The Hidden Costs of Data Entry in Manual Loan Processing
Apr 22, 2024
In the ever-evolving landscape of construction lending, efficiency and accuracy are paramount. Yet, an often-overlooked aspect that significantly impacts the bottom line of lending operations is the cost associated with manual data entry in loan processing. This blog post delves into the nuances of this challenge, highlighting the underlying costs and proposing a modern solution. It is crafted for construction lenders who aim to refine their operations, enhancing both their efficiency and customer satisfaction.
Tips For Efficiently Scaling Your Construction Lending Program
Mar 12, 2024
In today's rapidly evolving construction landscape, where the demand for new housing and infrastructure far outpaces supply, construction lenders are finding themselves at a crossroads. The challenge? To scale their construction lending programs to meet this burgeoning demand without succumbing to the snares of increased overhead and complexity that often accompany growth. This balancing act requires a nuanced approach, blending innovation with tried-and-tested strategies to expand lending operations efficiently. Here, we explore how lenders can navigate this terrain, offering practical insights to grow your construction program sustainably.
In recent years, construction lenders are increasingly looking to nationwide firms to monitor their construction loan portfolio. Outsourcing these field services provides many benefits relative to coordinating with a local contact or even using in-house inspectors:
5 Tips For Mitigating Risk Across Your Construction Loan Portfolio
Feb 7, 2022
Construction lending is not easy. Each project is unique, delays are common, material costs are uncertain, collateral isn’t straightforward, and there are multiple stakeholders involved with different incentive. That said, there is specific actions that can materially reduce risk in the process.
Best Practices For Streamlined Construction Lending Operations
Jan 12, 2021
Managing the construction lending process can be challenging. Multiple stakeholders are typically involved; no project is the same; and documentation is overwhelming. In order to drive profitability, enable scale, and ensure clients are satisfied, it is critical to establish efficient operations: