ISGN Corp., a provider of technology solutions and services to the mortgage industry, says that Prospect Mortgage, a Sherman Oaks, Calif.-based residential lender, has selected its TCL construction loan servicing product.
ISGN says the software system, developed specifically for servicing residential and commercial construction loans, manages all construction loan types from one automated system, allowing control of the end-to-end management of the entire loan lifecycle.
TCL immediately reduces processing costs and improves bottom-line results by mitigating risk, increasing efficiencies, increasing staff productivity and reducing timelines, the company adds.
"TCL gives us the ability to effectively manage our builder and renovation lending programs, handling everything from contractor management to disbursements," says John Sway, senior vice president and national renovation manager for Prospect Mortgage. "Bringing this functionality into one software program enables us to provide the contractor community with lending products that meet their needs and respond to the way their business works."