Make your construction lending more efficient by minimizing duplicate data entry and automating scheduling, funds tracking, check printing and funds transfer. You will also simplify and enhance your management reporting.
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
- 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