Don't be the company that loses millions due to disorganization. Centralizing loan data is crucial, especially in today's mobile environment and technological advances happening at breakneck speed. With centralized data, you have instant access to all critical information, reducing the risk of costly mistakes. Here's a real example: A firm asked an analyst to calculate a defeasance penalty using an online calculator. The analyst, working remotely without access to the loan docs, made assumptions and underestimated the prepayment penalty by $1.3mm. The sale fell through, the deal went into litigation, and the analyst was laid off. Centralize your data to ensure accuracy and efficiency, no matter where you're working. https://hubs.li/Q02FtP_60
LoanBoss
Real Estate
Charlotte, North Carolina 690 followers
Real Estate's #1 Loan Management Platform
About us
At LoanBoss, we are pioneering a new way of managing your Commercial and MultiFamily Loans; integrating debt into your analysis and decision-making. By removing repetitive, manual steps, you get faster answers to your most pressing loan-related questions. Your debt is the most expensive cost center you’re not thinking about. We can help!
- Website
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https://www.loanboss.com/loan-management-software
External link for LoanBoss
- Industry
- Real Estate
- Company size
- 51-200 employees
- Headquarters
- Charlotte, North Carolina
- Type
- Privately Held
- Founded
- 2019
- Specialties
- Commercial Real Estate, Centralized Portfolio Management, Interest Rate Analysis, Collaboration, Debt Management, and Automates Complex Calculations
Locations
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Primary
1425 W Morehead St
#170
Charlotte, North Carolina 28208, US
Employees at LoanBoss
Updates
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Why do you need automation? Automation saves time and reduces human errors. Manual inputs are time-consuming and prone to mistakes. Some studies suggest up to 90% of Excel worksheets contain errors in them. Automation ensures processes are quick, easy, and accurate. Here's a real example: A broker was asked to calculate yield maintenance for a loan. The initial estimate was $1.6mm, but our automated process calculated $2.2mm—a $600k difference! The error was due to a manual input mistake. The amortization period was incorrectly entered, leading to a huge underestimation. Every manual input field is a potential error. Automating these processes saves time and ensures accuracy. Gain peace of mind with automation. https://hubs.li/Q02FtHq_0
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How forgetful are you? Well it’s not just you, our attention spans have decreased significantly since the year 2000. Some studies suggest the human attention span is just 8.25 seconds (a goldfish has an attention span of 9 seconds), thanks TikTok! Missing deadlines can be a big deal, especially for commercial real estate pros. Our automated notifications ensure nothing slips through the cracks. Set it and forget it! Here’s a real example: A borrower missed a loan deadline, begged the lender for an extension and received it! Only for the borrower to miss it again, nearly defaulting on a $5mm loan. Automation can save you from embarrassing situations like missing critical loan deadlines. With LoanBoss, our date-based reminders and alerts keep your team proactive and error-free. Focus on what matters most and let automation handle the rest. https://lnkd.in/eut7eZwj
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Our team is looking forward to day 2 of Realcomm Events!
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We're attending Realcomm Events 2024 in Tampa June 20-21, the top event for automated business solutions and smart building technologies in commercial real estate. This year's theme, "Beyond the Hype: Business-Driven Technology Strategies for a Shifting CRE Market," focuses on aligning tech strategies with business goals. We're so excited check out the AI and other innovative solutions that will continue to reshape our industry. Stay tuned for updates from the conference!
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We know this is top of mind for a lot of folks: Chicago’s downtown area is undergoing significant changes, driven by a mix of challenges and innovative solutions. Here are some key data points: - Office Vacancy Rate: Chicago’s office vacancy rate has risen to 16.3%, compared to the national average of 13.8%. - Commercial Property Values: Some downtown buildings have sold for less than a quarter of their previous valuations. - Subsidy Initiative: The city has committed $150M to convert four vacant office buildings into 1,000 apartments as part of a broader $1.25B bond for affordable housing and CBD development. These figures highlight a critical shift in how urban spaces are being utilized and reimagined. Chicago’s bold approach to converting office spaces into residential units could set a precedent for other cities facing similar challenges. #LBTrendWatch #UrbanDevelopment #EconomicGrowth #RealEstateTrends
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We're heading to Realcomm Events 2024 in Tampa next month! This event is a LoanBoss favorite and always a fantastic opportunity to connect with industry peers and explore the latest trends in commercial real estate technology! Hope to see you there! #CREtech #CRE
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Our founder JP Conklin on stage at the CBRE Multifamily conference in Austin!
Thanks to our panelists JP Conklin, Dr. Chlump Chatkupt, Sok Muong, Marc Rutzen and host Bryan Doyle, who provided their insights on how AI is impacting the multifamily industry. #CBREMultifamilySummit
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Building in the Trenches The NFL draft saw a record breaking number of quarterbacks in the first round, with 6 out of the first 12 picks going QB. While star QB’s will always snag headlines, the hit rate for that position is notoriously low - just 46% of the time a first round QB signs a second contract with the same team. Time and time again, the most successful teams seem start in the trenches and not through the skill positions. Offensive line have a hit rate of about 70%, while centers have the single highest hit rate - 92%.Software bells and whistles might provide for a more colorful highlight reel, but none of that matters without the basic blocking and tackling. LoanBoss establishes a foundation for your data. We abstract over 300 fields from your loan documents. We have the best cashflows in the industry. We incorporate live interest rates and automate every calculation you can think of, even those pesky lender adjusted DSCR calcs. Let’s work together to build a successful team together. We’ll work in the trenches so you can be one the star QBs that makes it big.
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LoanBoss reposted this
Pensford and LoanBoss are headed to the CBRE 2024 Multifamily Summit in Austin next week! We are especially excited to hear from Julia Coronado of MacroPolicy Perspectives LLC! If you're in Austin and want to connect, let us know! JP Conklin Joe Long Daniel Roehl