AI and Machine-learning enhanced software with on demand team of servicing professionals to help you manage your portfolio better.
Any financial institution, public or private, which lends money for the purchase of commercial real estate is a mortgage servicing company. Mortgage servicing companies hold the mortgage and receive payments for a loan.
Lenders take on a measurable amount of risk in providing loans to commercial real estate investors. Through the mortgage servicing process, lenders consider many factors to mitigate those risks.
Four key factors in mortgage servicing for commercial real estate are:
These factors must be in the appropriate range based on the requirements of individual lenders. Lenders utilize underwriters to determine loan approval for the borrower and the commercial property.
During the mortgage servicing process, underwriters must look at all pertinent documentation to determine loan approval. Underwriters must obtain personal and business financial statements, operating statements, rent rolls, and credit reports to determine loan worthiness.
When done manually, this can be a long and drawn-out process, which is why many use CRE automated underwriting to get approval results faster.
The CRE mortgage servicing process through automated underwriting eliminates errors, speeds up the approval process, and drives down loan servicing costs.
All property information gets extracted from Excel or Argus Modeling spreadsheets into the software platform with a click of a button. Personal financial information can also be sent in multiple formats and extracted into the automated underwriting software quickly and easily.
After extraction and calculation, all necessary information is summarized into a one-page document for an underwriter. The underwriter can then review the risk and confidently decide to approve the loan.
Once a loan is approved, the borrower obtains the funds to purchase the property. The lender or mortgage service company will manage the loan from the closing of the purchase until the loan satisfaction.
Lenders must complete their application and approval process for every commercial real estate loan. When considering which lender to choose as your mortgage servicing company, look for one who will assist you in driving down costs.
Clik.ai has been helping Commercial Real Estate investors, brokers, lenders, and managers with mortgage servicing since 2017 and have helped identify $12 Billion in commercial real estate opportunities.
By working with the Servicing Hub, Commercial Real Estate investors and lenders can reduce operating expenses, stay competitive, free up time to focus on customer relationships, and spend time on deal analysis rather than mortgage servicing.
When looking for a mortgage servicing company, consider the Services Hub. Our on-demand team of commercial real estate analysts are experts in mortgage servicing, lease abstraction, lease audits, automated underwriting, and much more.
