GoDocs, which has software that it claims reduces the loan document process to "minutes," announced a new version for commercial and industrial (C&I) loans, called C&IDocs.
Last summer the company was making the argument that document automation could increase efficiency in one part of the lending process and that could help close deals as rising interest rates would have an impact on multifamily in particular. It was still early in the Fed's march of rate hikes. At this point, it isn't clear that a somewhat faster loan process would add enough efficiency to be significant in the face of current financing costs and tightening lender requirements, including significantly reduced leverage.
That said, if document preparation could be handled faster without problems (not necessarily a given depending on the technology), it might help deals close faster, which can have strategic benefits.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
