As I've said before, in different words, our development is driven by the basic convictions that (1) the potential of the internet in increasing the efficiency of commercial mortgage loan origination simply has not been harnessed effectively; (2) that this potential is very great, and that (3) one can only figure out how to fully harness this potential by listening to the people that will use the tool.
Now, a matching/submission tool is probably the most obvious thing the internet can potentially do well for the commercial mortgage industry. At present our primary focus is developing such a commercial loan matching/submission tool that is truly versatile and sophisticated enough that, first, commercial lenders don't feel as if they have to compromise when entering the information concerning their products, and second, the results of the matching process are precise enough that our matches are ACTUAL matches. In other words, a lender only receives proposals he would follow up on is he were interviewing the broker/borrower himself.
On the one hand, we want to eliminate the situation in which a commercial lender says, for example: "Well, we don't really have X, so I'll have to put in Y there instead." We want to allow lenders to be as specific as they want to be, but also have the latitude to be general in their representation as well. You should to be able to choose how big or small a net you want to cast, even if there is only a very, very particular and elusive type of fish you want to catch. To continue the metaphor, there are as many types of fish as there are commercial mortgage loans, and as many types of fishing boats as there are lenders. So the process of developing a good matching tool is inherently one of compromise. And we'll only be able to learn where to compromise and where it's crucial we don't by listening to all of our clients.
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