203 K Processes
Renovation loans are a unique product and FundControl understands the need for Inspector, Contractor, Owner collaboration hence why FC is JDIO compliant so that all the necessary information that these stakeholders need can be available online for realtime collaboration.
As well as, specific requirements like calculating interest “earned” that will need to be paid back to the borrower.
Ellie Mae Integration
FundControl’s integration with Ellie Mae’s Encompass is extremely powerful and easy. It’s that missing part to move a loan from “Closing” to the system of managing the whole disbursement process.
Managing Team Efficiency
FundControl’s predefined text communications can dramatically reduce time and errors when working with all the stakeholders of a project. From requests to Title Companies to sending our status to your Borrowers to keeping the General Contractor on track.
- Borrower Welcome Package forms auto-filled in
- Draw request forms that pull in financial data automatically
- Title documents that pull title company information from the project
Simplify General Workflows
To assist in keeping workflows moving forward there are user-definable notifications.
These notifications are designed in the company setups and can be assigned to team members to make sure workflows are getting accomplished by notifying users as to what their next tasks are needed.
Company Controls
To make sure information is getting entered correctly, and in accordance with company policies, there are validations. User-definable validations can be placed on Contacts end every type of Financial Document.
Risk Mitigation
To attempt to reduce the risk of construction, as best as a software solution can, FundControl utilizes two big features here. First are Risk Factors, these are user-definable formulas that will trigger if a project becomes riskier during the course of construction.
The second big risk mitigation tool that FundControl has is Stress Testing. Being able to look at your portfolio under multiple scenarios can really present a view of which projects might be at great risk now compared to when the loan was first made.
Streamline Inspection Processes
Because FundControl is JDIO compliant, seamless coordination and integration can occur between you and your inspection companies, with almost real-time interfacing and connectivity.
Team & Performance Performance Reporting
With over 200 standard reports and documents, integration with Tableau, and its REST API, getting information out of FundControl can be one of the easiest and automated features of the system.
