NEW YORK, April 21, 2021 /PRNewswire/ — Eastern Union, one of America’s largest commercial real estate mortgage brokerages, has introduced new, lender locator technology that improves the company’s capacity to provide owners and other clients with a comprehensive picture of lender options for prospective transactions anywhere in the United States.
Deploying a proprietary technology called “AskQTS” — which leverages the power of artificial intelligence and machine learning — brokers pinpoint specific banks that may be interested in virtually any particular commercial real estate deal located anywhere in the United States, along with the projected rates and terms these banks would offer.
Eastern Union’s AskQTS initiative is led by Asher Samberg, vice president for data and technology within Eastern Union’s QTS Banking and Capital Markets Division. Mr. Samberg reports to Jacob Lipoff, the division’s executive managing director. “QTS” stands for quotes and term sheets.
As Eastern Union’s national footprint expands and as its brokerage staff grows, AskQTS will become an increasingly powerful tool for meeting the financing needs of owners contemplating investments in localities across the United States.
Moreover, AskQTS becomes “smarter” as time passes. As the technology takes in more and more data, it gets better at pinpointing suitable lenders and interest rates.
AskQTS technology is easy for brokers to use. Upon entering the address of a property of interest, AskQTS responds by identifying specific lenders likely to finance the asset, as well as likely interest rates. Because of its machine learning capabilities, the technology delivers increasingly precise answers as the system collects ever-increasing amounts of data.
“A broker’s greatest competitive advantage comes in the form of data,” said company co-founder and president Ira Zlotowitz. “By equipping brokers to leverage lender data, 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 Mr. Zlotowitz. “AskQTS delivers a strong competitive advantage for our clients. Our brokers can today deliver a level of service unmatched in the commercial real estate marketplace.”
“Asher Samberg has been instrumental in developing a unique technology that will benefit owners and investors nationwide,” said Mr. Lipoff. “AskQTS coalesces multiple streams of information inflow to help owners zero in on the best lending sources and terms across a vast spectrum of locations. Finding the right lender just got a lot easier — and this technology will keep getting smarter and smarter.”
AskQTS pulls together at least four data flows: First, it taps public data that spell out which banks are closing transactions within particular areas. Second, the system factors in lending criteria Eastern Union continuously receives from a wide array of banks and lenders. Third, AskQTS incorporates lending-related information exchanged on the company’s wide scope of Slack channels.
The fourth and most valuable data flow derives from the thousands of interest rate quotes Eastern Union steadily receives from more than 400 lenders across the country each month.
“Eastern Union focuses on finding the best lenders and the best rates possible for our clients,” said Mr. Samberg. “Eastern Union is committed to the business success of owners. This dynamic new resource will help owners make better and better investment decisions.”
About Eastern Union
Founded in 2001, Eastern Union is a leading, national commercial mortgage brokerage firm. It employs more than 125 real estate professionals and closes an average of $5 billion in transactions annually.
Eastern Union leverages its relationships with lenders and its marketplace knowledge to secure the best available rates and terms. Eastern Union, headquartered in New York, closes transactions of all sizes across the United States. It secures financing for all asset types. Transactions — which can include multi-state and multi-site portfolios — encompass both conventional and structured financing. In 2020, Eastern Union’s Multi-Family Group reset market pricing by offering a quarter-point fee — with no back-end fees — for refinancing properties backed by Fannie Mae or Freddie Mac. Capital introductions are handled through Eastern Union’s affiliate, Eastern Equity Advisors.
Eastern Union’s free eCALC app instantly helps investors value and underwrite deals.
For more information, visit www.easternunion.com
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Steve Vitoff
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SOURCE Eastern Union
