Superior Loan Servicing originated in 2009 with the overarching goal of offering the best loan servicing experience in the private lending industry. Their team provides a unique and highly-effective blend of highly-responsive customer service and operational expertise garnered from decades of combined industry experience—allowing them to leverage key insights and advice to be a true value-add to their rapidly-growing client base around the country.
Originate Report had the privilege of catching up with Superior Loan Servicing’s CEO, Barry Harari, to get an insider’s perspective of the keys to his organization’s consistent track record of success as well as his take on some of the most pressing issues in the private lending industry.
Custom-Tailored Lending Solutions
Sometimes it takes being fully immersed in a system to accurately identify areas for improvement and acquire the skills needed to implement changes. That was certainly the case for Harari, who was able to identify major shortcomings in the lending space as an active participant in the system—a realization that compelled him to start his own company to fill these institutional gaps. “I was an active investor in private money notes for years and found the existing servicing solutions offered at the time to be less than ideal,” explains Harari. “I believed I could build a superior alternative by incorporating key components that I felt were lacking from other company’s offerings—that led to the genesis of what has become Superior Loan Servicing.”
One of the main areas of emphasis for Superior Loan Servicing is developing innovative funding solutions geared towards addressing the individual needs of every client. “Our services are significantly more customizable and specifically tailored to our customers’ servicing needs,” notes Harari. “As a seasoned investor, I recognize that no two transactions are exactly alike. Each deal is unique in some aspect, and the team at Superior Loan Servicing actively engages our clients to identify their individual concerns and requirements so we can develop the most efficient and effective financing approach.”
Adapting to a Changing Environment
The past few years have been rife with unpredictability and constant market fluctuations as the global economy continues to evolve in a post-pandemic era. This has presented lenders with a complex challenge as they fight to remain ahead of perpetually evolving trends and stay in-tune with clients’ needs. “Market volatility continues to be the most substantial challenge facing the collective private lending industry,” observes Harari. “It appears that the continual up and down cyclical nature of the financial markets are here to stay for the long-term and lenders must be flexible and able to adapt in order to continue servicing loans in a sustainable manner.”
Lenders have had to adapt to this new environment to ensure continuity and mitigate risk, a process that Superior Loan Servicing has prioritized as they continue to grow and scale their operations. “We have adopted an ultra-conservative approach to our internal capex and operational execution,” reports Harari. This has enabled us to position ourselves favorably from a balance sheet perspective which will further allow us to weather future storms of uncertainty without impeding our ability to continue servicing operations at full capacity.”
Strategically Planned Partnerships
Superior Loan Servicing also selectively targets potential clientele to ensure compatibility and productivity. “We actively pursue originators and aggregators with portfolios ranging from 100 loans all the way up to 5000 loans,” explains Harari. “By focusing on clients with substantial portfolios, we can allocate the required resources to help transition them onto our platform and help them thrive in the marketplace. We also target funds and institutions that are scaling their lending portfolios and provide consistency of service and pricing as their business expands.”
This approach involves a highly involved vetting and analysis process when identifying new business opportunities. The extra work on the front-end allows Superior Loan Servicing to increase operational efficiency and manage potential risk. “Maximum engagement is essential in the early stages of any working professional relationship,” Harari says. “By taking the time to fully learn and comprehend a potential client or partner’s business model and identify the challenges and main sticking points they will encounter along the way, we can more effectively evaluate whether we can be a true value-add partner in their ecosystem—which is ultimately the determinate factor as to whether the partnership will be viable from a long-term perspective.”
Superior Loan Servicing is proactively engaged in doing everything possible to stay at the forefront of the lending industry, constantly looking for ways to bring more value to their clients and improve the end-product they deliver. “We see technology having a greater impact on servicing trends within our industry, which include more do-it-yourself capabilities for our lender clients that enable them to exercise a greater degree of control and oversight in managing their loans,” predicts Harari. “Accordingly, Superior Loan Servicing is investing heavily in engineering our own internal software platforms to bring these in-demand conveniences and technology to market as soon as possible to optimize user experience and productivity.”
To learn more about Superior Loan Servicing, visit www.superiorloanservicing.com.