Avoid loan administration errors with our FHA 203K loan disbursement software.

Is your staff tired of jumping between multiple different systems when managing and administering FHA 203K loan accounts? Streamline your operations with our FHA 203K loan disbursement software and bring all your vital functions into a single user-friendly system. Our product will help you improve organization, efficiency, and accuracy in your lending processes.

Benefits for the Disbursement Process

Using our FHA 203K loan disbursement software can help your business save money by preventing disbursement errors in the following 3 ways.

No Premature Payments: FHA 203K loans may include 1 to 5 different draws depending on the scope of the renovation project and the number of contractors involved. These draws should only be released upon completion of the specified work. Our FHA 203K loan disbursement software helps prevent the premature release of payment for work not properly completed by enabling you to link inspection reports to payments in the system.

No Disbursement Check Errors: The more data entry work your lending process requires, the higher the risk for an error. Our system helps reduce this risk by including single-entry functionality for contact information, budget items, and draw and payment amounts. Simple enter the data once in the system and it is automatically available everywhere it may be needed. This prevents issues like checks being issued in the wrong amount or in the wrong name.

No Accounting Errors: Because our FHA 203K loan disbursement software can connect directly to your back end accounting system, you can issue your disbursement checks directly from this system without having to re-enter data in a separate accounting system. Again, this helps reduce the risk of errors and the associated hassles and expenses of correcting them.

Benefits for Your Entire Lending Process

Our FHA 203K loan disbursement software also includes all the other functionalities needed to support your overall lending process, including features for managing contacts, verifying approvals and qualifications, creating and tracking budgets, and running reports on individual loans and loan sectors. It can even be configured to handle other types of loans besides FHA 203K.

Customize Your FHA 203K Loan Disbursement Software

Our lending software contains about 800 different functionalities that can be turned on or off to accommodate the way you do business. Get a taste for how our customizable FHA 203K loan disbursement software can improve the way you do business by contacting ECL now for a free personalized online trial.