One of the most important aspects of my job is keeping up with trends in the industries we’re involved in -- not only lending, but construction, software and technology, as well. And the end of the year brings us a great time to look at what’s coming next, to see what trends we should expect in the coming months.
Here at Built, we’re passionate about the work we’re doing. Just watch Chase Gilbert talk about the pains our construction lenders feel on a day-to-day basis and you’ll see how much he cares. And at times we can get a bit extreme. We’ve been known to throw the phrase “Death to spreadsheets” around the office.
Yes, in our digitally connected age, most of your borrowers will be technologically savvy and aware of the dangers online communications pose in potentially putting their personal information at risk. Some of your borrowers, however, still might not be aware of these risks and how to mitigate them, or might not be aware of which types of information should be considered sensitive. Whether they know it or not, can you guarantee your clients' security throughout the construction loan process?
What differentiates one construction lender from another? In this highly competitive industry, borrowers and builders have plenty of options. Many are taught to look for differences in costs – but rates remain fairly standard from one lender to the next. What makes the difference is the ease of access and overall quality of customer service one lender can offer over the other.
Topics: Construction Lending