Uncomplicate the Complicated – Construction Loan Regulatory Requirements Made Easy
Posted on January 12, 2023
Construction loan regulatory requirements are tedious, to say the least. I’m sure there are other words you have used whilst dealing with them, but we’re here to show you a way to uncomplicate them.
Fund Control was specifically programmed to make dealing with these requirements as easy as possible. With our many years of experience in the field, we understood how frustrating making sure everything was inputted into the system accurately was.
We’ve simplified it for you. You not only save time by utilizing Fund Control, but you also save your sanity. Call us at 800-625-5972 to speak with an expert in the field and really learn how we can help you. You can also request to try a free demo to experience it yourself.
Please continue reading to learn how our construction regulatory requirement system has been made easy for you and how other ways Fund Control benefits you.
Construction Loan Regulatory Requirements Made Easy
Our user-friendly, fully customizable fund control software makes it easy to set up and fit the needs of your bank. With Fund Control, when you administer specialty loans, it documents compliance with relevant FHA standards each step of the way. It can even be used as an online FHA 203K lending software solution! This helps you compile the necessary documents proving that the borrower is on-track with their renovation/mortgage loan. Ensure loans and borrowers adhere to regulatory requirements and standards with Fund Control.
More Reasons to Get Fund Control
Following regulatory requirements is only one aspect of your professional world and we know it. The following are all the other tools we can provide to you:
- 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.
- Loans – Know all things about a loan, from locations to dates to the players involved and their financial position.
- Budgets – Create and Maintain all original budgets and any budget changes. Create budgets from templates, spreadsheets, or by manual entry.
- 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 percentages of types of loans.
- Inspections – Provides the tools and functions to request inspections as well as record them, including pictures and other documents.
- 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 on your portfolio over time.
Try Fund Control Today
We pride ourselves on being able to provide a product to our clients that all of us (the creators) so desperately wanted in the past. Give us a call at 800-625-5972 to speak with a representative and learn even more about how Fund Control construction software can help you and your team.