Sphinx Capital
Dec 9, 2024
Discover how Sphinx Capital, a nationwide real estate lender, used Addy AI to streamline loan processing by automating data aggregation and summary creation. Tasks that once took up to an hour now take just one minute, boosting efficiency by 10x and allowing their team to focus on client relationships instead of manual loan processing work.
Addy AI empowers mortgage lenders to originate loans faster. It seamlessly allows loan officers to automate manual tasks like checking loan guidelines, creating loan summaries, and following up with borrowers, leading to a much more efficient lending process and higher borrower satisfaction.
Lance Stukaloff, founder of Sphinx Capital, was frustrated with the time his team spent manually processing loan information. By adopting Addy AI, he was able to automate much of the process, cutting down the time spent on each loan from hours to just minutes. This allowed his team to shift their focus back to building relationships and closing deals, making their workflow much more efficient.
10/10
Customer Overview
Sphinx Capital is a nationwide real estate lender specializing in residential and commercial properties. With over 10 years in operation, they offer tailored funding solutions for various loan programs such as Bridge, Construction, Commercial, and Residential Loans
Sphinx Capital's Challenges
Manual and Time Consuming Deal Summaries: Loan officers spent significant time manually collecting data from emails, phone calls, and forms, then inputting it into a deal summary document. A simple residential deal could take 10 minutes, while a complex commercial deal could stretch to an hour.
Loan Data Scattered in Different Places: Loan data was scattered across emails, CRMs, Loan Origination System (LOS) and spreadsheets, making it difficult for loan officers to quickly search, access and consolidate information.
Limited Workflow Automation: Without automation, loan officers spent significant time on manual, repetitive tasks at every step of the loan process. This added to the overall workload, slowing down workflow and limiting their ability to focus on more strategic activities.
Solution (How Addy AI helped)
Addy AI transformed Sphinx Capital’s loan origination process by consolidating data from emails, documents, CRM, and applications into a unified, searchable platform. Loan officers can now search by address or specific text, instantly accessing all related deal information, powered by AI for quick, accurate results.
Addy AI also automated loan summary creation. Addy AI agents autonomously scanned for new applications, generating detailed summaries with key loan and borrower information. These summaries were then made into a custom-branded document autonomously by AI agents and synced to Sphinx Capital's file system ready to send to underwriters, and updated automatically as new data comes in.
This automation saved time, reduced errors, and allowed loan officers to focus on client engagement, making Sphinx Capital’s process faster, more efficient, and scalable.
❝ It's at least 10 times faster. It really enhances what an LO can do... turning your originators into superheroes.
-Lance Stukaloff, Founder and CEO, Sphinx Capital
The Results
Time Saved: Loan summaries that previously took 10–60 minutes can now be generated in as little as one minute, representing a 10x improvement in efficiency.
Improved Workflow: Seamless data aggregation across silos allowed the team to focus on client relationships rather than processing tasks.
Scalability: The enhanced process enables Sphinx Capital to handle a larger volume of deals without increasing staff workload.
Start Closing Loans Faster – Book Your Demo Today
Stay ahead of the competition and discover how Addy AI can accelerate your loan origination process, reduce manual work, and help you close more deals in less time. Book a demo today and start experiencing the future of lending.