LoanStreet, a fully integrated platform streamlining the process of sharing, managing and originating loans, now offers a new commercial loan origination and administration solution for any size financial institution, loan or deal volume. It combines the power of networking financial institutions together with lending technology that automates administrative tasks to drive growth, diversify risk, and enable lenders to better serve their customers.
LoanStreet’s new commercial lending features include:
Built-in collaboration tools offering the flexibility to originate the loan best suited to a borrowers’ needs without sacrificing the ability to invite other financial institutions into the deal:
Single access point allowing all parties, including borrowers, lenders, attorneys and auditors, continuous and secure access to the same information;
Integrated platform from origination to maturity avoids re-keying, duplication of efforts and eliminates transfer errors and other critical information loss that occurs over time;
Efficient process management enabling online, borrower self-service of key administrative tasks — including online payment acceptance — while improving internal controls and information flow; and
Automated reporting facilitating completion of all applicable regulatory and financial entries for you and every investor.
“For far too long, credit unions and community banks have been hamstrung by old, inefficient and highly manual commercial lending tools,” said Charles Giuliano, VP and head of commercial lending at NEFCU. “We are excited to finally have access to new commercial lending technology that can automate and streamline the process of originating and managing loans for our members and our participation partners.”
“The commercial origination and administration tools added to LoanStreet’s leading loan sharing platform benefit all types of lenders — from traditional community banks and credit unions to direct and alternative lenders,” said Ian Lampl, CEO of LoanStreet. “LoanStreet provides the flexibility that lending institutions need to more effectively serve their borrowers while automating the process of sharing loans.
“This is a giant leap forward in how financial institutions can manage their balance sheets. Simply put, the traditional constraints of geography, size, concentration or even legacy software systems, will no longer hamper their growth.”
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