IceCap Group

About Client

The Client is one of the largest private money lenders in the US, providing short term loans for the purchase, renovation, and construction of single, multifamily, and mixed-use real estate.

Money Lender Organization

Business Scenario

The client is using Salesforce for their business operations. In the current setup there is a disconnect between the processes by which brokers request loans for their clients. The client was losing a significant amount of time in loan disbursement of the brokers clients, some of the pain points they were experiencing:

  • Access to critical information like Lates rate and pricing for Brokers and Borrowers.
  • Lack of flexibility for borrowers to manage their information.

Astrea IT Approach

Astrea IT worked with client’s stakeholders to strategize in building a portal for brokers. It allows brokers to request for loans by providing the property details of the client and loan amount requested. The portal was built using LWC and Experience Cloud.

Astrea IT team developed the following portal features during the course of the project:

  • API callouts to fetch latest rate and pricing from the information given by the broker to choose best rate for the borrower
  • Through the portal, brokers can provide information for a single property as well as multiple properties along with selecting the term as well
  • Borrowers can login into the application through a link provided into the mail and review and sign the application.
  • When all borrowers sign the application then after submission, opportunity has been created to use for further process by the broker as well as the sales team.
  • Through the portal, brokers can also submit the required documents related to the borrower which will be verified by the sales team after submission.
  • Brokers can see the live status of the opportunity and can communicate with the borrower.

The underwriting agent receives details related to the loan requests submitted, and has the authority to approve and reject the loan request based on set criteria. This decision is communicated to the broker in the Salesforce Community.

Outcome

Astrea IT team did a comprehensive overhaul of client’s Salesforce instance which results in following benefits:

  • Portal allowed ease of information capture and sharing
  • Reduce considerable time in getting critical information
  • Enhanced Salesforce security
  • Seamless Data management

Technologies/Tools

Custom And Standard Objects/Fields, Experience Cloud, Dynamic Forms, Aura Component, Visualforce Page, Apex, Flow Builder, Validation Rules, Approval Process

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