Qualified Leads + Seamless Loan Packages = Delighted Customers
In order to be competitive, it is essential that lenders today offer their users a streamlined process.
“At the end of the day, it’s about the speed to close. If we are able to close a loan from start to finish within 14 days, then it’s a huge win for the customer. This goes a long way in winning the deal and providing a great experience for the borrower.”
Unfortunately, many lenders struggle in this regard. One lender, Quanta Finance, once faced daily challenges with their loan origination process. A lengthy origination process plus an extensive underwriting process led to many unnecessary delays.
In order to create a streamlined, consistent process, automation was key. This was where LoanBase came in. LoanBase provided Quanta Finance with the tools necessary for a quick and easy pre-underwriting review. Among other things, they offered Quanta Finance qualified leads with complete loan packages, and an easy-to-access dealroom where borrowers could review their information and upload their requested documents. Thanks to LoanBase’s automation software, Quanta Finance now saves hours formerly spent on screening, pre-underwriting and other prerequisites of issuing a Letter of Intent (LOI).
As a bridge lender with multiple products (construction, rehab, fix and flip and stabilized properties), Quanta Finance utilizes LoanBase’s technology to find and convert more leads and keep prospects updated. Ultimately, this allows for faster closing times which makes customers and employees alike happy.
“LoanBase sends us pre-qualified leads with a comprehensive loan package and a complete borrower profile. There’s no more hassle of back-and-forth questions with the borrower; everything is simple and stored in one place. It’s safe to say that the services provided by LoanBase are exceptional and have drastically reduced the amount of time we once spent putting together loan requests.”