The fast-paced real estate world has come a long way from the days of paper and pen signatures on documents. As technology evolved, the process of buying, selling, and managing properties became more accessible and efficient. From the introduction of online listings to newer technologies that haven’t shown us everything they are capable of; we are looking at how far technology has come and what that means for users.

Pre-digital

Before the digital era, real estate transactions relied on traditional methods. Real estate agents were the go-to for property deals, and any information on listed properties could only be found in newspapers, classified ads, and brochures. If you were interested in buying a home, you had to spend the time sitting down and looking through physical pages for information, and when you found a property, you were interested in, you had to schedule a face-to-face viewing.  Ready to buy? The contract is pen and paper and requires you to set up a time to physically sign everything.

Internet Rises

As the internet rose in popularity, the real estate industry shifted more and more to a digital presence. Online property listings emerged and grew in popularity, and eventually real estate agents could easily share listings across multiple platforms thanks to Multiple Listing Services (MLS). These digital listings are easily accessible to prospective buyers and renters. With photos in the listings, you could also get a good idea of the property before physically setting foot there. It was even possible to take a virtual tour for a more detailed look into the property.

Mobile Tech

Smartphones entered the playing field, and the real estate industry saw another change. Interested buyers and renters no longer had to be tied to a desktop or laptop to search for properties. You could be on the go and looking at your dream property right on your smartphone. Quicker communication was also possible now, and potential buyers could have the answers to their questions quickly via text or an on-the-go phone call.

Big Data

The rise of big data analytics has been a game changer for the real estate industry. Real estate professionals now have access to vast amounts of data, allowing for more accurate valuations, and market trend predictions, and can overall make smarter investment decisions. These data-driven insights enable stakeholders to navigate the market with confidence and precision.

Real Estate Software/Tools

As technology continues to advance, new real estate software has emerged. This ranges from property management programs for landlords to lending software solutions like Bridge Loan Network’s Loan Management System for brokers. No matter what the software is for, the goal is to make everything as simplified as possible, with all the information you need in one place, and accessible anywhere you are.

Artificial Intelligence

AI-powered tools have begun emerging and will continue to as we learn more about where to use them. You may have already seen AI in use, ranging from property search recommendations to predictive analytics. Popularity will continue to grow with this tool, and as AI is continuously being adopted professionals can use it to analyze property photos to add tags to the listing, assist landlords with rent pricing, and even identify potential fraud in real estate transactions. AI continues to advance and is expected to change how we buy, sell, and interact with properties and other real estate professionals.

Looking Ahead

At Bridge Loan Network, we recognize the advantage of staying at the forefront of technology. As the industry evolves, so do we. We push to incorporate cutting-edge technologies, such as virtual customer support, comprehensive rehab budget analysis, and secure payment collection to ensure seamless and transparent transactions for investors. As we look ahead, we are excited about the possibilities that lie ahead and the positive impact they will have on real estate professionals.

As a mortgage broker in the private lending space, it is essential to have a strong and effective team to succeed. Building and managing a team is not just about delegating tasks but also about creating a productive work environment that fosters collaboration and encourages growth. In this article, we will discuss the importance of building your team and provide tips on how to create a productive work environment.

Improved Service

A well-functioning team allows you to provide better service to your clients. With a variety of skills and expertise on your team, you can provide a wider selection of products and respond quickly to client inquiries and needs. This level of responsiveness leads to increased customer satisfaction and loyalty, ultimately resulting in repeat business and valuable referrals.

Moreover, a strong team allows for specialization, where team members can focus on their respective areas of expertise. This specialization enables each team member to deliver personalized attention and tailored solutions to each client, further enhancing the overall service experience.

Increased Efficiency

Efficiency and productivity can be significantly increased by leveraging the strengths of your team members and allocating tasks and responsibilities accordingly. By dividing workloads and leveraging individual skills, team members can accomplish more while delivering optimal service to clients. Therefore, your team will be able to handle a larger client base, leading to increased revenue and business growth.

To further enhance efficiency, it is crucial to also embrace new technology and software solutions. Integrating lending software solutions like Bridge Loan Network’s Loan Management System streamlines tasks such as deal tracking, document management, and client reporting. By implementing technology, your team can streamline processes, minimize manual errors, and optimize overall efficiency.

Increased Competitiveness

A strong team empowers your company to outshine competitors by offering a comprehensive range of services and products. With a diverse skill set and expertise, your team can cater to a broader clientele and tackle complex deals that others may struggle to handle. This versatility positions your brand as a leader in the industry and allows for new opportunities like growth.

To stay competitive, stay attuned to industry trends, and maintain an awareness of market fluctuations. Continuously educate your team members to ensure they are equipped with the latest knowledge and industry best practices. By doing so, your team will remain at the forefront of the industry, consistently delivering innovative solutions to clients.

Improved Employee Satisfaction

Creating a positive and productive work environment has a direct impact on employee satisfaction, which, in turn, reduces employee turnover rates. When employees feel valued, supported, and engaged, they are more likely to remain committed to the company and perform at their best. This high level of employee satisfaction turns into increased productivity, better client service, and a flourishing team dynamic.

To foster a positive work environment, effective communication is vital. Clearly communicate expectations, responsibilities, and goals to each team member to ensure a shared understanding. Encourage open communication channels among team members to promote transparency and effective collaboration. By establishing a culture of clear communication, you minimize misunderstandings and duplicate work efforts, leading to greater overall efficiency and job satisfaction.

Recognizing and rewarding team members for their contributions is also essential for fostering a positive and productive work environment. Regularly acknowledge and celebrate individual and team successes to boost motivation, morale, and a sense of accomplishment. This positive reinforcement encourages continued excellence and creates an environment where team members feel appreciated and inspired.

Diversity in Decision-Making

A diverse team with a multitude of skills and experiences brings a wealth of perspectives and insights to the decision-making process. This enables your team to consider various angles and develop innovative solutions to complex deals and challenges. By developing an inclusive environment where all team members feel empowered to contribute their unique viewpoints, you foster a culture of collaboration and creativity. This, in turn, leads to better decision-making, improved deal outcomes, heightened client satisfaction, and increased repeat business.

Facilitating a Productive Work Environment with a Lending Software Solution

In addition to these tips, it is also crucial to stay up to date on the latest technology and software trends. Lending software solutions such as Bridge Loan Network’s Loan Management System can help streamline processes and improve efficiency among lending teams. Bridge Loan Network’s software simplifies tasks such as pipeline management, document collection, and client reporting in a cloud-based system. By implementing a Loan Management Solution, you can remove back and forth emails, files getting lost, or responding to the wrong email chain, and instead focus on your team’s productivity and better serving your clients.

Overall, building a strong and effective team is crucial to success as a professional in the private lending space. By facilitating a positive and productive work environment and investing in your team, you can improve efficiency, competitiveness, and employee satisfaction, and ultimately, better serve your clients. Additionally, staying up to date on the latest technology trends such as lending software solutions like Bridge Loan Network’s Loan Management System, can further improve your team’s productivity and help your team close more deals.

Real estate investing is an attractive wealth-building strategy for many people. There are many different directions that you can go in, from fix and flip to buy and hold. With so many investment strategies, it can be difficult for new investors to know what direction is right for them. In this article, we will explore some of the more popular real estate investment strategies that may be right for investors just starting out.

BUY AND HOLD:

With a buy and hold strategy, the investor finds a property to purchase and hold for rental income and long-term appreciation. This allows for a steady cash flow (assuming the property is rented out) and passive income. There may also be some tax benefits associated with the buy and hold strategy. Mortgage interest, property tax, insurance, depreciation, and other property related expenses can be deducted.

However, you would have to take on the role of landlord and would be responsible for property management responsibilities. This would include property maintenance, tenant management, and rent collection, and you would be subject to additional legal and regulatory requirements. With any investment strategy, there are always market risks to keep in mind. Changes in supply and demand or local market conditions can impact property values and rental demand.

VACATION RENTALS:

For vacation rentals, the investor rents out owned properties on a short-term basis for vacations and temporary stays. There is potential for a higher income compared to long-term rentals due to higher average nightly rates. Seasonal demand in tourist markets may also result in higher-than-average rates during peak vacation season. You also have more control over minimum and maximum stays, allowing you to better control occupancy. Rates can be adjusted according to market demand, meaning you can optimize your revenue and adapt to recent market trends. Long-term, you may also be able to make gains when it’s time for you to sell the property due to the desirable location and a strong tourism market.

But you can’t rely on the income to be there 12 months out of the year. Expect seasonal fluctuations and demand that varies year to year or season to season. There may also be additional operating expenses (think cleaning expenses and more maintenance requirements). You should also be aware of regulatory restrictions since zoning requirements and definitions may vary by location.

FIX AND FLIP:

Fix and flip is a good strategy for those who are hands-on and like a project. The process involves finding a property that needs updates and fixing, doing the necessary repairs, and selling at a profit. There is the opportunity for large profits to be made since the property is being bought at a discounted price, improvements are completed on the property, and then selling the property at a higher price point than purchased. If you are a more creative/hands on person, it is an opportunity for you to use your skills, knowledge, and creativity for a fulfilling and engaging investment. It will also be a short holding period, meaning quick turnaround and quick profit.

But you should be aware that as you start getting into the project you may start uncovering bigger issues that need more work and time to complete, leaving you with a higher-than-expected renovation cost, and resulting in less profit. The market also has the potential to be unpredictable, meaning you could be guaranteed a quick sale when you buy it, but by the time the project is done, it could be sitting on the market for a little while, costing you more and cutting into your profit.

REAL ESTATE DEVELOPMENT:

Real estate development involves the purchase of land or existing properties to build, renovate, or convert into new projects with the intention to sell or lease completed properties. Projects that meet market demand and are well executed have the potential to result in high financial returns and high profits. You also have control of the entire project, from acquisition to renovation/conversion, design, and marketing. Through this process, you will also be able to create value through improvements and functionality of properties.

However, there is the requirement for significant upfront capital, and it will be necessary to secure financing for land, construction, and permit costs. It can also be a complex and time-consuming process, and the project’s success is dependent on being able to sell or lease the property when done. Market risks should also be considered. Supply, demand, competition, and change in the economy and market shifts can all impact the project and result in less financial gains.

PORTFOLIO BUILDING:

With portfolio building, the investor acquires and builds a portfolio of properties over time. The properties may vary in location or type of real estate. Overall, the goal is to build a collection of properties that provide cash flow, value appreciation, and long-term wealth accumulation. You will be able to easily diversify investments across various locations, properties, and market segments. There is also the benefit of some protection against inflation. As inflation increases, property values and rent increase.

Before you decide on building your portfolio out, be aware that this strategy requires significant capital, can be expensive, and you will need funds for closing costs, own payments, and any renovations. It may also be necessary for you to take on management responsibilities, which would take time and resources. There is also a risk with financing and interest rates. Interest rates may fluctuate, costing you more money in the long run.

WHOLESALING:

For wholesaling, investors identify properties to secure under contract and assign or sell the property to another investor without taking ownership of the property. With this strategy, there are minimal capital requirements with little to no upfront capital investments. It’s a good opportunity for new investors to learn the ropes and understand market dynamics, develop negotiating and deal finding skills without significant financial commitment.

However, potential profit is very limited since you act as the middleman in the deal.  The process requires marketing and lead generation to find the properties and potential buyers. Wholesaling may also have complex legal and contractual requirements. This means you need to understand local regulations and be able to draft appropriate contracts for the property. Failure to do so may result in disputes with the sellers, buyers, or any other parties involved in the process.

Determining which investment strategy is right for you is an important step in achieving financial goals and building your long-term wealth. Remember that there is no one size fits all strategy, so what works for someone else might not necessarily be right for you, and that’s okay. Be sure to weigh all the pros and cons of each strategy you are considering, and you’ll find the one that’s right for you.

When you decide on your perfect real estate investment strategy, Bridge Loan Network’s software is available to help you keep all your lending files and information organized and secure. If you are interested in learning more, sign up for a demo today!

Loan Management Systems (LMS) and Loan Origination Systems (LOS) help to provide a streamlined and automated lending process. These systems are an essential tool to improve efficiency, reduce costs, and ensure compliance.  In this post, we will provide an A-to-Z list of the features and functionalities of our LMS and LOS.

AUTOMATION

Don’t be stuck in the manual process anymore. Bridge Loan Network’s Loan Management System and Loan Origination System allow brokers and lenders to ditch tedious processes and automate their company.

BORROWERS

Borrowers will be able to upload their own documents that are requested from them. A unique link will be provided to them, and they can use that link to access their documents. They can also upload documentation of their own and complete signatures to help with the progress of the deal.

CLOUD-BASED

The Bridge Loan Network software is fully cloud-based, meaning you don’t have to download any extra applications to your computer, and can access your portal anywhere you have an internet connection. 

DOCUMENT MANAGEMENT

Easily manage all the documents pertaining to your loans and deal scenarios. Keep track of deadlines, document expiration dates, and more directly through the software.

EFFICENT

Take your outdated manual process and automate it, turning it into an efficient workflow! No more jumping back and forth between folders and files. Every document you need will be available in one place with the simple click of a button.

FLEXIBILITY

Because the Bridge Loan Network software is cloud-based, all you need to access it is an internet connection. Access to software is flexible, and you only need the link and your login. It is also important to keep security in mind, so remember to only use secure and trusted internet connections.

GROWTH

Software solutions help your team to easily grow. Additional team members can be added on to your portal, and you still pay the same price. No matter how much your team may grow, your costs for the portal will remain the same.

HISTORY

Easily keep track of your borrower’s history with you, and their pertinent information needed for loan files. Know what deals they’ve been a part of in the past, what kind of deals they are generally interested in, and have their information on file for future loan files.

INTUITIVE

Bridge Loan Network’s software has an intuitive and familiar feel to it, allowing you to jump right into the software and get your business rolling. The team is always available for every step in the process if you ever need help.

JOINT APPLICATIONS

If more than one person is applying for the loan, our software can handle that. Easily add borrower and co-borrower information into the contact section in the portal.

KEY LENDING METRICS

See metrics such as loan-to-value ratios (LTV), credit scores, and more important lending metrics directly within the software. This can help you make important business decisions about the deals your company is working on. Know if it’s the right deal for you, or maybe you need to pass on this one and move on to other deals.

LOAN PROGRESS TOOLBAR

Never lose track of what stage your deals are at again. Easily see when deadlines are coming up, and the progress of your loan scenario with our loan progress toolbar, which can be customizable to your lending milestones.

MILESTONE EMAILS

Receive automated emails when major loan milestones are completed, as well as milestone being logged into the message board within the loan with time stamps.

NEW EMPLOYEE ONBOARDING

Incorporating the software into the new employee’s onboarding process can help ensure a smooth transition for your lending team. Set-up of their portal can be done in advance, allowing the new team member to log in on their first day and begin acquainting themselves with the software they will utilize daily.

ONE CLICK CREDIT/BACKGROUND CHECKS

Background and credit checks are as easy as one-click and can be done directly within the software! There will be no need for a separate program or software for credit and background checks when utilizing Bridge Loan Network’s software.

PARTNERSHIPS

We are proud to offer several partnerships to help make your life easier when it comes to closing deals successfully. We can offer assistance and resources with everything from appraisals, background reporting, and referrals.

QUICK LOAN PROCESSING

With Bridge Loan Network, you and your team can process your deals from application to closing, all in one convenient place. Including requesting all required documentation, reports, and client information.

REFERRAL PORTAL (Private Lender Link)

With Bridge Loan Network’s software, you have access to Private Lender Link’s Referral Portal. Receive feedback and lender recommendations for deal scenarios.

SECURE PAYMENT COLLECTION

Easily collect any fees and payments directly through the software with secure payment portals. No more jumping back and forth between manual documents and payment processing.

THIRD PARTY INTEGRATIONS

The Bridge Loan Network software offers open API capabilities, allowing for more integration of external systems, and helping control the flow of important information.

UNLIMITED DOCUMENT COLLECTION

There is no limit to how many documents can be saved to the Bridge Loan Network software. All the documents and information for all your loan scenarios and deals can be stored in one easy to access place and can be exported to your local drive when needed.

VIRTUAL CUSTOMER SUPPORT AND TRAINING

All the necessary training that you need to get up and running with the software is conducted virtually. If there are any questions that come up after the training, the support team is just a click away. Or you can reach out to the representative you had your demo or training with.

WHITE LABELED

Everything from the application to your portal can be branded to your company, including adding in your logo. Your brand identity remains consistent, and your clients won’t be confused about who they are working with!

X-PORTING CAPABILITIES

If you ever need (or want) to work outside of the software, you can export any of the documents or specific loan files to your computer. Exporting capabilities enable lenders to generate reports, share loan data, analyze loan data to identify trends, and make data driven decisions.

YES, IT IS SIMPLE

The Bridge Loan Network software is the easiest and simplest software you will use for your business! With virtual training, you’ll be able to jump right in and put in work that matters instead of wasting time in complicated systems.

ZERO TIME WASTED

Spend less time clicking around between files and deals and spend more time being productive while working on your deals! Less time on finding files means you aren’t wasting time that you could be using to make more money.

For more information about our Loan Management System and Loan Origination System, check out our website and request a demo today!

Don’t miss out on deals because of messy processes. 

Mortgage brokers play a crucial role in helping borrowers secure financing from private lenders in an ever-changing industry. To excel in this field, mortgage brokers need to stay informed and up to date with the latest trends, technology, and regulations. In this article, we will explore the benefits of continued education for mortgage brokers and provide tips on how brokers can engage in ongoing education and development.

The Benefits of Continued Education

Continuing education for mortgage brokers offers many benefits, including staying up to date with changing laws and regulations, improving knowledge and skills in the private lending industry, enhancing professionalism and credibility, and increasing marketability and competitiveness. Keeping education at the forefront demonstrates a commitment to professionalism and a willingness to learn and grow in the industry. This commitment can set mortgage brokers apart from their competitors and increase their reputation in the industry. By setting yourself up as a knowledge source on all things related to the real estate industry, lending, and more, you will be a preferred broker in the space for your clients.

Tips on Continued Education in the Private Lending Space

Mortgage brokers can pursue continued education through various methods, including attending industry events such as conferences, networking events, and seminars. These are great avenues for connecting with professionals in the space to not only grow your network but many of these events also host speaking and panel-style sessions to help educate folks on important matters in the industry, tips and tricks, and standard regulations. These events are imperative in keeping mortgage brokers knowledgeable and connected to the pulse of the industry. In addition to industry events, participating in webinars and online courses, reading industry publications and blogs, seeking out mentorship opportunities, and obtaining professional certifications and designations are great resources for continued education.

It is also important for mortgage brokers to stay up to date on the latest technology trends, which are rapidly changing the private lending industry. By staying informed about the latest trends, mortgage brokers can improve their operations and provide better service to their clients. Plus, many of the technology resources available have been created to help streamline the brokering process, so by staying up to date on these solutions, you will stay ahead of the curve from the competition.

The Importance of Staying Informed on Private Lending Trends

Staying informed about current trends in the private lending industry allows mortgage brokers to offer the best possible products and solutions to their clients, meet changing market demands, and adapt to new challenges. Economic, social, and technological factors can have a significant impact on the private lending industry, and mortgage brokers should stay informed and aware of the latest developments to remain competitive. Practicing continued education can help mortgage brokers incorporate innovative strategies and approaches with their private lending offerings, enabling brokers to differentiate themselves from competitors and better serve their clients.

Bridge Loan Network’s Loan Management System (LMS)

Bridge Loan Network offers a state-of-the-art Loan Management System (LMS) that enables mortgage brokers to streamline their operations, improve efficiency, and better serve their clients. The LMS is a web-based platform that allows mortgage brokers to manage loans, view real-time loan statuses, and communicate with borrowers and private lenders. The LMS also includes features such as document management, task management, and reporting. By using the LMS, mortgage brokers can save time and effort in managing their pipelines, which allows brokers to focus on building relationships with their clients and growing their businesses.

Overall, pursuing continued education is essential for mortgage brokers in the industry. It enables brokers to stay informed and up to date with the latest trends and regulations, improve brokers’ knowledge and skillsets, enhance professionalism and credibility, and increase marketability and competitiveness. Staying informed about the latest technology trends and incorporating innovative strategies and approaches can also set mortgage brokers apart from their competitors. Bridge Loan Network’s Loan Management System (LMS) offers valuable tools and resources to help mortgage brokers streamline their operations and better serve their clients. By pursuing continued education and using the latest tools and technology, mortgage brokers can stay ahead of the curve in the ever-changing private lending industry.

With spring officially here, a lot of people are shifting their focus to their spring-cleaning checklist. But cleaning out physical clutter isn’t the only cleaning that you should focus on. Now is a good time to go through your technology to clean up files, check account security, and get rid of some built-up dust, crumbs, and cobwebs.

Are there unused applications on your desktop?

Take some time to go through your applications and files. If there’s anything you haven’t used recently, now is the time to get rid of it. By getting rid of old files and applications, you can help your device run smoothly, and you’ll have space for more up to date and relevant files. If you aren’t sure where to start with your files, you can always sort them by date, size, or name to help you decide what to delete.

Do you know where your files are?

If you find that you are struggling to locate the files you need when you need them, take an afternoon to create folders and subfolders. By organizing your folders based on your workflows or categorized by tasks, it will be easier to find what you need. You could choose to group files by date, event, or file type (photos, videos, personal documents, work documents).

Are you up to date?

Do you remember the last time your computer had an update? If it’s been a while, it may be time to check for system updates. By keeping your software up to date, you can easily improve your device’s security and performance. If you haven’t already, now is a good time to enable automatic updates so you don’t need to worry about checking manually in the future.

Is there a layer of dust and crumbs?

It will only take a moment, but cleaning your computer, keyboard, and other hardware can prevent problems like overheating or sticky keyboard keys. Overall, cleaning hardware helps to maintain your device, ensures it runs smoothly, and helps to extend its life.

Have you backed up data recently?

Having a recent backup of your data is helpful in the event of hardware failure, theft, or human error. When backing up your data, it is a good idea to use multiple backup methods such as an external hard drive and cloud storage. You should also check your existing backups regularly to make sure the data is correctly backed up and you can restore it easily.

Are your accounts secure?

Have you updated your passwords recently? Do you have two-factor authentication turned on for accounts that have that feature? Updating passwords on a regular basis and turning on two-factor authentication is an easy way to protect your personal data from online threats. Be sure the new password is strong, unique to that account, and can’t be easily guessed by anyone else.

Have fun while cleaning and organizing your technology and prioritize proper data management and security to maintain the performance and functionality of all your devices. To assist in managing your lending files and making them easier to maintain and organize, you should check out Bridge Loan Network’s Loan Origination Software and Loan Management System. Happy tech tidying!

FOR IMMEDIATE RELEASE

Jacob Therrien Joins the American Association of Private Lender’s Ethics Committee

Vernon, CT (April 21, 2023) – Bridge Loan Network is pleased to announce the appointment of our Business Development Specialist, Jacob Therrien, to the Ethics Committee with The American Association of Private Lenders (AAPL). The American Association of Private Lenders is the national organization that represents the private lending industry, providing education and networking opportunities for its members.

The Ethics Committee is responsible for continuously evaluating AAPL’s Code of Ethics to ensure that it is clear, complete, and relevant to the private lending industry. The committee also provides guidance to AAPL’s members on best practices and writes articles and presents webinars to articulate a framework of practice.

“I am honored to join the Ethics Committee with The American Association of Private Lenders,” said Jacob Therrien. “My goal is to provide valuable insights for the Ethics Committee using my knowledge and experience working with Brokers and Lenders from a technology perspective. This is something I know the Committee plans to leverage, as data protection and security become more of a hot topic in our industry.”

AAPL’s Code of Ethics is a living, breathing document that must change with the times to protect the viability of the industry. The Ethics Committee is charged with ensuring that the Code does not unnecessarily burden members with impractical expectations. Additionally, the committee treats all potential Code of Ethics violations with the utmost care, consideration, and gravity, while also shielding members from parties who seek to use AAPL’s investigation process to harass or express dissatisfaction in an otherwise ethical outcome.

“For Bridge Loan Network, being part of the AAPL Ethics Committee is about being an advocate for conducting business in the most ethical way possible,” said Jacob Therrien, when speaking on what being appointed to the Ethics Committee means for our company, Bridge Loan Network. “We are proud to represent all that AAPL and its members stand for. The company, through our involvement and efforts on the Committee will speak on ethical dilemmas faced in our industry, create guidance, and best practices, and bring forward ideas on how to better our industry for the future.”

“For myself, being a member of the Ethics Committee is one the biggest accomplishments in my career thus far,” said Jacob Therrien, when speaking on what being appointed to the Ethics Committee means personally. “To now have a hand in this Committee directly by bringing my personal experiences and ideas is something I am extremely proud of.”

AAPL is the only national private lending organization with a publicly accessible complaint process. The organization’s Code of Ethics is a critical component of its mission to promote and maintain the highest ethical standards in the private lending industry.

“I understand the importance of ethical behavior in the private lending industry, and I look forward to working with my fellow committee members to ensure that our Code of Ethics is effective in maintaining the highest standards of professionalism,” said Jacob Therrien.

About AAPL

The American Association of Private Lender (AAPL) is the national organization that represents the private lending industry, providing education and networking opportunities for its members. The organization’s mission is to promote and maintain the highest ethical standards in the private lending industry. AAPL has a membership of over 4,000 private lenders and service providers nationwide.

About Bridge Loan Network

Bridge Loan Network is a leading loan origination software provider for private lenders. Bridge Loan Network is dedicated to providing the private lending industry with the technology and support necessary to streamline the loan origination process. The platform offers a suite of tools that enable private lenders to manage their loan pipeline, communicate with borrowers and brokers, and process loans more efficiently.

Contact:

Name: Erica Sikoski

Title: Marketing Manager

Phone: (860) 432-4895

Email: Erica@bridgeloannetwork.com

Loan Management Systems can be very helpful for broker’s processes and pipeline management. It is an important tool for your business, and there are certain features you should love when conducting your business in a Loan Management System.

Streamlining the loan process

Loan Management Systems can automate the loan application and origination process, allowing you to process more loans in less time. This can help your team to increase their loan volume and revenue. All your loan files and data will be in one place, meaning you spend less time organizing files and more time closing deals.

Managing your pipeline

Loan Management Systems can provide you with a dashboard that shows the status of all your loans. Monitor your loan pipeline and prioritize your work according to the status of each loan. A key feature in our Bridge Loan Network Loan Management System, is a loan progress toolbar that shows the status of your current loans. This allows you to see where in the loan process as specific deal is, helping you stay organized and on top of your workload.

Automating communication

Loan Management Systems can help automate communication with borrowers, sending out reminders and updates on loan status, payments due, and other important information. This can help you stay in touch with your borrowers and provide better customer service. Bridge Loan Network’s Loan Management System can also send you loan milestone emails, allowing you to stay on top of your lending timelines. You also have the ability to communicate securely with your client directly within the software through the message log.

Ability for integrations and partnerships

Optimize your lending practices and improve your bottom line through partnerships and integrations within your Loan Management System. With open API capabilities you can connect partnerships to the system, like Bridge Loan Network’s partnership with Private Lender Link, you can receive lender suggestions and scenario input from the PLL team directly into your Loan Management System portal.

Overall, Loan Management Systems can help brokers streamline their loan origination and management processes, increase their loan volume and revenue, and provide better customer service to their clients. Reach out to the Bridge Loan Network team for more information about how our Loan Management System (LMS) can help your brokerage today!