Construction Loan Manager

Overview

Designed for financial institutions engaged in high-volume construction lending, Construction Loan Manager from Fiserv tracks all activities associated with construction loans, including budgets, draw schedules and disbursements. A wide range of construction loan products are supported: builder, custom construction, commercial construction, owner/builder and holdback loans. This application provides a single point of entry for all builder, payee and vendor information.

Construction Loan Manager simplifies many of the functions your organization needs to perform for construction loans:

• Import loan information: Comma-delimited files from any loan accounting or loan origination application can be imported into Construction Loan Manager, saving time and minimizing opportunities for data entry errors
• Disburse funds: The solution enables you to print checks for construction draws, or automatically deposit those funds into a demand deposit account
• Track documents: You can track all documents required by the Construction Lien Law to disburse draws, including contractors affidavits, surveys, notice-to-owners, waivers and releases, customer approvals and other important notes
• Import and track budgets: Construction budgets created by the builder or contractor can be imported as Microsoft Excel spreadsheets, or you can employ budget templates to create a budget

Features

• Simplify clerical tasks: Assign names and numbers to projects, and track the originating branch as well as property lot and subdivision numbers
• Reporting made easy: Construction Loan Manager simplifies auditing and reporting functions. Management reports are easily produced, including loan summary reports, slow construction loans, inspection results, builder reports and title updates
• Track inspections: Establish an inspection schedule, track results and print detailed draw receipts based on the percentage draw schedule and the line-item draw schedule