Canadian p2p lending service CommunityLend announces:
MorWEB partners with CommunityLend Inc. to provide direct access to
unsecured lending options for the Canadian Mortgage Broker market
Marlborough Stirling Canada (MSC) is pleased to announce that direct access to CommunityLend, Canadaâ€™s only online Peer-to-Peer lending service, will now be available to the broker market using MorWEB.
MorWEB brokers will now be able to seamlessly refer clients directly to CommunityLend to arrange unsecured loans from private investors.Â This will provide another value added service to customers of mortgage brokers using MorWEB.Â Phase one of this novel integration is now available on the MorWEB platform with a more comprehensive integration scheduled for later this year.
CommunityLend, …, launched earlier this year and is exploring a number of different marketing options to spread the word about its services and to recruit good quality borrowers looking for more competitive rates for small unsecured loans.
â€We are excited by the opportunity to work with one of Canadaâ€™s leading software providers to the Mortgage industry,â€ noted Michael Garrity, CEO of CommunityLend.Â â€œWe understand the important role of Mortgage Brokers in helping their clients to find the best rates on loans to meet their needs. …â€
Since CommunityLend is restricted to accredited investors* by regulation, this marketing move uses an existing multiplier to reach potential lenders. It continues the earlier reported trend of existing financial institutions partnering with new p2p lending players.
(Source: CommunityLend blog)
*corrected – an earlier version of the article wrongly stated “institutional lenders” – see comment below