Use Fund Control Software at Your Bank to Make Following Regulatory Requirements Simpler
Posted on May 12, 2022
The many features provided by Fund Control Software can and will help your bank become more efficient than ever. Ensuring loans and borrowers meet regulatory requirements can be stressful work. Our software will take that stress out of your work. Discover the many ways your services can improve with our software by continuing to read below. Contact us at 800-625-5972 to speak with a Fund Control specialist. You can also request a free demo to experience it firsthand.
Following regulatory requirements with ease
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 features provided to benefit your bank
The ability to easily follow regulatory requirements is only a part of the package deal we offer banks. We also provide these easy-to-use services:
- 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 its 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 percentage 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 to your portfolio over time.
Check out our Features page to learn more about what we can provide your bank.
Contact us today
To discover more about how Fund Control can help your bank, call 800-625-5972 today or request a free demo to see the future of efficiency.