One of Farley Law’s primary practice areas is serving community banks and financial institutions. These banks play a vital role in supporting local businesses, homeowners, and individuals by providing loans and financial services. And unlike large national banks, community banks offer personalized service, ensuring clients are more than just numbers.
Because we serve community banks, one of our main focuses as a firm is to develop products and services that can help our clients survive and thrive. We’re excited to announce a new service called BankDocs Pro. This software solution offers financial institutions automated lending documentation at a fraction of the time generally associated with attorney-prepared documentation.
A common practice amongst attorneys is frequently using old documents, removing previous names, and replacing them with new ones through copy-and-paste methods.
Lending Documentation Challenges
Despite commercial real estate lending being an age-old process, producing lending documents for commercial real estate loans is still a slow, lengthy, error-prone, and inconsistent process.
Banks often rely on attorneys to prepare commercial real estate documents. These attorneys frequently reuse old documents, removing previous names and replacing them with new ones through copy-and-paste methods. This practice is common across the industry, whether the loan is $2 million, $10 million, or a multi-party syndicated commercial real estate loan involving $50 million.
Your bank might also be using old software to produce lending documents. Some well-known vendors have been around since the 1980s, and their software often looks and feels just as old. Bank staff who use it know it’s difficult to navigate, hard to follow, and doesn’t always meet their needs. As a result, the documents it generates often fail to align perfectly with the specifics of the real estate deal at hand.
BankDocs Pro
We’re excited to introduce BankDocs Pro, a lending documentation solution that streamlines your process, reduces errors, offers greater flexibility, and provides peace of mind.
This software enables the creation of commercial real estate documents quickly and accurately, eliminating the delays and frustrations of relying on attorneys. With Bank Docs Pro, you can prepare real estate documents in about an hour, avoiding issues like outdated names on new documents and bypassing the need to wait for legal assistance.
Built on a modern, intuitive platform, BankDocs Pro uses a questionnaire-based format for modular document preparation. It’s easy to use, requires minimal training, and simplifies the process compared to older software solutions. You can customize the system to fit your bank’s specific needs and programs, so you don’t have to adapt to outdated software. If needed, bank staff can prepare documents directly without waiting for an attorney.
BankDocs Pro ensures your lending documents are tailored to each situation, giving you confidence that your loans are backed by precise, error-free documentation.
Limited Pre-Release
We’re offering BankDocs Pro to a few select clients and institutions. Please get in touch with us if you’d like to participate in a limited offering before our broader, more formal release in 2025. We’ll be happy to set up a time to discuss whether this offering is a good fit for you and your bank.
Farley Law specializes in working with both community banks and small businesses. If you are interested in learning more about these or any other income-generating activities for banks, please feel free to contact us at Farley Law, where we help our client financial institutions develop new products and financial services. Have a question or a comment? Send us a note at business@farleylawpllc.com, or set up an introductory call using our bookings service.