LSI hits one million apps; says the next million will come faster

ELGIN, Ill. – Credit union lending firm Lending Solutions, Inc. here has processed its one-millionth loan application through its National Loan Processing Center, a 24-hour lending call center. LSI, founded by Rex Johnson, a recognized leader in lending issues in the credit union industry, seems to be going through a growth spurt. Not only has it hit the one million application mark, it has also eclipsed the 200-employee mark and has expanded its headquarters a couple of times in recent years. NLPC has been up and running since 1995. It currently provides lending services to about 500 financials, with the majority being credit unions. “We’re tremendously excited to have reached this incredible milestone,” said Mark Johnson, CEO of Lending Solutions. “When we entered the call center business back in 1995, we started off processing just a few applications a day. It took us six months to process our first 500 applications and now we are processing well over 20,000 applications a month.” The first million is always the toughest – LSI expects the next million applications in about half the time this million took. The majority of applications come in over the phone, however online lending apps are on the rise, according to LSI.