Individuals use the North Shore construction lending software module to plan, track, and control all financial aspects of a commercial or residential-development construction loan. From initial funding projections and AIA line item budget breakdown to in-the-field inspection data capture on a mobile device, this module makes the administration process easier. Better yet, construction and funding statuses are transparent for all concerned parties with real-time balances.
Most importantly, are the exposure controls, in including project and borrower level limits, plus all-encompassing Business Rules that ensure proper workflow, inspection processes, and funding approval.
Essentially, over 75 years of experience among the NSS staff in construction lending and automation reflects in the functionality and flexibility built into the Construction lending software. Thus, this experience ensures that all types of construction projects and all ways of funding and controlling those projects are supported.
Exposure Controls
Smart Budgets:
The module’s sophisticated budgeting capabilities make it easy to create new ones and offer special capabilities for inspections, retention, change orders, and disbursing funds.
Disburse Funds:
Budgets, disbursement projections, inspection data, and draw requests are all integrated into the disbursement and approval process.
Features & Functions
Complete construction loan administration automation and digitization, either stand-alone or with fully-integrated LOS and Asset Management
EXCEL-LIKE INTERFACE, PORTAL DRAW REQUESTS
In addition to the base system, NSS provides a customer portal for CRM, budgets and draws, document upload, and current loan and funding status
- Borrower/Project/Loan Reporting & Control Hierarchy
- Hard Cost/Soft Cost Chart of Accounts Templates
- Line Item-level Percent Complete, Retainage, Locks
- Stage Draw, Percent Complete, Builder Line Controls
- Budget Setup and Draw Requests via Borrower Portal
- Borrower Equity Tracking
CONSTRUCTION DRAW INSPECTIONS, APPROVALS ON-SITE AND ON THE GO
The new iOS app provides base system and portal functions on the iPhone. For example, loans needing inspections are scheduled onto inspectors’ queues and draw request data preloaded for change, approval, commenting, and photos for each. Also, automatic uploads of photos taken on the phone are sent to the system and available for documents to be generated, notifications sent, or other rules-driven communication or processing
- Disbursement Schedule & Revolving Lines
- Multi-unit Development & Lot Release Tracking
- Web-Based Inspection Module, Borrower Module
- Seamless Integration with Existing Systems
- Interest Reserve Tracking
DISBURSEMENT CONTROL FOR ALL TYPES OF CONSTRUCTION
Whether the property being constructed is commercial or residential, a stage draw or AIA, debt or equity, North Shore offers full automation of the request, approval, and disbursement process … accessed on any type of device.
- Disbursement Schedule & Revolving Lines
- Multi-unit Development & Lot Release Tracking
- Web-Based Inspection Module, Borrower Module
- Seamless Integration with Existing Systems
- Interest Reserve Tracking
Benefits
50%
reduction in borrower-line approval time
100%
increase in digital feed of inspection data
85%
increase in accuracy and timing of draw requests
90%
increase in disbursement control
75%
reduction in time building initial budget