In the dynamic field of construction loan management, staying ahead of the curve is essential. Fund Control, a leader in construction loan management solutions, is pushing the boundaries of efficiency and innovation with its latest integration with AFX Research, a renowned provider of real estate title research services.

This significant advancement is set to transform the way loan disbursements are managed, offering a host of benefits for lenders, borrowers, and contractors. Contact us at 800-625-5972 for more information.

Enhancing Loan Management Processes

One of the most time-consuming aspects of managing construction loans is the need for title updates with each draw request. Traditionally, this process could take several business days, creating bottlenecks and delaying project timelines. However, Fund Control‘s new integration with AFX Research changes this landscape dramatically. By automating title updates, the average turnaround time has been reduced to just 0.74 business days, significantly speeding up the loan disbursement process.

Joseph Patterson, Chief Software Architect at Fund Control, highlights the impact of this innovation: “By automating title updates, our clients can now significantly reduce time and streamline workflows when disbursing construction funds as well as requesting payments.” This leap in efficiency not only saves time but also reduces the risk of manual errors, ensuring smoother operations.

Key Benefits of the Integration

1. Accelerated Payments: Automating the title update process removes manual tasks and minimizes delays, leading to faster and more efficient payment processing. This improvement is crucial for keeping construction projects on schedule.
2. Improved Workflow Efficiency: With AFX Research’s services integrated into Fund Control‘s platform, communication and data entry are streamlined. This integration enhances coordination between lenders, owners, disbursing organizations, borrowers, and contractors.
3. Risk Mitigation: Ensuring that title updates are performed accurately and swiftly is a critical best practice in construction loan management. This integration supports adherence to these practices, thereby mitigating risks associated with outdated or incorrect title information.

David Mitchell, President at AFX Research, underscores the significance of this development: “By leveraging automation, we can empower lenders and borrowers to experience a faster, more efficient closing process.”

A Step Forward for Construction Lending

This integration represents a pivotal advancement for Fund Control and its clients in the construction lending sector. With a commitment to innovation and excellence, Fund Control continues to enhance its solutions to meet the evolving needs of the industry. The collaboration with AFX Research is a testament to this commitment, providing clients with cutting-edge tools to manage their loan processes more effectively.

As the construction industry grows and projects become more complex, the need for efficient and reliable loan management solutions becomes increasingly important. Fund Control‘s integration with AFX Research not only addresses these needs but also sets a new standard for excellence in the field.

The automation of title updates within Fund Control‘s platform is a game-changer for the construction loan management industry. By significantly reducing the time required for title updates and improving overall workflow efficiency, Fund Control and AFX Research are leading the way towards a more efficient, reliable, and innovative future in construction lending.