Construction Loan Management Software

 

Servicing construction loans is a complex and unique process. Effectively managing voucher disbursements over the term of the loan while ensuring that the borrower remains on budget in multiple categories can be trying. Our construction loan accounting system is designed to reduce the challenges and allow you to focus on customer experience.

LA Pro provides the ability to service interest-only, multiple-draw construction loans that can be converted at a later date to permanent amortized mortgage loans.

A successful construction loan servicing solution requires the ability to track all loan sub-accounts against the builder’s budget and efficiently make payments as work is completed. Without software specially suited to this task it can be overwhelming to even the most organized bookkeeper. LA Pro handles fixed-and-variable-rate loans as well as interest-only and amortized loans. Fees can be based on the total commitment and the unused portion of the commitment. To simplify the process, we have automated the assessment of finance charges and the billing process. For those lenders with participant or fractionalized loans, the calculations for differing levels of participation are also handled automatically. Our construction loan management software provides complete control of disbursements, billing interest and loan charges, funding commitments, and borrower payment posting.

Reports Specific to Construction Loan Servicing Needs

LA Pro includes the specific reports needed for construction loan servicing: borrower billing statement, loan report with tracking of committed, used, and available funds, performance to budget, payments to vendors, and 1098 and 1099 statements. Management reports are also included to show history of funding, billings, disbursements, and borrower payments. More than 100 standard reports are included in your loan servicing package, and our ad-hoc reporting capabilities allow you to create any additional reports you might need. As always, our dedicated support team is available to assist you.

Proven Cost Effective Construction Loan Solution

We are ready to help you improve your construction loan servicing with flexible, proven software that meets all your needs. Learn about our industry-leading standard servicing features or watch our online tour of our loan servicing software today.