Construction Inspections Simplified – How Fund Control Can Drive the Approval Process
Posted on August 25, 2022
No matter the industry, inspections happen frequently. It is important to have the tools required to keep the approval process flowing in a way that will benefit your business. Construction is no different. The inspector frequents the job site to ensure that everything is up to industry standards. However, there are ways that can help the inspector lean more favorably towards approving the project.
With our Fund Control software, we have the technology to make inspections seamless. All the information required right at your fingertips. Feel free to contact us today at 800-625-5972 or you can request a free demo. Our award-winning software is used by banks everywhere as it is easy to use and easy to install.
Continue reading below to learn more about the inspection process and the other services we provide.
Where Fund Control Helps with Inspections
Requesting, recording, and managing of job site inspections has never been as simple. Fund Control provides the tools and functions to request inspections as well as record them. This includes all pictures and other documents to support the inspection.
These inspections are crucial and can drive the approval process, or just simply act as a compliance guide. Easily send PDFs, MS Excel sheets, and even XML files for inspectors to utilize. This tool greatly benefits all parties involved.
Other Services Provided
Being able to keep track of all your inspections is crucial to the approval process. But it is part of an even larger system that thrives off efficiency. We also provide these easy-to-use services to help:
- Contacts – Keep your leads, borrowers, and contractors organized in one place. You can also, maintain contractor and broker licensing requirements while managing your borrower relations.
- Communications – Generation and tracking of all your letters, memos, notes, and letter of transmittals. Further, utilize predefined text elements and documents to standardize correspondence.
- Borrowers – Keep a record of all financial transactions regarding the borrower. Utilize tracking of Vouchers and/or draw requests, verifying that all requests comply with institution policies; creation of disbursement checks and/or transfer forms; and recording borrower pay-downs to manage revolving lines of credit.
- Reporting – Have dashboards that show risk assessments, cash flows, and percentage of types of loans.
- Regulatory Requirements – Our customizable fund control software makes it easy to set up and administer specialty loans, documenting compliance with relevant FHA standards each step of the way.
- Concentration & Stress Testing – With the built in Stress Testing, build unlimited portfolio stress scenarios. Create your own sources of stress; configure the formulas that you would like to use; select the loans that are to be stressed; and then run the test and see the effect to your portfolio over time.
- Loans – Know all things about a loan, from locations to dates, to the players involved and its financial position.
- Budgets – Create and Maintain all original budgets and any budget changes. Create budgets from templates, spreadsheets, or by manual entry.
Check out our Features page to learn more about what we can provide your business.
Delve Into the Experience Firsthand
Our Fund Control Software can be experienced for free by requesting a free demo. Our services we provide has been meticulously crafted to perfectly serve your every construction loan management need. Give us a try today by calling 800-625-5972 and to speak to one of our professionals.