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A new digital legal service for commercial lending has been launched by lending specialist law firm, Green Mortgage Lawyers.
Green Mortgage Lawyers (GML) – formerly part of Gadens Brisbane – has launched an automated tech service that it claims can speed up legal lending processes and boost the efficiency of commercial loan transactions for brokers and lenders.
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While the legal team at GML has traditionally specialised in legal solutions for residential mortgage lending, it has now launched a new CommercialLend service to benefit from the GreenTech solutions already used in the retail lending landscape (such as real-time loan tracking portals (GMLTrack), digital signatures, e-instructions, and document creation systems (GreenDocs) for commercial lending.
CommercialLend is designed to streamline and automate the entirety of the legal documentation process – from instructions to settlement.
As well as benefiting commercial lenders by enabling them to process more transactions efficiently, the tech can reportedly speed up loan settlement processing times for brokers by using quicker data exchanges and removing the need for physical paperwork, the company said.
GML’s automation also sends regular updates and emails, boosting client satisfaction and decreasing the risk of human errors.
It is also built to work alongside systems such as digital banking platform Nimo, loan origination platform Simpology, and lending solutions software provider Loanworks.
According to the law firm, the tech comes as more lenders look to offer funding more quickly and securely.
“While many law firms remain stuck in outdated manual loan processes, GML stands apart,” said GML managing partner, Craig Green.
We’ve harnessed technology to achieve a level of efficiency and accuracy rarely seen in other legal lending law firms.”
GML said that as the commercial lending sector continues to expand, the demand for fast, reliable, and tech-driven services will intensify.
“Without automation, lenders risk falling behind, losing out on the flexibility and scalability needed to stay competitive in a rapidly evolving market,” the company said.
“Faster settlements directly translate into stronger relationships and investor confidence. We’re empowering our clients with the tools they need to thrive, enabling them to navigate today’s fast-paced market with greater ability.”
In July, former Gadens Brisbane senior banking partner, Green, demerged his team of 150 lawyers, paralegals, and support staff to set up GML as a new practice.
The firm now runs as an independent specialist in legal lending.
[Related: Mortgage industry lawyers demerge]
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