Revolutionizing Construction Loan Management

In the dynamic world of construction financing, staying ahead of the curve is crucial. Financial institutions, including banks, credit unions, insurance companies, and savings & loans, often grapple with the complexities of managing construction loans.

This is where Fund Control, a cutting-edge construction loan software, steps in, offering a suite of tools designed to streamline processes, enhance efficiency, and mitigate risks.

Ensuring Compliance: OFAC Integration and Sanction Screening

One of the standout features of Fund Control is its direct integration with the Office of Foreign Assets Control (OFAC) lists, maintained by the Department of the Treasury. This integration enables real-time screening against sanctions lists, ensuring that companies, organizations, and individuals involved in any transaction comply with international regulations.

This capability is particularly crucial during the disbursement processes, safeguarding against potential legal and financial repercussions.

Streamlining Team Coordination & Enhancing Team Efficiency

Managing a construction project involves coordinating with various stakeholders, and Fund Control simplifies this process with its efficient communication tools:

• Predefined Text Communications: Reduces time and errors in interactions with project stakeholders.
• Title Companies: Streamlines requests and communications.
• Borrowers: Ensures timely and accurate updates on project status.
• General Contractors: Keeps contractors informed and on track with project milestones.

By facilitating these key communications, Fund Control enhances overall team efficiency and project management.

Optimizing Workflows: User-Definable Notifications

A key challenge in construction loan management is keeping workflows on track. Fund Control addresses this by offering user-definable notifications. These notifications, customizable in the company setups, ensure that team members are constantly aware of their next tasks, enhancing productivity and ensuring that no critical step is overlooked.

Adhering to Standards: Company Controls and Validations

To ensure compliance with company policies and accuracy in data entry, Fund Control provides robust company controls and validations. These user-definable validations can be applied to contacts and every type of financial document, ensuring that all information entered into the system aligns with established standards and practices.

Mitigating Risks: Proactive Risk Management Tools

In the realm of construction, risk mitigation is paramount. Fund Control employs two major features to address this. First, the Risk Factors feature uses user-definable formulas to identify and alert when a project’s risk level escalates. Secondly, Stress Testing allows companies to evaluate their portfolio under various scenarios, providing insights into potential risks and enabling proactive management.

Enhancing Inspection Coordination: JDIO Compliance

Fund Control’s compliance with JDIO standards facilitates seamless coordination with inspection companies. This results in almost real-time interfacing and connectivity, streamlining the inspection process and ensuring that all inspections are conducted efficiently and effectively.

In-Depth Performance Reporting: Data at Your Fingertips

With over 200 standard reports and documents, integration with Tableau, and a REST API, extracting and analyzing data from Fund Control is straightforward and automated. This feature enables teams to monitor both individual and portfolio performance efficiently, making informed decisions based on comprehensive, real-time data.

Transforming Construction Loan Management with Fund Control

Fund Control stands out as a comprehensive solution that addresses the multifaceted challenges of construction loan management. By integrating advanced features like OFAC compliance, predefined communications, customizable notifications, risk management tools, and in-depth reporting capabilities, Fund Control is not just a software solution; it’s a strategic partner in maximizing efficiency, ensuring compliance, and minimizing risks in the construction financing sector.

Contact Fund Control today by calling 800-625-5972 or request to try a free demo and you’ll hear back from us as soon as possible. Revolutionize the way you manage your construction loans.