Our comprehensive construction lending software offers tools to help mitigate the risks inherent in CRE lending
There are many risks inherent in underwriting construction projects, and statistics show that the construction industry has one of the highest failure rates of any industry. Fortunately, with wise screening processes and careful oversight, many risk factors can be mitigated. ECL Software’s dedicated construction lending software contains all the features you need to increase productivity while also reducing inherent risks.
Stress Test Your Construction Portfolio
By providing the ability to run stress tests on a bank’s entire loan portfolio, ECL Software’s construction lending software makes it easier to make wise risk management decisions. The stress test functionality allows users to build unlimited portfolio stress scenarios using formulas representing any “what if” statement imaginable. In this way lenders can quickly ascertain best and worst case scenarios for individual loans or loan sectors and determine how much additional risk can be tolerated in the form of new lending.
Ensure Comprehensive Oversight on All Projects
One of the biggest risks in a construction lending project is that a contractor will be unable to complete a project as promised due to a lack of working capital or credit. They may request more frequent disbursements or even place a lien against a lender. ECL Software’s construction lending software can help mitigate this risk by providing for detailed oversight and tracking of budgets, payments, and project progress. Detailed inspections and pictures of construction progress can be uploaded into the system and used to verify a contractor’s right to a disbursement.
Track Payments and Communications
By allowing for all tasks related to loan administration to be completed in one system, our construction lending software makes it easy to stay on top of construction lending tasks, including disbursing payments, recording borrower pay-downs, and issuing any necessary legal notices or communications to various partiers. This helps reduce the risk of an administrative error impacting your project’s success.
Customize Your Construction Lending Software
Our construction lending software contains about 800 settings that can be turned on or off to provide the exact functionality you need for your loan administration activities. Please contact us today to learn more.
