LendingStandard efficiently gathers all the data and documents required to close a loan and transforms them into actionable information, streamlining commercial loan origination. By creating a central electronic repository for each loan, LendingStandard organizes all the information and correspondence associated with the transaction and presents the reporting you need to close loans efficiently.
Built to meet the demanding environment of multifamily lending, LendingStandard enables financial institutions to:
- Get Organized with Standardized Workflows and Checklists – Provide standardized workflows and checklists by transaction type, organizing everything required to finance a niche loan. Workflows and checklists can also be used to train new employees, minimizing onboarding time and processing errors.
- Integrate Current Letters and Preferred Documents – Financial institutions can leverage current letters, memos and other preferred documents by integrating them with its automation tools for efficient processing without changing current content or processes.
- Stay on Task with Automated Exception Reports, Reminders and Alerts – Generates daily exception reports of all open items associated with a loan. The system can also be used to assign open items to responsible participants. Once items are assigned, LendingStandard generates reminders and alerts, keeping loan origination on task.
- Generate Collaborative Third-Party Reports and Closing Documents – Provides the information necessary to request third-party reports and generate closing documents, including easy-to-manage “redline” versions of negotiated documents.
- Maintain Compliance – Ensures compliance with common federal regulations such as Reg B, Flood, ECOA and FCRA by creating manageable checklists and tracking documents, workflows and approval permissions within each file. Additionally, audit reports are easily compiled to satisfy the requirements of federal agencies. LendingStandard can also be configured for unusual or uncommon audit tracking.
- Obtain Loan Performance Metrics Across Markets – Provides executive dashboards detailing performance metrics on niche loan activity across multiple locations that can be used to identify high- and low-performing areas.
At the end of the day, what drives us is simple: providing multi-family lenders with software that meaningfully impacts the way you do business and your quality of life.
Make your underwriters problem solvers, not problem managers.