Fund Control on the Web (FCW) and Fund Control v7.12 Now Available from ECL Software
Fund Control meets on-line banking with FCW that allows Borrowers, Contractors, and Inspectors to work together to expedite construction payments.
Huntington Beach, CA – January 8, 2007 – ECL Software, developer of “Just Do It Once” solutions is pleased to announce the immediate release of Fund Control on the Web (FCW) and Fund Control v7.12. FCW combined with our award winning Fund Control (FC) software, are two powerful solutions for Banks and Construction Lenders to efficiently manage and administer the entire construction loan process.
Fund Control is written using FileMaker® Pro, the #1-selling database software by FileMaker Inc.; and FCW utilizes FileMaker® Server Advance and PHP to create a seamless and secure environment for Borrowers, Contractors and Inspectors to work together to facilitate the disbursement of construction funds.
FCW Features and Benefits
- For the Lender –
- save time by:
- Allowing Borrowers and Contractors to view Budget Reports on-line.
- Automatically filling in the information from submitted Pay Requests.
- Emailing your Inspections Requests.
- Automatically updating the percent completes from your Inspectors.
- Reduce Risk by:
- Validating pay requests BEFORE they are submitted to you.
- Keeping inspection dates and pay request dates as close to real time as possible.
- For the Borrower or Contractor –
- Access to your Budget Reports 24/7:
- having the latest information when you want it, not when the lender can provide it.
- Drill down to see every detail of every transaction.
- Always know where the money has gone.
- Submit Budget Re-allocations on-line per your lenders requirements.
- Submit Pay Requests
- Verifies each line item as you enter it.
- Creates your Lien Releases to sign and turn in.
- View both Pending and Approved Pay Requests.
- For the Inspector –
- early email notification lets you plan your inspections in the most efficient manner.
- Know all of your properties to inspect for the lender in one convenient location.
- Archive your photos and inspections so you and your lender can go to one location to view and review notes, pictures, and current percent completes.
- Submit your inspection report with a button click. No more faxing, mailing, or even emailing, your “ENTER” key is all it takes.
Some New Key Features of Fund Control (FC) v7.12:
- OFAC checking – validate payees against the Office of Foreign Assets Control listings.
- View and gather information from multiple State Contracting Licensing boards.
- Detailed and customizable Risk assessment reporting.
- Fully customizable Contact and Loan validations and check lists.
- Preparation of Interest billings per Loan, sub-note (lot), or even budget line item.
- View loan summary reports as of specific dates (looking back in time).
- Charting of loan pipeline reports.
ECL Software has been developing solutions for Contractors, Subcontractors, and Banks since 1992.