Construction Lending for Windows
An easy-to-use construction loan tracking and fund control system designed to meet the needs of most construction lenders.
Click on an image to view a larger version.
English
Supported Technologies
Windows 95/98/ME,
Windows XP/2000/NT
Software
Click on a technology to view similar products within this category.
Pricing
Users (# of seats)
9900 to 19000
sales@westonmuir.com
800-487-5655
Additional Product Information
Loan/Project Management
Contruction Lending fow Windows, CL4W, provides complete construction loan and project management information. Other systems overlook essentials such as title insurance, endorsements, subordinations, and side loans. CL4W provides all this information., Project budgets can be as detailed as desired with an unlimited number of budget accounts. Entering budgets is fast because the system will automatically prompt from a list of budget accounts.
Various reports provide cost breakdowns of budgeted and actual costs as funds are disbursed. Actual and potential cost overruns are easy to spot using cost analysis and project budget reports.
Tickler dates can be set and CL4W will provide alerts when they are due. The system provides user notes about a loan.
Loans can be paid off or extended. Matured and closed loans are accounted for with the ability to post or correct data for these loans.
Typically, a new loan along with its project budget information can be entered in less than ten minutes. Retrieval of loan/budget information can be done in less time than it now takes you to walk to the file cabinet. Press a few more keys and you can have the data printed on any of 25 standard reports, many with sort and select options. And, all reports can be previewed before printing.
Critical data is fully edited and validated. Data entry is assisted by pick-lists of valid entries from which an entry can be found and selected. New payees can be added on the fly as voucher requests are processed.
Fund Control
CL4W provides total fund control. Funds can be advanced in draws to a fund control account that will be used to pay vouchers. Or, funds can be advanced directly as each voucher request is presented for payment. Or, funds can be advanced automatically based upon the available budget and completion rate.
There are four types of transactions: advances to fund control, internal transactions (interest, etc.), checks/vouchers, and posting hand-written checks. Any transaction, posting or check can be reversed at any time.
Transactions can be entered and batch posted, or entered and paid instantly. As transactions are processed, the system will print checks or vouchers for payment. The fast check feature can be used to cut a check in less than 30 seconds., Fund usage priority can be preset for all loans and customized for individual loans.
All paid items are automatically posted to the borrower's accounts, fund control and project budgets. A transaction report can be used to post activity to external systems.
CL4W also provides user defined check formats and 1099-MISC forms. Use your existing checks: continuous or laser. Multiple line items for a payee can be combined on one check. Facsimile signatures can also be printed on checks.
Accruals
Interest can be accrued at fixed rates or tied to multiple prime plus rate tables. Prime rate loans can have ceiling and floor rates. Interest is accrued daily on the outstanding loan balance on a user defined day basis (365 or 360). The daily interest accrual can be rounded or calculated to six decimals.
Reporting
CL4W has extensive management reports and detailed customer statements. Although a full range of reports can be produced from menu choices, additional ad hoc reports can be produced using MS Access, Lotus 1-2-3, Excel, Paradox, and other programs. CL4W files are standard Paradox files that can be analyzed and reported by dozens of other software products.
Customer statements can be generated each month. Interim customer statements can be produced at any time. Statements show the balance carried forward, transactions, interest rate changes and accrual. Ending balances and total interest due is also shown. The statement is designed so that it can be mailed using a standard window envelope., The Loan Trial Balance and Loan Snapshot reports provide management with the information needed to monitor the loan portfolio. Other reports include Unpaid Draws, Pending Payments, Paid Draws, Customer Listings, Payee History, Project Cost, Cost Audit, and Project Type. Special audit trail and reconciliation reports are also available.
With unlimited reporting and query capability you can analyze data and provide answers to unexpected management questions. Flexibility to meet changing demands.
Miscellaneous Features
Since report recipients may not be familiar with codes, reports show descriptive names. Passwords control system operation. For your convenience, the system is not copy protected.
Includes a complete check register and reconciliation system. You'll know at a glance whether an item has been paid and the check number issued. Paid items and checks issued are cross-referenced., CL4W handles multi-company accounting (two companies are standard, more are available). You can process for multiple organizations, the bank and a subsidiary, for example.
Ease of Use
CL4W provides complete user flexibility, control and ease of use. The program employs modern programming techniques and a proven user interface; most actions can be accomplished in a "point and shoot" manner. What used to take hours can now be done in minutes.
CL4W was designed to be easy to learn and use. Operations and reports are selected from pull-down menus and speed buttons. Payees can be found by name, even if misspelled. Point-and-select record selection makes it easy to get needed information.
The On-line User Manual is clearly written and organized by function, and contents and index screens make it easy to find complete information about functions and how they work. Help is just one key-press away. A tutorial booklet provides basic training for operators to get up and running quickly. Installation on your computer is a snap.
Summary of Benefits
- Process more construction loans with fewer people. Construction lending is profitable; it can be even more so by eliminating fund control servicers and reducing clerical overhead., Sharply reduce fund control accounting problems while providing better service. You can have up-to-date information and respond to voucher requests and inspection demands.
- The system provides total fund control. Advance funds in draws or advance directly as each voucher request is presented for payment., Reduce your risk. Actual and potential cost overruns are easy to spot using draw cost analysis and project budget reports.
- The data is in your computer, no waiting for reports or delayed posting. Retrieve loan, project and budget information in less time than it takes to walk to the file cabinet.
- Full payee/vendor information including year-to-date activity. Required reporting for IRS Form 1099MISC and 1098, requests for missing tax identification numbers and backup withholding is easy.
- The fast check feature can cut a check in less than 30 seconds. Check/voucher printing can be customized to print on your existing forms.
- Customer statements can be produced at any time showing balances, transactions, interest rate changes, and interest accrual., We have users who have doubled their construction loan portfolio and slashed their processing expense without adding staff.