Depending on who you talk to, commercial lending is either predicted to see phenomenal growth over the next few years or potentially face a drought. The fact is that commercial lending in the U.S. has already surpassed the previous historical peak achieved just before the real estate bust in 2008, when total commercial loans dropped from USD 1,575 billion in October 2008 to USD 1,184 billion two years later. In November 2016, commercial lending has exceeded USD 2.1 Trillion and in 2015, total loans grew 2.72 times faster than GDP.
With the augmenting growth in commercial and construction lending, a loan origination system is a critical component for the lending process. In the wake of the technological upsurge and regulatory uncertainty, it becomes pertinent that banks and financial institutions look at upgrading their origination process. For complex loans like C&I or construction loans, this is more important than ever.