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Streamlining Loan Processes

Streamlining Loan Processes

Use case

Applications

Industry

Finance

Stacker for

Business

Julian Zimmerman

Operations Manager

Groundfloor is a real estate lending market place, they bring together individual investors looking for short-term lending investments and borrowers looking for short-term financing for their specific real estate projects. Groundfloor's loan processing team utilizes Stacker to help streamline their loan processes and eliminate miscommunication between the loan processing team and the applicant.


Before integrating Stacker into their operations, Groundfloor encountered challenges with scattered data management and sluggish loan processing. Julian says, "We were relying on various sites and software tools to manage data, documents, and loan workflows that resulted in miscommunication and delays". Responding to borrowers and resolving loan issues was a cumbersome, manual process prone to errors. Any oversight necessitated restarting the process, leading to inefficiencies and frustration.





"This streamlined workflow accelerated the loan processing cycle, with Stacker we were able to cut down on time wasted when handling loan resubmissions"



Julian Zimmerman

Operations Manager




This led Julian to find a better solution. She needed a way they could adapt processes and change software configurations when needed. Previously, they depended on engineers for modifications, which often led to time-consuming delays. In an industry where agility is paramount, such interruptions in business processes resulted in costly delays.


Groundfloor adopted Stacker because it allowed them transparency, streamlined communication, and flexibility in process management. By consolidating their operations into a single platform, Stacker provided a unified location for all business-related data and processes across departments. "Stacker offers us the flexibility to make changes quickly, which is crucial in a industry that has ever changing requirements" Julian says.


Through Stacker, loan submissions could be efficiently routed to the appropriate teams for review. Reviewers could easily leave notes regarding documents within the platform, allowing borrowers to quickly address any required revisions without the need for prolonged phone calls or manual intervention.


The transparency allows for easy reporting and pulling sales numbers, while also allowed for the ability to limit who can view specific details. "Our executives can see reports without asking for reports from staff members" Julian says. With all pertinent information centralized within Stacker, accessing critical data, reviewing loan applications, and facilitating client interactions became notably more efficient and straightforward.

How they use Stacker

Applicants login to portal

Applicants and loan officers login to portal

Applications are submitted

Loan application forms are completed within Stacker's forms interface. Applicants can check the status of their application as they wait for review.

Loan officers review applications

Loan officers review the applications leaving revisions. This eliminates the back and forth of emails and provides a place applicants can see exactly what is missing without a middle man. This helps to streamline how they process applications.

Applicants login to portal

Applicants and loan officers login to portal

Applications are submitted

Loan application forms are completed within Stacker's forms interface. Applicants can check the status of their application as they wait for review.

Loan officers review applications

Loan officers review the applications leaving revisions. This eliminates the back and forth of emails and provides a place applicants can see exactly what is missing without a middle man. This helps to streamline how they process applications.

Create software that fits you perfectly

Create software that fits you perfectly