Construction Loan Management Software
A national lender was using spreadsheets to manage the post-close process for construction loans. They realized they needed a more efficient and scalable way to handle risk management, draws, and reporting. The system also helps lenders manage more loans with their current staff. Here are some of the reasons why. The construction loan management software now allows them to manage more loans with the same number of employees.
The best construction loan management software is built to make draw processing quick and easy. It tracks all of your finances and the amount of funds needed and disbursed over time. It also helps you stay on top of lien issues by providing real-time information on the status of each. In addition, it streamlines your workflow by automating the uploading of inspection documents. Ultimately, construction loan management software on: getbuilt.com, helps you build a better relationship with your clients and increase your bottom line.
Construction loan administration software is similar to the loan origination and servicing software that you use for your other projects. It can streamline your business processes and improve your overall productivity by reducing risk. It also has features that make managing your projects easier, such as letting you customize your budgets to match specific client needs. Then, there's Retainage Report, which helps you track whether a lien has been released or withheld.
Ultimately, construction loan management software can help you manage your entire portfolio with ease. Moreover, it has a number of other features that make it ideal for a construction company. One of these features is comprehensive reporting. You can view up-to-date reports with ease. Another benefit of this software is its ability to track and analyze your portfolio with real-time data. In addition to this, it can also help you comply with regulatory requirements.
Using construction loan management software will not only help you manage your projects, but it will also keep you compliant with regulations. Its integrated features will allow you to track your monthly draw process and manage the project's timeline. Further, it will help you manage your company's risks and prevent mechanics' liens. By automating your loan workflow, you'll save time, money, and money. And you'll have fewer headaches. Check out this post for more details related to this article: https://simple.wikipedia.org/wiki/Loan.