San Diego – With competition for large and mid-size loans at a fever pitch, more lenders are trying to tap into the small-loan market to expand their customer base.
Rising operating costs, coupled with years of weak rental demand in many markets, have put pressure on property managers to look for ways to help apartment owners who have been pinched by property expenses.
Small loans were a popular product type for Fannie Mae borrowers in 2005, and the government-sponsored enterprise (GSE) predicted it would continue to be a growth area in 2006.
To ensure that it can make full use of the vast amounts of information collected daily at its properties, one large property management company uses an increasingly interconnected mixture of purchased and homegrown software.
