Residential and Commercial Construction projects include many contractors, suppliers and vendors; each providing one or more components of what will be a completed structure; but more importantly a completed loan. CBT’s software ensures that the work has been performed and the mechanic’s lien waivers are collected from the suppliers and contractors, before draws or payments are issued. This protects owner, borrowers, builders, subs, and the lender from erroneous billings, as well as unexpected incidents of fraud that unfortunately can and do occur.
Properties, Locations, Projects and Funding Workflow
Efficient construction loan administration is not feasible without CBTComply Software Solutions. Our existing platforms are highly customizable to the likes and needs of any financial or service institution. With built-in features such as a massive property database, loan tracking and reporting, interactive user queues and dashboards, third party vendor management, automated budget pages, insurance document tracking, audit trail capabilities, waiver record management, and pay application modules, there is no better way to automate and redefine your construction loan administration process.
Since the beginning of time, construction lending has lacked consistency, controls, and best practices necessary for lenders to drive successful and profitable programs. Our client’s construction lending experience can help design picture perfect software to bring control and transparency to the process. No matter the size of the financial institution, our customizable easy to use platform will rid any archaic practices and increase efficiency. It manages and streamlines every aspect of your loan process—from pre-closing due diligence to post-closing draw administration. Gain efficiency and scalability while mitigating the inherent risk associated with construction lending.
Once tailored to your needs and footprint, it is truly easy to use and will automate the construction loan management process for residential and commercial projects. Accessible from any mobile device or computer, it eliminates paper files and spreadsheets, improves loan officer and loan admin productivity and improves the experience for the borrower, builder and other stakeholders.