SitusAMC Inks Agreement With Merchants Bank To Transition Warehouse Lending System To SaaS-Based ProMerit

New York, NY (08.27.2024) – SitusAMC and Merchants Bank have entered into an agreement to transition from the company’s warehouse lending platform WLS to its SaaS-based, enterprise-level warehouse lending platform ProMerit. SitusAMC has been diligently enhancing ProMerit and converting to a SaaS-based model over the last three years.

SitusAMC began sharing benefits of transitioning to SaaS-based ProMerit with Merchants Bank in November of 2023. “Merchants Bank wanted to boost operational efficiency and give their warehouse lending business a platform that would allow it to really grow”, says Anthony Beshara, SitusAMC’s Managing Director of Warehouse & Custodial Solutions. “By upgrading to ProMerit they will have the ability to manage both traditional warehouse facilities and facilities using a borrowing base in the same system, allowing a full picture of a client relationship across the various financing facilities they offer.”

Upgrading to SaaS-based ProMerit will provide clients with an updated user interface that includes customizable dashboards, allowing them to quickly view an overview of their business. Over the years, ProMerit has been enhanced to automate tasks, increase self-service options, and integrate with loan origination systems, wire verification services, shipping/tracking of files, and other features. The increased functionality and customization of the SaaS platform makes it easier to support new products and financing options, ultimately streamlining operations for clients.

“ProMerit will allow us to stay at the forefront of being one of the country’s best warehouse lending providers by offering our customers best in class service levels”, says Martin Schroeter, Merchants Bank’s President, Warehouse Lending. “Working with SitusAMC and their experienced staff in the warehouse lending business will provide a seamless transition to the new platform.”

The ProMerit SaaS platform is available to all warehouse lenders and existing clients now. For more information, visit SitusAMC.com/ProMerit or contact Rich Berg.

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About SitusAMC

SitusAMC is a leading independent provider of technology, strategic outsourcing, talent and advisory solutions to the commercial and residential real estate finance industries. The company helps clients identify and capture opportunities in their real estate businesses through industry-leading services and innovative technologies that drive operational efficiency, increase business effectiveness, and improve market agility across the entire lifecycle of their global real estate activity. For more information visit www.SitusAMC.com

About Merchants Bank

Ranked as one of the top-performing banks in the U.S. by American Banker/Capital Performance Group, Merchants Bank focuses on several segments of the banking industry, including retail and correspondent residential mortgage banking, multifamily mortgage banking, business banking (including small business lending), agricultural lending, mortgage warehouse financing, and traditional community banking. Merchants Bank conducts business from its six Indiana banking centers and various regional production offices. Additional information can be found at www.BankMerchants.com. Member FDIC | Equal Housing Lender