We sat down with Dan Roehl, Commercial Real Estate tech industry veteran and Director of Sales for LoanBoss. He’s got a unique perspective on the benefits of using a debt management platform — including how the pandemic points to the need for automation.
Q: Tell me a little bit about your background and why you came to LoanBoss.
I’ve been in real estate tech for the past 23 years. I started with MRI in 1998, and I’ve run sales organizations for the big three property accounting platforms.
A couple of years ago, I took over sales for RealPage's Asset and Investment Management (AIM) platform, and I met JP through a mutual client. I was so impressed with what he was building that a year or so later, when JP asked for my thoughts on how to build out the sales team, I told him that rather than sharing my thoughts, he should consider having me join LoanBoss so I could do it for him.
Q: What stood out to you about LoanBoss that made you decide to come on board?
I saw in the LoanBoss platform something that no one else was doing. There wasn’t a complete debt management platform specifically for real estate. What we do in terms of calculations of prepayments and yield maintenance, as well as how we deliver that information is completely beyond what other platforms can do. Our ability to track portfolio debt versus asset-level debt is head and shoulders above anything else anyone is doing, too.
Q: What would you say — as a CRE tech industry veteran — that CRE businesses can really benefit from using this platform?
There are so many things — even as simple as the way that we extract loan detail out of the loan documents and index that information back to the source document itself. That means no more digging through loan documents in a cumbersome, difficult process. Instead, users can click on a reference and see that information in the document itself without having to look it up.
Our use of live interest rates minimizes the opportunity for user error, and the entire platform is built to be collaborative, so that borrowers, lenders, brokers, asset managers, and more can all work together. Because we’re a new technology, we’ve been able to build specific functionalities for our users, creating a competitive difference that other platforms won’t be able to offer.
Q: Anything else you want to add?
When COVID hit, we thought that being in the midst of a global pandemic, it might be an inopportune time to be releasing a new platform — but as it turns out, working remotely highlighted the need for LoanBoss. Rather than scrambling to find source documents in a suddenly remote working environment and manually keying data pulled from disparate documents into calculators to perform all manners of analysis, clients recognized the need for LoanBoss. Clients have appreciated the additional peace of mind that comes with the transparency, security, control, business continuity, and data governance that LoanBoss provides.
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