Ownership Derek Malila founded PerfectLO in 2016, leveraging 20 years of mortgage lending experience to design an application that streamlines the mortgage loan process for borrowers and mortgage loan originators. The company generated $60K of revenue in its first year and has doubled since.


The mortgage loan origination process continues to be an inefficient and iterative exercise of document collection and review. PerfectLO is a unique software solution that systematically creates customized checklists, collects and tracks documents, and generates a loan file to present borrowers for approval. This solution greatly improves efficiency while simplifying the process with multilingual communications for borrowers. Clients include anyone that deals in the mortgage industry space to include individuals, company’s and resellers alike. Clients typically sign a Software As A Service (“SAAS”) agreement that includes a set-up period, regular maintenance, and associated monthly fees that form the main revenue stream for PerfectLO. PerfectLO started generating revenue in the fall of 2016 and now has over 200 customers. During this proof-of-concept period customer acquisition was secondary, and largely done via LinkedIn, Facebook, a few trade shows, and our outstanding customer service. We concluded that period with the development of a highly configurable application, greatly simplifying and shortening the onboarding and customization process. Ultimately, the solution is flexible enough to pursue other, similar loan products or other industries with heavy documentation requirements, such as the legal and accounting professions. Next Steps: We need to increase our marketing efforts

Long-term growth

Our product has the flexibility to be configured to most any industry. We provide customers with industry designed templates to gather the information that is important for them from their clients. These templates can be customized for our customer in any way they wish. We provide them with a platform to allow their customers to upload documents, post their forms and collect data in any way they see fit. Milestone with built in notifications are standard within our platform. A decision tree setup allows for ease of use, with all controls in place for the most complicated companies. Beta testing has proven the flexibility of the platform to work across a wide array of industries to include; Credit Unions, Auto Dealerships, CPA firms, Attorney firms and Insurance Companies, to name a few. Sales on this platform have been made during the Beta phase, within these industries. Light development is needed

Opportunity for Growth
ReadyPrice (https://www.readyprice.com) provides a Loan Originating System
(LOS) to the mortgage industry. They are launching a new product called

Mortgage.Exchange which is a plug-n-play, all-in-one, pay-as-you-go enterprise-
strength universal mortgage banking suite with lockable pricing. PerfectLO is

their Point of Sale or front end of this system. ReadyPrice has huge market
exposure and have closed over 300,000 loans prior to the launch of Mortgage
Exchange. They are projected to be closing thousands of loans a month by the
beginning of 2020. PerfectLO’s revenue will be $150 per company setup and
$12.00 per each closed loan.
WEI Technology LLC (https://www.lendingpad.com) provides solutions for the
mortgage lending process. Their Loan Originating System (LOS), LendingPad, is
integrated with PerfectLO to streamline the process for our clients by
automatically transferring data to keep client’s information updated and
removing this manual process. We have a straight referral partnership with WEI
which has generated on average, 5 new clients for the past 4 months since this
Rate Barn (https://www.ratebarn.com) is an insurance company that PerfectLO
has partnered with to sell insurance to borrowers when they request a quote
through the PerfectLO platform. Revenue to PerfectLO is $10.00 per click for each
borrower that opts in through the mortgage questionnaire process. An additional
$40.00 is received by PerfectLO per bound policy. Development to add the
“insurance” question to the PerfectLO questionnaire is currently in process.
Associated Software Consultants, Inc. (http://www.powerlender.com) has a suite
of loan products and services. Their LOS solution, PowerLender, doesn’t provide
their clients with a Point of Sale system. They want to license PerfectLO’s Point
of Sale to sell to their existing banks and credit unions. The licensing agreement is
currently being reviewed with revenue being generated from an Annual License
Fee and a 50/50 revenue split between the companies.
Specialized Data Systems (http://specializeddata.com) offers a number of
solutions to the mortgage industry. They do not have a Point of Sale product and
want to license PerfectLO to sell to their existing bank and credit union clients and
add it to their portfolio for new business. The licensing agreement is currently
being reviewed with revenue being generated from an Annual License Fee and a
50/50 revenue split between the companies.
SilverCloud Inc. (https://silvercloudinc.com) provides automated support
solutions for over 200 banks and credit unions in North America. SilverCloud
wants to expand their product options by adding PerfectLO’s Point of Sale system
to their list. Conversations continue over a licensing agreement and revenue
share percentages.
Capital Raise
We have been in a “proof of concept” mode since inception. However, this has
allowed us to focus on our existing clients needs and bettering or product. Funds
will be used for marketing and development. We need to get our “product/tell”
out there. It is unique and solves real world problems. We are looking for $100K
to finalize Development to satisfy our Partners/Resellers needs, expand the
application to a CRM (double revenue) and for Marketing.