Dawar Alimi of Lender Price
An exclusive Tech Tribune Q&A with Dawar Alimi (founder, CEO, and president) of Lender Price, which was honored in our:
Tell us the origin story of Lender Price – what problem were you trying to solve and why?
Being in the mortgage industry for over 20 years, I have experienced the many manual and inefficient processes that go into originating and funding a residential loan. Technology in the mortgage space was severely outdated and built on legacy platforms, and we identified an area to streamline one significant aspect of the loan origination process. We focused on developing a highly configurable PPE solution that offered real-time rates to brokers, lenders, and wholesalers. Our solution is built on a modern technology stack that is API-driven and feature-rich, which provides a faster and simpler way to self-manage pricing and streamline mortgage originations. Lender Price provides an open accessible marketplace that empowers not only larger lenders, but also small brokers in the business. We want everyone to be able to take advantage of our technology.
What was the biggest hurdle you encountered in your journey?
Signing the first enterprise customer and building credibility in an industry that has long been dominated by large companies was our biggest hurdle. After winning the mandate, we had to then prove we could complete the implementation in a timely manner. Since that first win, we have continued to gain new customers and have built a reputation in the industry for being nimble and customer centric. We now work with nearly 200 mortgage lenders and thousands of brokers, and we support over 50,000 mortgage products. Several of the world’s largest banks and lenders like Mr. Cooper, PennyMac, and Flagstar Bank are using Lender Price’s solutions to further their digital lending strategy. As we continue to scale, we constantly push ourselves to stay innovative by improving our technology and offering new solutions that we believe will accelerate the transition to digital.
What does the future hold for Lender Price?
We are excited about the disruptive solutions that we are offering our customers, which have enabled them to increase revenue and realize cost savings. We believe our technology and customer service will continue to be key differentiators as we continue to tackle the inefficiencies in our industry. Our platform has processed over $20 billion in monthly locked loan volumes. Last year, we secured funding from Argentum that should enable us to scale our team across all functions within the organization, so we can expand our ability to service existing and new customers. We take pride in the services and solutions we offer and hope to continue growing the amazing team that will keep this momentum going.
What are your thoughts on the local tech startup scene in Pasadena?
Pasadena’s startup scene has flourished in recent years, as shown by an influx of new enterprises and a solid market for technology-related jobs. The neighborhood benefits from unmatched access to the talent pool at Caltech and other nearby universities, which has helped in the expansion of the city. Additionally, it boasts a plethora of restaurants and gathering spots for creative thinking. Each year, new enterprises are formed and it looks as though nearly every organization is focused on the next great technological advancement.
What’s your best advice for aspiring entrepreneurs?
Start now! A good entrepreneur is bold. They experience the fear of starting a new venture, but it can also be empowering. Follow your dreams and start small, but most importantly, start. Don’t be afraid of failing.