North Shore’s construction lending software helps lenders plan, track, and manage the financial aspects of commercial or residential-development construction loans. From initial funding projections and AIA line-item budget breakdowns to in-the-field inspection data captured on a mobile device, the module simplifies construction loan administration. Additionally, real-time balances provide transparency into construction progress and funding status for all relevant parties.
The module also provides exposure controls at both the project ad borrower levels. Furthermore, its all-encompassing Business Rules help ensure proper workflows, inspection processes, and funding approvals.
Essentially, with more than 75 years of combined experience in construction lending and automation, NSS staff have helped shape the functionality and flexibility built into the Construction Lending module. As a result, the software supports a wide range of construction projects, along with different funding structures and approaches to controlling how those projects are supported.
Exposure Controls
Smart Budgets:
North Shore’s sophisticated construction loan budgeting capabilities make it easy to create new budgets 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 construction loan disbursement and approval process.
Features & Functions
Automate and digitize construction loan administration with a stand-alone solution or with North Shore’s fully-integrated Loan Origination System (LOS) and Asset Management modules.
EXCEL-LIKE INTERFACE AND 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 AND ON-SITE APPROVALS ON THE GO
The new iOS app extends the base system and portal functionality to the iPhone. For example, loans requiring inspections can be scheduled in inspectors’ queues, with draw request data preloaded for review. Inspectors can document changes, approvals, comments, and photos directly on their devices. Additionally, photos are uploaded automatically to the system and can support document generation, notifications sent, and 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 constructed property involves commercial or residential, a stage draw or AIA, debt or equity, North Shore automates construction loan draw requests, approvals, and disbursements. Users can access these processes from a range of devices.
- 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
reduction in borrower-line approval time
increase in digital feed of inspection data
boost in accuracy and timing of draw requests
increase in disbursement control
reduction in time building initial budget