PRESS RELEASE
March 30, 2021
Contact: Mark Costa |info@lendingstandard.com (805) 336-5012

For Immediate Release

Regions Financial Corporation selects LendingStandard’s multifamily underwriting SaaS platform to reengineer HUD/FHA loan processes

Kansas City, Kansas  – Regions Financial Corporation selects LendingStandard’s leading-edge underwriting platform to standardize their FHA/HUD financing and enhance their efficiency, quality and loan process transparency.

“We are excited to work with one of the largest full-service providers of consumer and commercial banking in the nation, helping them to achieve real value by using our SaaS solution to underwrite multifamily loans. By creating transparency in every step of the loan, our platform will help Regions deliver timely and accurate solutions to their multifamily loan customers,” said Andy Kallenbach, CEO of LendingStandard.

Regions, one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services, began phasing in LendingStandard for newly engaged loans in 2020. For more than a year, Regions has benefitted from LendingStandard’s intuitive and centralized tool.

Launched in 2015, LendingStandard’s SaaS underwriting platform supports the needs of the largest lenders in the multifamily industry. The intuitive solution reduces costs and ensures regulatory compliance by optimizing commercial loan origination.

“Everybody knows where to go – and really, that’s LendingStandard – to complete 99% of what we need to accomplish for a HUD application,” said Stephen Chasteen, managing director and FHA/HUD platform manager with Regions.

Underwriters at Regions found it difficult to manage their pipeline and keep track of each deal’s progress. Their efforts and service were hampered by a decentralized system of models and forms, many of which were manually built. Their objective was to find a single technology provider that would give them the efficiency and tools they needed to be competitive.

As Chasteen’s team became “busier than we ever have been” with counter-cyclical HUD investing, LendingStandard continually made improvements – both small and large – to the platform that further supported the underwriting process.

LendingStandard has “created better processes within our HUD platform,” said Chasteen. The most significant positive change Chasteen has seen so far is increased consistency across all deals in the pipeline, from automated document assembly to a checklist that tracks every vital step in the loan process.

“Just having everything in one place, it’s a lot easier to keep track of what everybody’s working on,” Chasteen said. “That efficiency has only been made possible through working with LendingStandard.”

About LendingStandard

Founded in Kansas City, Kansas in 2015, LendingStandard provides a scalable solution to the pain points in the multifamily loan application process. LendingStandard’s intuitive platform reduces costs and ensures regulatory compliance by optimizing commercial loan origination – ultimately reducing errors, improving efficiencies and keeping projects on track. Learn more at lendingstandard.com.