Check out the latest and greatest from the team at Rabbet.
To increase loan servicing quality and mitigate risk, it’s important to ensure individual line items satisfy loan covenants, don’t overdraw, and have supporting invoices or documentation. Unfortunately, manually reviewing line... Read More
Many lenders rely on analysts and excel reports to get updates on project status. While that solution works for some things it is difficult to quickly assess portfolio risk when... Read More
It’s happened to you. It’s happened to your friend. It will probably happen to you again. You get sent something with inconsistencies, missing documentation or typos. Those issues require you... Read More
Imagine how much time you could save by eliminating back-and-forth document transfers. Picture a world where you don’t have to organize documents for each draw, or manually compare spreadsheets to... Read More
Reviewing and reconciling lien waivers is another step you can streamline. If your current process requires team members to manually classify lien waivers, run calculations to reconcile amounts, or spend... Read More
You may find that every time a new draw request comes in you spend considerable time checking the previous draw spreadsheet. You need to verify that historical figures match, sometimes... Read More
Let’s face it, tracking funding sources and their disbursement restrictions across line-items can be cumbersome. You have to remember which funding sources go with which line items, or add redundant... Read More
First and foremost you need to digitize your process. But hold on, before you go out and buy a smartwatch or start studying computer science on the weekends, start simple.... Read More
Imagine this scenario: You’re almost there. You’ve reconciled ‘amount requested’, compared documents, triple-checked line items, and made sure all lien waivers were properly classified. You even ran through your list... Read More
Ahh, good ol’ pay apps. After manually comparing the G702 and G703 there’s a good chance the figures don’t match up or the retainage for the current period is missing.... Read More
