ISGN Corporation has announced that it has released its latest LoanMomentum construction loan servicing system borrower portal, providing borrowers with loan-level insight through a more intuitive user interface and workflow design. ISGN’s LoanMomentum is a software system developed for the new demands of servicing residential and commercial construction loans. LoanMomentum’s borrower portal provides online access to loan information includingtransaction history, billing history, sources of funds detail and loan budget status, all within a more seamless dashboard that can be accessed anytime, anywhere.
Borrowers can also initiate requests for loan draws, new loan/new starts, inspection information, budget change orders and update contact information. Automatic email notifications are available for borrowers regarding billings and draw requests, as well as notifications for builders/contractors regarding dual approved draws. Not only will borrowers have more control, but providing them with online access to their loan information helps reduce calls and faxes into the servicer’s customer service call center.
“The construction market is making a gradual comeback. In fact, markets in 75 of the approximately 360 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in Q2 2015 according to the latest National Association of Home Builders/First American Leading Markets Index (LMI),” said Don Gaspar, CTO for ISGN. “However, to capitalize on these tailwinds, construction lenders and servicers must keep pace with borrowers’ demands for convenient, informative dashboards they can access online. LoanMomentum’s enhanced borrower portal provides borrowers with complete control over their loan information, which will help improve customer service while increasing efficiencies—giving construction lenders and servicers a distinct competitive edge in a growing market.”
