On Lenda, homeowners start by entering basic information about themselves, including their credit scores, current mortgage, and estimated value of their homes. Lenda’s algorithms then automatically determine which loans that homeowner would likely be approved for. Users can upload their bank documents right on the site and e-sign their applications, so they can avoid the mountains of paperwork that traditionally dominate the industry. And while it still takes about 25 days to close a loan with Lenda (there’s no getting around the basic regulations), van den Brand says that’s much shorter than the industry standard.

http://www.wired.com/2015/01/lenda/