Construction loan administration requires constant oversight and continuous improvement. The process used to be very labor-intensive and involve lots of manual work, including email, phone calls and paper files. Today, technology solutions have become a vital part of this process, allowing construction lenders to eliminate waste, automate processes and streamline workflows. Using technology in this role can eliminate the manual, error-prone nature of the construction loan administration process and ensure compliance. Here are three benefits of using technology to enhance your construction loan administration.

Built’s Construction Loan Administration (CLA) Suite offers a comprehensive platform for construction loan management. This software replaces manual processes, allowing FIs to automate and centralize operations for increased speed and efficiency. The built Plus construction lending software helps FIs increase their profits by streamlining their workflows. They can also benefit from built-in features like title solutions and remote inspections. This combination of capabilities is ideal for building and financing businesses of all sizes.

With nCino’s construction loan administration solution, borrowers can send payments to their contractors through ACH or physical check. All transactions are tracked within the platform, minimizing the possibility of a missed lien submission. By eliminating the manual work of construction loan administration, borrowers can focus on growing their businesses. This solution is also compatible with other popular construction-lending solutions. If you’re interested in learning more about how Contract Simply can help your organization, contact us today.

Construction lending requires detailed budget and inspection tracking, post-loan approvals of draw requests, and disbursement processes. nCino’s Construction Loan Administration solution allows FIs to manage budgets without leaving the platform. The software also integrates inspections into the workflow and lets FIs track budget draws through the life cycle of the project. If you’re a small regional bank, you need to make sure that you’re doing everything possible to minimize errors and ensure quality construction loan administration.

nCino’s construction loan administration solution also integrates Commercial Real Estate Analysis, which eliminates the need for manual paper collection. The result is a complete construction loan management solution. By eliminating the manual labor of construction loan administration, nCino’s Construction Loan Administration platform offers a variety of benefits. The platform eliminates manual data entry and allows FIs to manage their budgets without leaving the platform. The integrated inspections feature further enhances nCino’s ability to track budget draws throughout the lifecycle.

nCino’s construction loan administration solution includes a robust collection of construction lenders and their portfolios. The software also allows borrowers to send payments to their contractors, which eliminates the need for manual paper collection. A construction loan administration system eliminates manual data entry and ensures compliance with applicable laws and regulations. A streamlined process leads to less risk, and increases profitability. It’s a great investment in your business.

nCino’s Construction Loan Administration solution is an effective solution for FIs looking for a way to streamline their construction lending process. It eliminates manual data entry and integrates Inspections and Disbursements into the workflow. A comprehensive database is a key asset to any lender. It is vital to track and report on budget draws to improve compliance and minimize the risks associated with non-compliance with construction loans .

nCino’s construction loan administration solution can automate the entire process for borrowers. Users can access and edit all active files within the platform. This eliminates the need for manual data entry and makes construction loan administration faster and more accurate. nCino’s comprehensive construction lender database also makes it easier to track a borrower’s budget. As the process progresses, borrowers can send payment to their contractors through ACH or through physical checks. Each transaction is tracked within the software platform.

A construction loan administration solution can streamline the process and reduce costs. The software can also simplify the process for borrowers and contractors. It provides a complete construction lender database. Its comprehensive database allows borrowers to send payments directly to contractors without having to deal with multiple documents. Additionally, a construction loan administration solution eliminates the need for manual paper collection, resulting in a more efficient construction loan administration workflow. With this tool, borrowers can reduce expenses and reduce risk by outsourcing the administrative work of construction loan management.