Fund provides real estate development financing to Lutheran Church congregations nationwide
Woodland Hills, CA – North Shore Systems, LLC, a leading provider of loan origination and processing systems for commercial real estate lenders and mortgage bankers, announced that Lutheran Church Extension Fund (LCEF) has contracted for a Web-based version of North Shore’s mortgage origination system.
With an annual loan origination volume of more than $180 million, St. Louis, Missouri-based LCEF provides low-interest financing to new and existing congregations nationwide to buy land and build or remodel ministry facilities, including churches, schools, day care centers and other projects.
Brian McCracken, North Shore president, said LCEF will use the web-based system to track congregation borrower information, forecast future loan needs, and increase loan administration effectiveness and efficiency. In addition, LCEF’s central office will use the system for overall capital needs planning and tracking.
According to Beverly Gregory, LCEF assistant vice president, “North Shore is providing us with a solution that combines Web-based technology with traditional client server technology, enabling us to use each where it works best. The web-based process and interface is streamlined for fast and efficient field management use while our national staff in St. Louis will benefit from the powerful, fast client server programs. This new system devised by North Shore replaces four existing origination and processing systems plus it connects everyone involved in the lending process, ultimately even including the borrower.”
Headquartered in Woodland Hills, California, North Shore Systems, LLC provides loan origination and processing systems to the commercial real estate lending and mortgage banking industry. The technology company’s primary product enables the efficient processing of commercial and construction loan transactions from internal or remote origination to closure and sale or securitization. Utilizing traditional and web-based technologies that allow all entities involved in the loan process to interact in real time, North Shore has helped lenders nationwide process over $10 billion in closed real estate transactions across a wide spectrum of lending programs and property types.