Early September 2018, we had the opportunity to attend Crittenden’s Real Estate Finance Conference 2018 for the second year in a row. Industry leaders from top firms spoke on panels about real estate finance strategies and industry trends including alternative sources of capital, joint venture equity investing and small balance lending. A reoccurring theme was the importance of staying on top of technology or risk falling behind your peers and competitors.
During the Small Balance Lending session, the panel discussed today’s technology landscape for loan management. Currently, there are multiple systems to handle various business segments, which can lead to redundant data processes. Panelists agreed that a current need in the market is a single straight-through-processing platform for the complete loan lifecycle. The ideal loan management system should encompass origination, servicing, accounting and asset management.
Running multiple software applications can become a bottle neck for firms looking to be more nimble in the loan closing process. We often hear that the transfer to servicing is a scramble that could be avoided if information was captured along the way from the initial request in one central place. From the borrower’s perspective, it can also be frustrating to re-provide details that were already given at an earlier stage.
SS&C’s Precision LM software provides a single platform that integrates origination, servicing, accounting, asset management and reporting into a feature-rich, easy-to-use application. This system is highly automated providing accurate and auditable results for all loan types.
Precision LM can help your organization stay ahead on the technology curve and promote repeat business with borrowers by:
- Improving operational efficiency with centralized workflow management.
- Reducing the number of back-and-forth calls and emails.
- Eliminate human error and redundant data entry.
- Improving borrower experience by eliminating duplicate requests for the same information.
- Support for all commercial and residential loan types.