Churchill has forged a unique path to increasing deal flow, distinguishing itself from competitors. Equipped with a proprietary tech stack that includes software for data analytics, data input, loan onboarding, and an interface for borrowers and lenders alike, Churchill is locked and loaded with the best tools to succeed.
Since 2020, Churchill has executed nearly $9 billion in whole loans across its Bridge, DSCR, and Large Loan programs. The team achieved such heights by optimizing the user experience to attract borrowers and lenders, vastly increasing their deal flow. By offering Streamline—a pipeline and asset management platform—Churchill provides convenience and ease of use for uploading deals, communication, and scalability. Additionally, the launch of the company’s table funding program and the new whole loan website further enhance its reputation as an innovator in the capital lending industry.
Streamline: Enhancing Transparency and Efficiency
Streamline is Churchill’s proprietary software that serves as a pipeline and asset management tool for originators. They can upload submissions, track feedback, and share files. The tool increases transparency and operational efficiency, allowing companies to monitor their deal flow, portfolio performance and draw requests.
Streamline is focused on usability, revolutionizing the submission process. Hunter Oxford, Vice President of Originations, highlights, “Originators are receiving faster feedback on the deals they submit to the portal and avoiding items getting lost in email traffic, which helps speed up trade and funding timelines. Additionally, the portal provides live feedback from our servicers, which helps originators monitor their loan’s performance.”
Churchill’s next initiatives include advancements in submission pricing through a loan sizer and the introduction of a new “Chasing” feature to offer daily digests on loan submissions, draws, underwriting, and due diligence. This feature is designed to keep originators informed with real-time updates on loans requiring status checks, thereby enhancing communication and ensuring no critical details are overlooked.
The upcoming “Sizer” tool will empower originators to structure and submit deals directly within the portal, effectively eliminating the need for pre-approval from their credit team. This enhancement will simplify the submission process, reduce turnaround times, and increase overall productivity.
Streamline for Lender Finance Division
“Streamline plans to launch software for the Lender Finance division in late 2024. It will allow Churchill’s Lender Finance partners to submit loans directly into its loan management system, providing immediate feedback on advance rates, haircuts, eligibility, and other metrics, and enabling more efficient communication and faster funding. It will also allow Churchill to proactively view its portfolio inclusive of the proposed loans, giving detailed insight on the effects new advances or payoffs will have at both the facility-level and in aggregate.” said Brett Peiffer, Director of Lender Finance, Portfolio Management.
Table Funding Program: Expanding Opportunities
The table funding program was created specifically for Churchill’s strategically located partnerships across various regions. Glenn Tatham, Managing Director of Originations, highlights the significant business growth facilitated by table funding: “Before its launch, Churchill’s whole loan business primarily focused on aggregating through loan purchases. This new avenue allows us to meet the needs of many smaller to midsize originators and thereby inject capital directly into the business purpose lending space.”
Churchill’s table funding platform has become a critical option for originators looking to simplify their funding processes. It offers a valuable alternative for those with limited capital, enabling them to use Churchill for loan funding rather than tying up their own funds while waiting for transactions.
The impact of the table funding platform is clear. For instance, an originator based in California saw dramatic growth: before utilizing Churchill’s table funding, they managed monthly loan volumes between $5-10 million. Within less than a year of adopting the platform, this volume skyrocketed to an impressive $70-80 million per month.
Program and New Website Impact
Through the new whole loan website, Churchill was able to access an untapped network of originators who didn’t have capital. Originators can connect directly with Churchill to secure the necessary funding, thereby addressing their financial needs and expanding their business opportunities. In addition, retail borrowers can connect with those same strategic partnerships within their market.
Oxford relays Churchill’s history with whole loan transactions, “Churchill recently reached Whole loan aggregation levels similar to Q2 2022 before the large rate hikes that slowed down the marketplace significantly. During the time in between, Churchill restructured its aggregation platform to focus on strategic relationships in specific geographical regions as an attempt to drive enhanced volumes. In combination with its ongoing 3rd party aggregation effort, Churchill has not only been successful in reaching historic highs in terms of loan volumes but also doing so efficiently.”
The new Whole loan website contributes significantly to the efficiencies achieved. And it’s only the beginning.
Adapting to Market Conditions
Churchill remains unaffected by adverse market conditions. While other companies face challenges, Churchill rises above them by following a cycle-agnostic strategy. Tatham describes, “Being cycle agnostic by cultivating multiple capital sources allows us the ability to effectively navigate through more turbulent markets. Fundamental to our strategy, Churchill is not hand-tied to a single investor that shifts their appetite during a bear or volatile market and decides to stop providing capital.”
The advantages of Churchill’s capital diversification are profound. By employing a diverse range of entities, including institutionally managed accounts, levered vehicles, securitizations and REITs, Churchill is well-positioned to navigate fluctuating market conditions. For example, institutionally managed accounts and levered funds provide a stable source of capital, enabling Churchill to sustain operations even during market downturns. Securitizations and REITs offer increased capital efficiency, which allows Churchill to seize growth opportunities when they arise.
Lastly, Churchill’s platform stands out for its unique offering of industry-leading Lender Finance alongside its dynamic Originations division. Tatham explains that “the development and evolution of these outstanding business segments provide fundamental diversification within the business purpose industry segment. This positioning truly establishes Churchill as a player that remains resilient across economic cycles.”
Churchill Is Staying Ahead with Technology and Defying Market Fluctuations
Churchill has established a strong foundation with its proprietary technology stack, which enhances operational efficiency, ensures transparent communication, and delivers valuable industry insights. This advanced tech infrastructure gives Churchill a unique vantage point, allowing the company to recognize market trends ahead of its competitors and make strategic decisions.
Churchill adapts to changing market conditions and works to set new standards in deal flow. This proactive approach ensures that Churchill remains a leader in both technology and market responsiveness, solidifying their competitive advantage.
