The CEO of Lending Club has given some context to his mortgage plans by saying that his company is not focusing on any particular niche in the mortgage market , but rather aims to improve the whole market . Whilst in personal loans Lending Club saw an opportunity to lower the cost of consumer loans , in which the goal is not to provide lower - cost credit , but to make the experience less stressful for customers . Renaud Laplanche said : " I do n't think there 's been much innovation in the mortgage experience over the last 20 years&hellip;Everyone 's complaining about the time it takes , and the amount of paperwork it takes , to get a mortgage or refinance a house . So I think that 's where technology can make the process a lot faster and a lot easier . "
The CEO of Lending Club has given some context to his mortgage plans by saying that his company is not focusing on any particular niche in the mortgage market, but rather looking to improve the whole process. Whilst in personal loans Lending Club saw an opportunity to lower the cost of consumer credit, in mortgages the goal is not to provide lower-priced credit, but to make the experience less stressful for customers. Renaud Laplanche said: "I don't think there's been much innovation in the mortgage experience over the last 20 years&hellip;Everyone's complaining about the time it takes, and the amount of paperwork it takes, to get a mortgage or refinance a house. So I think that's where technology can make the process a lot faster and a lot easier."