Features of Fund Control
Managing construction loans is time consuming and labor intensive. Now, there is a way to manage this process efficiently, with increased productivity, and reduce inherent risks. Our award winning Fund Control solution:
- Is used by Banks, Mortgage Companies, Private Lenders, and Disbursement Control Companies.
- Is easy to use and set up to your specifications.
- Handles anything from small renovation loans to multi-billion dollar projects.
- Manages changes, documents, inspections, and controls disbursements.
- Mitigates risks during the construction process.
Manage all the people you do business with
Keep your leads, borrowers, and contractors organized in one place. Maintain contractor and broker licensing requirements. Manage your borrower relations and so much more.
Create/manage all your notes, letters, & memos
Generation and tracking of all your letters, memos, notes, and letter of transmittals. Utilize predefined text elements and documents to standardize correspondence. All information is fully searchable.
Ensure loans & borrowers meet regulatory standards
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. It can even be used as an online FHA 203K lending software solution, helping you compile the necessary documents proving that the borrower is on-track with their renovation/mortgage loan.
Comprehensive information about the project
Know all things about a loan, from locations to dates, to the players involved and its financial position. Maintain and create vouchers, legal notices, and notification letters when needed. Track sub-notes and their budgets as well as detailed inspections with pictures.
How the funds are broken down
Create and maintain all original budgets and any budget changes. Create budgets from templates, spreadsheets, or by manual entry. Identify special budget line items by categories, interest reserves, and/or special reporting options.
Disbursements to and Pay-downs from
All financial transactions regarding the borrower. Tracking of Voucher and/or draw requests, verifying that all request comply with institution policies; creation of disbursement checks and/or transfer forms; and recording borrower pay-downs in order to manage revolving lines of credit.
Financial detail reporting
Dashboards that show risk assessments, cash flows, and percentage of types of loans. Easily accessible predefined reports for routine processes. Detailed searchable reports across loans and vendors. Importing methods of transactions from backend accounting systems.
Requesting, recording and managing of job site inspections
Provides the tools and functions to request inspections as well as record them, including pictures and other documents. These inspections can drive the approval process or just simply act as a compliance guide. Send PDFs, MS Excel sheets, and even XML files for inspectors to utilize.
Concentration & Stress Testing
Design of and creation of specialized reporting
Comprehensive concentration reporting. Establish the loans that are to be included in the report— can be the entire institution’s portfolio or just the loans within the system. Create the report based upon company specific criteria as well as multiple sorting options. With 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.
How you want Fund Control to work for you
Because your institution is unique, there are about 800 settings that you can turn on or off to make Fund Control work the way you do. We believe that you shouldn’t have to learn the software, but the software should learn about you.