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Category: Construction Loan Management

Construction Lender Efficiency Tip #7 – Automate Lien Waiver Reconciliation

Construction Lender Efficiency Tip #7 – Automate Lien Waiver Reconciliation

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

Construction Lender Efficiency Tip #8 – Spend Time Resolving Discrepancies, Not Finding Them

Construction Lender Efficiency Tip #8 – Spend Time Resolving Discrepancies, Not Finding Them

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

Real Estate Development Team Efficiency Tip #1 – Centralize and Digitally Connect all Project Information

Real Estate Development Team Efficiency Tip #1 – Centralize and Digitally Connect all Project Information

First and foremost you need to centralize and connect your project finances. But hold on, before you start copying everything into one spreadsheet, start simple. List out the different items... Read More

Real Estate Development Team Efficiency Tip #2 – Track all Current and Upcoming Costs Confidently (Stay Ahead)

Real Estate Development Team Efficiency Tip #2 – Track all Current and Upcoming Costs Confidently (Stay Ahead)

It’s happened to you. It’s happened to your friend. It will probably happen to you again. You find inconsistencies, a calculation error, missing documentation or typos. Those issues require you... Read More

Real Estate Development Team Efficiency Tip #3 – Spend Time Solving Problems, Not Searching for Them

Real Estate Development Team Efficiency Tip #3 – Spend Time Solving Problems, Not Searching for Them

When it comes to addressing problems, it’s easier if you know about them earlier. The sooner you know about it, the more control you have over how to deal with... Read More

Real Estate Development Team Efficiency Tip #4 – Empower your Team to Compare Data, and Exposure Across Projects

Real Estate Development Team Efficiency Tip #4 – Empower your Team to Compare Data, and Exposure Across Projects

Your team needs a way to track vendors across projects and instantly gain visibility into exposure. Similarly, the reporting solution you implement should allow you to look at all projects... Read More

Real Estate Development Team Efficiency Tip #5 – Streamline Communication with Internal and External Parties

Real Estate Development Team Efficiency Tip #5 – Streamline Communication with Internal and External Parties

How efficiently you communicate with colleagues, lenders, equity partners and service providers impacts productivity significantly. Three key areas to examine include approvals, report generation and draw preparation. Approvals: Odds are... Read More

Real Estate Development Team Efficiency Tip #6 – Use an Intelligent Document Organization System

Real Estate Development Team Efficiency Tip #6 – Use an Intelligent Document Organization System

Imagine how much time you could save by eliminating back-and-forth document transfers. Instead, equip your team with an intelligent document organization system to house each document in one location with... Read More

Real Estate Development Team Efficiency Tip #7 – Automate Pay App Reconciliation and Retainage Calculations

Real Estate Development Team Efficiency Tip #7 – Automate Pay App Reconciliation and Retainage Calculations

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

Machine Learning Blog Rabbet

How Machine Learning Can Aid in Error Detection for Construction Finance

Mistakes happen, but that’s no consolation to the lender who dispersed the incorrect funds, the developer who accidentally approved a change or the contractor who used the wrong tile on... Read More