Construction Lending

Key Features

• Employs a Client-Server SQL database that provides the highest level of data integrity, low license fees, and has very low maintenance requirements. This is a real client-server database that performs most of the application processing on the server.

• The SQL database provides for Over-the-Wire encryption between the server and the client PCs. Also, sensitive data can be encrypted.

• Multi-lender capable. You can process loans for multiple organizations.

• Provides predefined and custom check formats, 1098, and 1099-MISC forms. Use your existing checks: continuous or laser. Multiple payments for a payee can be combined on one check. Facsimile signatures can also be printed on checks.

• Provides California independent contractor reporting. Other states are available.

• Any transaction, posting or check can be reversed with automatic generation of reversing transactions.

• Critical data is fully edited and validated. Data entry is assisted by pick-lists of valid entries from which an entry can be found and selected. New payees can be added to on the fly as voucher requests are processed.

• Project budgets can be as detailed as desired with an unlimited number of budget accounts. Can employ user-defined project budget templates.

• Budget account number formats can be one of three types: Account.Sub-Account (i.e., 3456.123); AIA Alphanumeric (34.1235A); AIA Roll-Up (10.1234.123). The AIA Roll-Up type supports budget group headers within a three-level account tree.

• Provides total fund control. Advance funds in draws to a fund control account that is used to pay vouchers. Or, advance funds directly, as vouchers/invoices are submitted.

• Funds can be calculated and advanced automatically based upon the budgets’ available balance and percent complete.

• A full range of retention accounting is available: percentage or amount for the loan, percentage or amount for each budget account, and final retention until complete. Retention can be selectively released or reduced at any time.

• The selection of fund sources (loan, borrower funds, or side loan) can be automatic based upon available funds and fund usage priority or selected by the user for each disbursement.

• Includes a complete check/disbursement register and check reconciliation system. Check register data can be exported to other systems. Paid items and checks issued are cross-referenced.

• Payments can also be made using ACH or wire transfers.

• Transactions can be batch posted or paid instantly. A “Fast Check” feature will post an individual payment and print a check in less than 30 seconds.

• Supports interest accrual at fixed rates or variable based upon multiple prime rate tables. Prime rate loans can have ceiling and floor rates. Interest is accrued daily on a user defined day basis (360, 365 or actual) and accrual base (principal balance, loan disbursed, or undisbursed). The daily interest accrual can be rounded or calculated to six decimals.

• Loan status can be tracked from underwriting, to funding, to reconveyance and payoff. Matured and closed loans are accounted for with the ability to post or correct data for these loans.

• Automated loan fee accounting is based upon user defined Fee Types. One of the key features of loan fee automation is the application of a fee when a triggering event occurs. There are seven triggering events: bill once, bill each, commitment, extension, reconveyance, inspection, and manual.

• Print customized lien waivers and tracking of same.

• Tracks of preliminary notices (mechanic’s lien notices).

• Over 75 standard reports, many with sort and select options. All reports can be previewed before printing. Although a full range of reports can be produced from menu choices, additional ad hoc reports can be produced using a powerful built-in report generator. (Click this link to download an 5-page, printable sample reports in Acrobat® Reader format.)
  

• An archive add-in module is available. Closed loans and their activity can be transferred to an archive database. Users can easily switch to/from the archive database.

• Provides complete user flexibility, control and ease of use. The program employs modern programming techniques and a proven user interface; most actions can be accomplished in a “point and shoot” manner. What used to take hours can now be done in minutes.

Key Benefits

• Process more loans with fewer people. Construction lending is profitable; it can be even more so by eliminating fund control servicers and reducing clerical overhead.

• Reduce your risk. Actual and potential cost overruns are easy to spot using draw cost analysis and project budget reports.

• Sharply reduce accounting problems while providing better service. You can have up-to-date information and respond to voucher requests and inspection demands at a keystroke.

• Maintain complete payment history. Paid draws and checks are cross-referenced.

• Your data is in your computer. No more waiting for reports or delayed posting. Retrieve loan/project information in less time than it takes to walk to the file cabinet.

• Unlimited number of budget line items. Use predefined budget templates and customize the budget for each project.

• Produce year-end IRS information returns (1098s, 1099s) and requests for tax identification numbers.

• Compliant with all current versions of Microsoft Windows. Thin-client capable using Citrix or Windows Terminal Services.

Sample Screens

Pricing

CL4W licenses are available for a one-time cost (starting as low as $9900 for a single user license) or on a subscription basis. Call for specific pricing.

Demonstrations and Evaluation

Online demonstrations this product are available. Just call us and we’ll respond.

Information

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