*By Amanda Weston* Credible.com is revamping how people refinance their mortgages ー in the time it takes to download an app. The platform has launched what it calls a [“modern mortgage marketplace,”](https://www.credible.com/mortgage-refinance) providing users with real-time rates from multiple lenders . Stephen Dash, founder and CEO of Credible.com, said it was time to rebuild the mortgage shopping and application process. “We think the old school method of lead generation is broken and is really anti-consumer,” Dash told Cheddar Friday. “The idea that you put your information into a 'lead gen' form, then your phone starts ringing and doesn’t stop ringing, we think that’s fundamentally anti-consumer." [Dash said](https://www.credible.com/blog/mortgages/credible-brings-the-power-of-its-marketplace-to-mortgages/) almost half of consumers don’t consider more than one lender when trying to apply for a mortgage. He said the process can be “so frustrating, difficult and confusing.” But with an estimated two million Americans refinancing their mortgages every year, there's a huge opportunity to change the way things are done, Dash said. “What we’re doing is completely different. It hasn’t been done before,” Dash said. “The technology that powers our platforms allows us to provide these accurate rates. So there’s no bait and switch. There’s no ballpark estimates. We’re giving you a personal rate from multiple lenders so you can choose which one is right for your specific situation.” Credible.com, which started as a student loan marketplace, doesn’t sell users’ personal data, preventing telemarketing calls. Using the service does not impact borrowers’ credit scores. It also gives consumers the ability to complete the transaction for a mortgage refinance directly. “We’ve learned a lot over six years about how to make the user experience so slick and easy, and take the friction out of the process,” Dash said. “And we’re taking that same approach and we’re extending the platform into mortgage re-fi.” Credible.com only makes money from the service if a borrower closes a loan, via a transaction fee. The service is currently available in 20 states, involving six lenders. Dash said there are plans to bring more on board soon. For full interview [click here](https://cheddar.com/videos/credible-launches-platform-providing-mortgage-rates-in-three-minutes).

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