13 Feb, 2019, 08:38 ET
NEW YORK, Feb. 13, 2019 /PRNewswire/ -- LoanStreet Inc., the first fully integrated platform that streamlines the process of sharing, managing and originating loans, now offers a new, powerful commercial loan origination and administration solution for any size financial institution, loan or deal volume. LoanStreet uniquely combines the power of networking financial institutions together with world-class 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 your 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.
- 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, 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," Lampl added. "Simply put, the traditional constraints of geography, size, concentration or even legacy software systems, will no longer hamper their growth."
About LoanStreet Inc.
LoanStreet is the first fully-integrated, online platform that streamlines the process of sharing, managing, and originating loans for credit unions, banks, and direct lenders. LoanStreet was founded in 2013 with the mission to create a more efficient, transparent, and robust way of administrating loans and connecting the lending market. LoanStreet's nationwide network of hundreds of financial institutions gives lenders the ability to profit and grow by combining technology and dedicated expertise to effectively manage the constraints otherwise caused by geography, size, or concentration limits. Hundreds of financial institutions now use LoanStreet's software solution to successfully do business with each other and maximize the potential of their respective organizations. LoanStreet was co-founded by Ian Lampl, former Deputy Chief Counsel for TARP, following the financial crisis to meet the acute need he saw for a standardized and automated loan sharing platform. For more information or to join the LoanStreet network, please visit www.loan-street.com or email: [email protected].
SOURCE LoanStreet Inc.
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