Lendesk’s latest solution is cutting time spent on one of mortgage’s most manual steps by up to 90%
As AI continues to dominate mortgage technology, the pressure is on to keep pace with change. At Lendesk, the goal is simple: support the work mortgage professionals are already doing, with a focus on removing friction.
To that end, the Lendesk team recently rolled out an AI-powered down payment verification for both brokers and lenders. Designed for those involved in mortgage origination, its launch cements Finmo, its mortgage origination platform, as the first to embed this capability directly into its workflow.
“If it’s a simple file it’s quick, but once you’re dealing with multiple accounts, transfers, and movement over time, it gets really manual,” says Carter Zimmerman, president of Lendesk. “Most mortgage professionals do it. The problem is they’re spending time doing it over and over again. We want to support them where it makes sense. They still own the process; we’re just adding a structured way to verify files faster.”
From hours to minutes: how Finmo is embedding AI at the point of origination
While brokers complete the down payment verification step as part of the application process, they aren’t the only players in the process who must grapple with it. Financial institutions face the exact same challenge on the direct-to-consumer side. Whether a file comes through a broker or is originated internally, the lender’s team still needs to trace and validate the source of funds.
With more borrowers drawing from multiple sources, moving money across accounts, or combining gifts with savings, that routine step is becoming more complex year-over-year. As a result, reviewing even relatively straightforward files can now eat up an hour or two.
Lendesk saw this friction point for what it was: an opportunity. As a step in the process that’s repetitive and document-heavy, where doing it manually at scale creates real bottlenecks, it was a natural fit for AI intervention. The solution is built to support both workflows and not just downstream adjudication, but the initial review at the point of origination.
“Our immediate focus is clear,” Zimmerman notes. “Reduce time spent reviewing documents, improve consistency, and give both brokers and lenders a faster path from file submission to decision.”
That path is already measurably shorter. According to early user feedback, they’re slashing those 60–120-minute files down to under 10 minutes — a direct result of how the tool is built into the process from the start.
Finmo serves both brokers and financial institutions involved in mortgage origination. For those already on the platform, the AI down payment verification is embedded directly into that existing workflow. It automatically requests the required documents based on the borrower's application, guides them through the upload process, and follows up if anything is outstanding. By the time verification is needed, the documents are already in the system.
Nothing needs to be re-uploaded or moved from place to place: documents are centralized, organized, and tied to the file from step one. Everything stays within Finmo, which is SOC 2 compliant. From there, users can generate a structured verification summary in a single step — no file downloading or tool switching required.
“The result is faster reviews and stronger control over document handling,” Zimmerman says.
For financial institutions not yet on Finmo, a standalone version can be deployed within existing systems, without calling for any platform migration. Whether supporting broker submissions or originating mortgages directly through their own direct-to-consumer channels, teams can apply the same verification process without disrupting familiar workflows.
Gaining ground — and just getting started
Zimmerman notes that adoption is well underway, with hundreds of users across brokerages and financial institutions already on board and putting the capability to use where it makes sense. It’s no surprise, he adds, that the most traction is with teams facing those complex files involving multiple accounts, transfers, and sources of funds.
“The ability to apply it selectively, without changing existing processes, has been a key driver of early usage,” Zimmerman says, adding that the pricing model also reflects that flexibility.
Unlike subscription or credit-based models that can leave teams paying for capacity they don't use, the pricing is straightforward: $10 per deal, no minimums or monthly fees, with multiple verifications per deal included at no additional cost. Mortgage professionals can access it through Finmo or as a standalone solution. New users also receive free credits to test the tool before paying.
Lendesk’s core commitment is providing timely tools and support to mortgage professionals that reduce friction. And, Zimmerman stresses, this is just the beginning.
“We want to be clear that the down payment verification tool is only the first release in a broader wave of AI capabilities from Lendesk,” he says. “Stay tuned for what’s next.”
Want to know more? Get further details on the Finmo AI down payment verification page.
This article was produced in partnership with Lendesk
