Fair Isaac's ScoreNet Portal Introduced for Construction Lending Industry

Fair Isaac Corporation, the leading provider of analytics and decision management technology, today introduced its ScoreNet® Construction Borrower Portal, a new ScoreNet service designed to help construction lenders improve workflow efficiencies and customer care by offering borrowers real-time access to their loan information and tools to self-manage their portfolio.

The Construction Borrower Portal is tightly integrated with Fair Isaac's TCL™ software system (The Construction Lender), the most widely used construction lending solution for the servicing of residential and commercial loans in the U.S. Fair Isaac's ScoreNet network enables the electronic exchange of data between the TCL system and the various service providers used throughout the construction process, providing lenders with the ability to manage all property transactions via the Web.

By using the portal, existing TCL clients and lending institutions can significantly cut call center queries and administrative workload by allowing borrowers to quickly and easily access their loan information, make payments for loan receivables, submit requests for progress inspections, loan draws and budget modifications, provide borrower information updates and more. In addition to providing construction lenders with a Web presence and unprecedented levels of customer service, the portal gives them a valuable marketing channel for cross-sell and up-sell communications to grow their loan portfolios.

Source Construction Capital, a Minneapolis/St. Paul based non-bank, finance company specializing in the financing of residential construction and land development projects, is the fourth lender to select the new portal. The TCL system user plans to reduce the number of calls into its call center and further streamline its construction lending processes.

"We chose Fair Isaac's new Construction Borrower Portal to provide our customers with the same robust online loan and account management features and high-level customer service they have come to expect from their regular banking partners," said Pat Hiller, Chief Financial Officer at Source Construction Capital. "Our company is built on the philosophy of using advanced technology to continually improve our lending processes and decisions. Fair Isaac's Borrower Portal will help better serve the needs of our customers, while allowing us to grow our portfolio without incurring additional overhead costs."