Improve speed and accuracy with online FHA renovation disbursement solutions.
FHA 203K lending will always carry some amount of risk because you can’t control the borrower’s actions. But at least you can minimize the risk of your own staff making errors that could end up cutting into your bottom line. ECL Software’s online FHA renovation disbursement solutions can help you do this.
Improve All Activities Related to Disbursements
Our online FHA renovation disbursement solutions include all the functionalities necessary to administer and manage your FHA 203K loans. However, there are some specific ways our software can improve the speed and accuracy of disbursement activities in particular.
Contact Management: Naturally you can’t disburse funds without accurate information about the recipient. Whether you are disbursing funds to the owner or to contractors, the single entry contact system in our online FHA renovation disbursement solutions will make your job much easier. With the information already safely stored in the system, you won’t have to worry about typos or administrative errors sending a payment off course.
Budgets & Budget Changes: If the FHA 203K loan involved funds for major renovation work, it is entirely possible that new problems are going to be uncovered during the work, which may necessitate changes to the budget. Fortunately, our system makes it easy to respond to such changes. You can track your original budgets right alongside any budget changes and keep all your vital data organized.
Disbursement Approvals: In projects involving multiple disbursements, some of the funds may be tied to specific phases of the project. You can avoid prematurely releasing disbursements before project progress merits this action with help from our online FHA renovation disbursement solutions. In our system, disbursements can be linked to the progress reports that may be uploaded by on-site inspectors.
Account Oversight: One final way in which our online FHA renovation disbursement solutions can improve your disbursement activities is by helping staff to maintain and access up to date information on loan accounts. Because our software is accessed via an online portal, authorized staff can share information at any time, from anywhere. Dashboard reporting, detail reporting, and concentration reporting templates are all built into the system to help your staff access all the information they need to make sure accounts are staying on course.
Your Search for the Best Online FHA Renovation Disbursement Solutions is Over
Our online FHA renovation disbursement solutions come packed with all kinds of standard features, plus the ability to customize these features to meet your unique business needs. Please contact us today to learn more about how you can receive a free personalized online demo of our software.
