NEW YORK CITY-PNC Real Estate Finance has adopted Bluewire, an Internet-based technology for lenders and commercial mortgage banking firms. PNC provides capital market financing, commercial mortgage loan servicing to developers and investors.
This software, developed by CapitalThinking Inc., based here, enables users to streamline and automate key aspects of the entire loan process including the origination, data formation, due diligence, securitization and closing phases.
“PNC real Estate finance has already made tremendous strides in integrating technology into its business, so using Bluewire to streamline our commercial loan origination process is a natural fit,” says Scott Bassin, senior vice president of PNC.
PNC is headquartered in Pittsburgh and operates out of nine offices across the country. It real estate services platform includes Columbia Housing Partners LP, a national syndicator of affordable housing equity, and Midland Loan Services, a national servicer of commercial mortgage loans.
Heather Shively, cofounder and CEO of CapitalThinking notes that, “We are proud that such a tech-savvy institution has recognized the value and sophistication of our Bluewire ASP offering.”
CapitalThinking staff includes experienced real estate professionals and a 30-member technology team.