- Construction-to-permanent loans
- Renovation loans
- Superior customer service
- Excellent visibility for stakeholders
- Expand construction loan portfolio
Land Gorilla Solutions:
- Draw management software
- OneSite app
- Inspections / Title Updates
- 101% YoY growth in loan volume
- 99% builder satisfaction rating
- Fast draw turn times even with increasing volume
Draw processing satisfaction rating from their builders is at 99%
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Churchill Mortgage is one of the nation’s highly recognized full service independent mortgage lenders. Churchill’s beginnings into construction loans stemmed from a surge in requests coming to its sales staff. The absence of an in-house product for construction loans prompted the executive team to explore viable programs. Churchill’s focus was on their customer experience by providing great construction products with exceptional service. With a keen understanding of the potential risks of not having a comprehensive solution, Churchill identified the need for a partner to assist in managing the complex processes associated with construction loans. This led to the pivotal decision to bring Land Gorilla on board, a move driven by the desire to have better oversight and control over the construction loan process.
Choosing Land Gorilla:
The Decision-Making Process
Land Gorilla emerged as the natural choice for Churchill, providing a suite of features and capabilities that addressed the specific needs the Churchill team was looking for in a technology partner. Churchill recognized the unique construction loan management functionality offered by Land Gorilla, which was distinct from previous experiences with other vendors. Dana Solberg, Director of Construction Finance with Churchill Mortgage, affirmed that previous experiences with other vendors had been marred by challenges and complexities, making it evident that Land Gorilla held a distinct advantage. The efficiency of Land Gorilla’s software for draw management, coupled with the exclusive interest statement functionality, presented significant advantages for Churchill.
Solberg shared that “Land Gorilla was a guiding light for implementing a construction loan management system at Churchill and bringing everybody on the same page to understanding draw management processes.”
Loan Program Growth and Success
At the time of this case study, Churchill’s year over year growth rate averaged 101%. Solberg shared that during an industry slowdown in loan volume, they experienced their busiest season of closing. She explained that it was “great to see and that their volume still continues to grow, even during a season of slower closing times.” Solberg praised the draw management capability and its facilitation of streamlined processes. According to Solberg, “Land Gorilla makes it easy to expand. I could keep going at this rate and even an increased rate for a while. It doesn’t correlate to manpower directly. I can take on a lot more loans before we need another me.”
Land Gorilla enabled remarkable growth at Churchill, resulting in the expansion of their construction loan portfolio. As Solberg stated, their partnership with Land Gorilla has allowed them to broaden their construction portfolio, opening different single-close construction and renovation programs. Solberg commented, “Without Land Gorilla, we would not have been able to release as many new construction products this last year as we have. If I had the draw management and all of the pieces that Land Gorilla assists with on my plate on top of setting up new products, it wouldn’t have happened at this rate.”
Leveraging Land Gorilla Services
Churchill embraced a spectrum of Land Gorilla services, in addition to its technology solutions, including integrated builder reviews, project feasibility reports, draw support services, and inspections. The extensive range of services provided by Land Gorilla solidified its position as a vital component of Churchill’s construction loan operations.
Detecting potential issues early before the closing is crucial for risk mitigation. Solberg highlighted the undeniable value derived from Land Gorilla’s meticulous project feasibility reports, which surpassed the industry’s traditional checkbox approach and demonstrated exceptional quality. “I love that the feasibility reports are more comprehensive compared to reports I’ve had in the past.” Solberg continued to say, “It definitely cut the risk, from a lending standpoint, to have such a thorough feasibility report.” Solberg confirmed that past encounters with other companies were faced with difficulties and complexities, highlighting the clear advantage that Land Gorilla possesses.
Churchill draw request volume increased 9% quarter of over quarter yet draw turn times reduced by 10% quarter over quarter.
Draw Support Services
Along with the pre-close services, Churchill enlisted the assistance of Land Gorilla draw support services. Utilizing these services meant to Solberg that “I’m not in there every day having to talk to the builders and talk to the borrowers to explain just common pieces, which honestly frees up my time to be helping with any escalated matters and help the sales staff when needed.” Churchill’s draw request volume increased 9% quarter over quarter yet draw turn times reduced by 10% quarter over quarter. Solberg emphasized that she trusted the Land Gorilla draw team and so did Churchill’s builders. Churchill’s draw processing satisfaction rating from their builders is at 99%.
Another feature Churchill utilizes are Land Gorilla inspection services. Inspection reports are received on average in less than 48 hours, leading to quicker payments that strengthens relationships with Churchill’s builders and contractors. “It’s so quick,” Solberg shared. She continued to describe scenarios when an inspector is unable to perform the inspection, Land Gorilla is quick to offer solutions such as remote inspections or quickly contacting other local inspectors from its database for alternative inspectors.
The adoption of Land Gorilla’s OneSite application has been well received by Churchill’s borrowers and builders. According to Solberg, “the feedback has been positive. Our borrowers and builders love the visibility OneSite provides and it’s easy for them to see the status of their draw requests.” She provided an example of an investor who stated that they live far from the investment property and loves being able to log onto OneSite to monitor the progress of construction without having to cause friction with the builder with constant check-ups. Solberg believes that OneSite aids the quick draw turn times that keeps their customers happy.
The Road Ahead: Expanding Horizons and Striving for Excellence
Looking ahead, Churchill aims to concentrate on perfecting its processes and reinforcing its reputation as a top-tier construction lender. With a solid foundation established by the partnership with Land Gorilla, Churchill anticipates focusing on demonstrating consistency and reliability in the industry. As the company expands its footprint within the construction lending market, the unwavering support and comprehensive services provided by Land Gorilla will continue to be a cornerstone of Churchill’s success.
Churchill’s success underscores the transformative potential of cutting-edge solutions in carving a unique niche in the competitive mortgage landscape. The efficiencies gained, time saved, and the impressive growth realized are emblematic of a partnership that seamlessly aligns with organizational objectives and strategic imperatives. As Churchill looks toward the future, this collaboration serves as a blueprint for industry players seeking to augment their capabilities and propel their trajectory toward sustained success.