Arbor Commercial Mortgage has created an online loan-origination service for multifamily lenders.
The Arbor LoanExpress product, also called ALEX, will let direct borrowers, brokers and correspondent lenders obtain evaluation for multifamily loans and use electronic signatures for certain forms, according to a Wednesday news release.
The features include online and automated application creation and forms submission; loan evaluations in three hours or less and feedback from a loan officer; live help chat; and Fannie Mae and Freddie Mac approval of e-signatures.
Fannie and Freddie both have endorsed the product.
