When Qualified leads and seamless loan packages are delightful
In today’s world, lenders are looking for the best tools to streamline their business. In order to be competitive and being able to close deals fast, lenders need to run seamless processes all the way to funding
Quanta Finance is one of the lenders that face these challenges on daily basis. The long origination process along with underwriting is a daunting task. These repetitive tasks, can and should be automated. “At the end of the day, it’s about the speed to close. If we’re able to close a loan from start to finish within 14 days, then it’s a huge win to the customer. We ought to streamline the process in order to win the deal and keep up with a great experience for the borrower”
In order to maintain such a process, the utilization of automation tools are a must. As such LoanBase provides everything that is needed in terms of pre-underwriting: getting a qualified lead with a complete loan package, easy to access and manage dealroom where the borrower can upload and update all the info- and above all – this process saves us at least 75% of time spent on screening, pre-underwriting and issuing an LOI.
As a bridge lender with multiple products: construction, rehab, fix and flip and even stabilized properties, Quanta had to find a set of tools to allow better leads, more new prospects, and faster closing. LoanBase sent pre-qualified leads with a comprehensive loan package to each of the borrower’s deals and with a complete borrowers profile- no more back and forth questions- everything is just simple and organized: ” This is the best loan package I’ve ever got, this saved me at least 70% of the time previously spent on putting the loan request together”.
When the borrower gets better service, then the chances of closing rates go up and time spent on each loan is drastically reduced.