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Founded in 1994 by Rex Johnson, former president of Baxter Credit Union, Deerfield, Illinois, LSI combines the expertise of one of the lending industry's renowned authorities with the resources of three other prominent lending professionals – Mark Johnson, chairman and principal shareholder; Brian F. Downey, former CEO; and Phil Stewart, director and shareholder.
Leading the way in 24/7 lending
Since our inception, we have always been at the forefront of delivering new, leading-edge technologies and solutions to its clients. LSI was the first to market 24/7 lending to the industry. In 1995, the company debuted the industry’s first lending center – The National Loan Processing Center (NLPC). A year later, LSI introduced the first interactive lending school – the University of Lending – and expanded its operation internationally by marketing 24/7 lending to the Canadian marketplace. More recently, the company reached another corporate milestone with the processing of our two-millionth loan application in 2004.
Over the years, LSI has continually expanded our lending operations to offer a number of valuable lending services including:
- 24-hour loan processing
- Internet lending
- Indirect lending
- Outbound services
- Identity theft solutions
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- Member service
- Mortgage processing
- Collections service
- Business lending
- Training programs
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LSI’s diverse product offerings and expert staff address the many challenges facing financial institutions in a highly competitive lending environment. LSI strives to provide clients with unique solutions to the problems and opportunities they may encounter in managing their lending functions.
Shaping the future
Today, LSI remains the acknowledged market leader in 24/7 lending. Our flagship service, the NLPC, is considered the premier 24/7 lending center in the industry, processing almost three million loans to date. LSI now employs more than 200 people, occupying a 28,000-square-foot office and lending call center, who provide world-class services to hundreds of financial institutions throughout North America.
As we add more options to our product portfolio, LSI will continue to impact the financial services industry by providing lending solutions focused on helping financial institutions achieve their goals, increase their competitive edge and create new opportunities for success.
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LSI Timeline
| 1994 |
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Lending Solutions, Inc. founded by Rex Johnson |
| 1995 |
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National Loan Processing Center debuts |
| 1996 |
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University of Lending holds first class |
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NLPC introduced to Canadian market |
| 1998 |
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LSI moves to new headquarters facility |
| 1999 |
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NLPC processes a record 20,000 loan applications in a single month |
| 2000 |
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Rex Johnson inducted into the Illinois Credit Union League Hall of Fame |
| 2001 |
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One millionth loan application processed |
| 2002 |
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Headquarters expanded for third time to accommodate company growth |
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27,000 loan applications processed in a single month |
| 2003 |
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Cross-sale penetration rate averages 60 percent for first quarter |
| 2004 |
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Two millionth loan application processed |
| 2005 |
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LSI adds Business Lending service option |
| 2006 |
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Exclusive WebClose service introduced |
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LSI offers complete Member/Customer Service transactions |
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