Eastern Union Develops Exclusive Technology That Identifies the Banks Offering the Best Rates and Terms on Commercial Real Estate Mortgages
NEW YORK, April 21, 2021 / PRNewswire / – Eastern Union, one of the largest commercial real estate agents in America, has introduced a new lender search technology that improves the company’s ability to provide owners and other customers with a complete picture of lender options for potential transactions anywhere in the world The United States.
Ira Zlotowitz is President and Co-Founder of Eastern Union.
Asher Samberg is vice president of data and technology in the QTS Banking and Capital Markets Division of Eastern Union.
Using a proprietary technology called “AskQTS,” which harnesses the power of artificial intelligence and machine learning, brokers can identify specific banks that may be interested in virtually any specific commercial real estate business around the world The United Statesalong with the projected interest rates and terms that these banks would offer.
Eastern Union’s AskQTS initiative is led by Asher Samberg, Vice President, Data and Technology, QTS Banking and Capital Markets Division of Eastern Union. Mr. Samberg reports to Jacob Lipoff, the managing director of the division. “QTS” stands for quotation marks and term sheets.
As Eastern Union’s national presence grows and the brokerage workforce grows, AskQTS is becoming an increasingly powerful tool to meet the funding needs of owners considering investing in local locations The United States.
In addition, AskQTS becomes “smarter” over time. As technology ingests more and more data, it can better determine appropriate lenders and interest rates.
AskQTS technology is easy for brokers to use. When entering the address of a property of interest, AskQTS responds by identifying specific lenders likely to fund the asset as well as the likely interest rates. Because of its machine learning capabilities, the technology provides increasingly precise answers as the system collects more and more data.
“A broker’s greatest competitive advantage is in the form of data,” said the company’s co-founder and president Ira Zlotowitz. “By empowering brokers to leverage lender information, they can find the best rates and terms available.
“Eastern Union now enables brokers to specifically identify the universe of potentially interested lenders for a deal,” said Zlotowitz. “AskQTS offers our customers a strong competitive advantage. Our brokers can now offer a level of service that is unparalleled in the commercial real estate market.”
“”Asher Samberg has been instrumental in developing a unique technology that will benefit owners and investors across the country, “said Lipoff.” AskQTS brings together multiple streams of information to help owners find the best credit sources and terms for a wide range of locations. Finding the right lender just got easier – and this technology just keeps getting smarter. “
AskQTS summarizes at least four data flows: Firstly, public data is retrieved from which it can be seen which banks complete transactions in certain areas. Second, the system takes into account the lending criteria that Eastern Union continually receives from a variety of banks and lenders. Third, AskQTS contains lending information that is shared across the company’s wide range of Slack channels.
The fourth and most valuable flow of data comes from the thousands of interest rate quotes Eastern Union receives each month from more than 400 lenders across the country.
“Eastern Union is focused on finding the best lenders and the best possible rates for our customers,” said Samberg. “Eastern Union is committed to owners’ business success. This dynamic new resource will help owners make better and better investment decisions.”
About Eastern Union
Eastern Union, founded in 2001, is a leading national commercial mortgage brokerage company. It employs more than 125 real estate professionals and closes on average $ 5 billion in transactions annually.
Eastern Union leverages its lender relationships and market knowledge to secure the best rates and terms available. Eastern Union headquartered in new York, completes transactions of all sizes The United States. It secures funding for all types of assets. Transactions – which can include portfolios with multiple states and locations – encompass both conventional and structured finance. In 2020, Eastern Union’s multi-family group reset market prices by offering a quarter point fee with no back-end fees for refinancing properties backed by Fannie Mae or Freddie Mac. Capital injections will be handled through Eastern Union’s subsidiary, Eastern Equity Advisors.
Eastern Union’s free eCALC app helps investors rate and draw deals instantly.
More information is available at www.easternunion.com
Media contact:
Steve Vitoff
516 652 0785
[email protected]
SOURCE Eastern Union
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