The challenge
Complex deals involve many moving parts, a lot of documents, and multiple stakeholders who all need to be on the same page about where the closing checklist stands. Fulfillment of lender requests often misses timelines because of the intricate workflows on a deal, and it can be difficult to stay current on documents like rent rolls and estoppel letters across every party.
FRB Capital had ambitious growth plans and wanted to scale their closing process without adding costs, while giving borrowers and lenders an exceptional closing experience.
How they used Prodeal
FRB Capital chose Prodeal to replace Microsoft SharePoint for internal deal document management. They quickly used it to share documents outside the firewall and to run real-time closing checklist update calls with borrowers and lenders.
The interface was simple enough that FRB staff and their deal parties adopted it quickly.
