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Top Nashville FinTech teams with Pennsylvania Bank to enhance construction lending capabilities.

We kicked off the year with a list of the top trends and predictions slated to hit the nation’s housing and construction industries throughout 2018. Driven substantially by a strong economy, increased housing demands, and a lack of inventory, this year was expected to see exponential growth within both the housing and construction industries.

Nashville, TN, McMinnville, TN – July 31, 2018 – First National Bank of Middle Tennessee (FNBMT) has a new construction lending experience after implementing Built Technologies for loan administration. Built is a national company, also headquartered in Tennessee, that provides a digital platform that simplifies loan management for banks and borrowers.

As a technology company, we love to create software solutions to solve everyday problems. It’s in our DNA and arguably the reason many of us come to work every day. That means we’re always hard at work building features to make life easier for our clients and partners.

The top 1% rated portfolio lender leads with commitment to quality and borrower experience through technology.

WASHINGTON — The American Bankers Association today announced its endorsement of a construction lending platform provided by Built Technologies, a Nashville-based fintech company. The technology offered by Built reduces the cost of servicing and transforms the user experience on residential and commercial construction loans by connecting the borrower, builder, inspector and lender through an online platform.

The traditional construction loan administration process requires loan administrators to manually gather portfolio data from various spreadsheets and paper files when assembling reports. Without digitization, this highly manual and inefficient process can cost credit departments days, or in some cases weeks, of valuable time, and as a result, many financial institutions only review comprehensive portfolio data when deemed completely necessary.

The long-running narrative on Millennials has been that they are living in their parent’s basements, too crippled by debt and low-paying jobs to afford to live on their own. Quickly, though, that story is changing.

The real value in digitization is the data modern technology can unlock.

Tell me if you’ve heard this story before: a chief lending officer or chief credit officer is asked to report on the overall health of their construction loan portfolio -- best producing team members or loans, under-performing elements, effectiveness of the draw process, or some other key performance metrics.