally, and that made the difference. We are very pleased with the trust DCMF has placed in us and look forward to continuing the partnership."
About DCMF
DCMF (Dutch Commercial Mortgage Finance) is a provider of real estate financing for investments and projects with a long and successful track record in the Dutch market. The company specialises in short-term financing, including bridge, development and construction loans for both residential and commercial real estate. DCMF is based in Amsterdam. More information: dcmf.nl.