Why Renovation Lending Software
Good for you...
Good for your Borrower.
Renovation Loans, like 203K and Homestyle’s, are some of the best loan products in the market today. They give homeowner’s and home buyers a way to get their dream home in a way that is impossible to do with any other product. And Renovation Lending Software has streamlined that process for everyone involved. Our platform seamlessly links everyone together so they can communicate, share documents, get updates emailed to them, and more easily manage the process.
By simplifying the Renovation Loan Process and providing customers with a great experience your banks market share will grow and so will the entire renovation lending market. It is our goal to become the #1 used renovation loan software not just for banks but for HUD consultants so that the two will be able to work together in ways never before seen in this industry.
Here are just some of the benefits your bank will receive by using Renovation Lending Software
- The RLS system will help save your bank time and money
- Our system will help you stay organized with our unique Dashboard page
- System will save time by sending reminders to other parties when docs are needed
- System has a build in bid form for contractors to use
- System will save time on post close activities like draws, change orders, etc.
- System will keep you compliant and prevent you from overdrawing an account
- Lender management will have better visibility on Reno projects, including;
- Processing time factors per processor
- Reno loan status
- Processing time factors for differing stages of Reno loans
- Overall dollar volume of Reno loans
- Better tracking of Reno loans on a daily, monthly, annual basis
- Data base for;
- Reno contractors (this will be built over time), and ratings by industry
- Reno HUD consultants, and ratings by industry
- Lender archived data per; loan, contractor, HUD consultant, and borrower
- Better Reno loan accuracy
- Better lender compliance with HUD, Fannie May, etc.
- System reminders during differing loan stages to necessary entities, like; contractors 30-day compliance, etc.
- Cost savings to lenders by system allowing higher volume per loan processor
- Easier loan management for processors and bank management
- System will also allow better overall record keeping for lender
- Consistent form and format
- Contractors bids in labor/material format
- Easy contractor bid form
- E-signature for quicker turn around’s
- Faster turn around time for all on Reno loans
- Interfaces with existing systems (Encompass, DocuSign,)
Do You Want To Boost Your Business?
You are our top priority. Contact us today! If you prefer a phone call, we can be reached weekdays from 9-5pm CST.