In July 2017 Fernando & Scott contacted us. They already had an MVP version of the app and were willing to make it more reliable and convenient for the users.
Our team was asked to bring expertise in React development. Along with Fernando and Scott (team-lead), there was one more team from Argentina running the project. Our task was to work on the most complicated architectural issues of the front-end.
Is an online commercial mortgage marketplace that connects borrowers to a vast network of lenders, including banks, credit unions, agency, CMBS, and lifeco correspondents, SBA lenders, bridge and hard money lenders, and other lending institutions to secure commercial real estate loans.
- bringing React/Redux expertise to the project. Core team had no experience with React/Redux in production apps. During development, they needed to use the best practices and implement the project faster.
- solving the most complicated front-end tasks. We created the main dashboard with a variation of reusable app blocks. And added universal instruments for data loading/saving and reuse it in all apps.
- leading and managing some of the work that involved other vendors. At some point in time, the client asked our team lead also to manage another vendor’s team from Argentina.
We launched two client apps and one back-office app:
During the process of receiving a commercial mortgage, it’s required to provide a lot of information, such as personal data, details about a desired type of property, and financial state.
So it was important to make the registration process convenient and intelligible. There are implemented 5 stages of registration. Each step requires only the most important information for the loan. Such division helps users to go through the process smoothly step by step.
After fulfilling 4 steps of registration, the program automatically provides a user with options of loan programs. These programs are based on the information previously provided by the borrower.
This is one of the central elements of the app. It’s the place where all the information about the loan is displayed. There are implemented different options on this panel that allows users:
- to check or edit all previously added information about requested loan
- to track tasks and the following activity that should be done to receive convenient terms of the loan
- to monitor all current changes and other users activities
This page allows users to overview all provided information and make changes in it. As the future location of the property is of great importance, we implemented the feature that displays the location on Google map.
Here it’s possible to review all received proposals that fit user’s indicated requirements. Users can also examine the summary of every lender and their activity to be able to make the right decision.
As borrowers use Raisal for getting the most suitable options of a loan, there must be users, who can provide the choice. That’s why we made it possible and secure for lenders to participate in an online mortgage and get new efficient relationships.
Benefits for Lenders:
Provided opportunities are based on predefined criteria
Improved Loan Quality
Every deal is screened to ensure that it’s real and meets lenders’ standard.
They help to keep lenders on track and catch every new opportunity
Cashflow & Affordability
Loan calculator conducts an affordability analysis, automatically determines the debt service coverage ratio and evaluates cash flow potential
Customer acquisition costs are reduced as Raisal works like a lender’s outsourced loan originator, only without the overhead and employee costs
With Raisal Lender Network it’s easy to expand borrower relationships. There are 3 main steps:
- creating a Custom Profile
- receiving qualifies loan requests
- building new relationships
At the upper part of the page, Lenders can review the line of opportunities. Each opportunity is in progress at a different stage, that’s why they are displayed in different colors. Below there is a list with more detailed information about all opportunities. It also lets users look through all predefined information and track tasks.
This page allows reviewing proposals that can be selected by loan size, location, and property type. It lets lenders search for a particular proposal, filter and sort them by defined criteria. It’s also possible to examine every piece of information and decide whether it matches the requirements.
This is the place where Lenders can review current statuses of different opportunities and make modifications.
- View counter offer - Yellow - potential borrowers, who have just sent a counter offer.
- View withdraw - Red - borrowers, who have withdrawn from the proposal.
- View revisions - Blue - review the list of borrowers who have made revisions to their proposal.
- View approval - Green - borrowers who approved the proposal.
We used Scrum model during the work and had:
- Weekly sprints
- Daily planning and retrospective meetings, frequent demos
- Google Meet for video-calls
- Slack for communication
- GitHub and hosting code.
CTO at Raisal.com
"ProductCrafters worked well with our internal team and were very good at adjusting to our work style. Their founder really drove the team. They had a keen eye for detail and were very solution oriented. They were also able to lead and manage some of the work that involved other vendors.
They thought holistically about solutions and brought up all-encompassing ideas. They actually thought about design and potential problems, so that we could avoid them in the future."
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