In 1995, company founders shared a vision of how the Internet could revolutionize mortgage banking. Undeterred by the industry’s historically slow adaption to change, the mortgage veteran and the programming genius committed themselves to the project, and by 1997, their vision was manifested in the first installation of PCLender’s flagship LOS in a regulated institution.
For its first five years of operation, PCLender focused over 80 percent of available resources on research and development of a proprietary software. The next three years emphasized establishing an efficient and effective support infrastructure for customers. During this rapid growth phase, PCLender established the industry’s most mature and advanced mortgage banking Software as a Service (SaaS) platform.
Over the following 10 years, PCLender enjoyed steady, responsible growth in terms of both size and number of customers, as well as features and functionality across the bank, credit union, and mortgage bankers vertical markets.
In March 2011, PCLender was acquired by Lender Processing Services (LPS), a leading provider of integrated technology and services to the mortgage and real estate industries. The acquisition of PCLender complemented LPS’ state-of-the-art origination technology division and expanded the company’s reach in the loan origination market
In July 2014, PCLender was reacquired by its initial founders Lionel Urban and David Faulkner. The new entity called PCLender, LLC was capitalized to expand the system functionality and implement more advanced automation solutions for lenders requiring increased compliance and workflow efficiencies. The system currently supports banks and credit unions with consumer point of sale, loan processing, automated underwriting, loan closing, integrated imaging, secondary marketing, trade management, warehouse management and interim servicing. PCLender’s retail and wholesale platform will now be expanded to support correspondent lending and include automated loan audit and post-closing review support. Additionally, an emphasis will be made to refine vendor integrations and build out fulfillment services that streamline lender operations.