Preparing for a revitalized commercial lending forecast
by. Michelle Harbinak Shapiro
According to a new Mortgage Bankers Association survey, commercial lending is expected to increase in 2014 – with 91 percent of the top firms polled anticipating originations to increase.
Unfortunately, commercial lending has historically been labor-intensive, with limited investment in process modernization. But with an increasingly hungry and competitive market, the ability to control origination and servicing costs – while complying with regulations and delivering high quality service – has become a necessity.
Reduce paper dependency to increase speed, accuracy and transparency
Transparency is paramount for meeting compliance needs, but relying on paper fogs your vision. The right technology allows commercial lenders to increase both transparency and efficiency by breaking free of antiquated processes that depend on paper, making your institution a best-case scenario for auditors and an easy choice for consumers. Doing so also significantly reduces the costs and risks involved with paper.
To manage growth and stay ahead of the evolving regulatory environment, many commercial lenders are evaluating enterprise technology solutions that offer records management and workflow tools that can empower the entire organization.
That’s where enterprise content management (ECM) solutions help.continue reading »