Growth Continues for Residential Construction Loans

Posted by Tara McAdams on 9/6/18 10:13 AM

The demand for construction loans has seen a steady growth over the past few years, and recent analysis shows the trend continuing in 2018. According to a study conducted by the National Association of Home Builders, one of the nation’s leading resources for housing and remodeling insights, the volume of residential construction loans has seen an increase of 1.7% in the second quarter of 2018.

Read More

Topics: Construction Loan Management Software, Construction loans

Eight Construction Loan Monitoring Reports That Crush Risk

Posted by Tim Ryan on 6/13/18 11:29 AM

There’s a four-letter word we hate to hear in the construction lending space. The word is RISK and, like an evil force that encourages unintentional oversight, it threatens progress and compliance throughout the construction loan administration process .

Read More

Topics: Construction Loan Management Software, Construction Loan Management

Award-Winning Construction Loan Management Software

Posted by Tim Ryan on 5/7/18 2:56 PM

Contract Simply is thrilled to receive The 2018 Fintech Breakthrough Award for our construction loan management software. The mission of the FinTech Breakthrough Awards is to honor excellence and recognize the creativity, hard work and success of FinTech companies, technologies, and products.

Read More

Topics: Construction Loan Management Software, Construction loans

Contract Simply and the 2018 Benzinga Fintech Awards

Posted by Tim Ryan on 4/25/18 6:06 PM

Today we became a finalist for Benzinga's 2018 Global Fintech Award. It's an honor to be amongst best-in-class Fintech companies and recognized for our earnest and ambitious mission to revolutionize construction loan management.

Read More

Topics: Construction Loan Management, Construction Loan Management Software

Top Five Uses of Construction Loan Management Software

Posted by Contract Simply on 4/25/18 4:48 PM

We find that the Fed typically reports about half of the actual lending commitments. So, with U.S. commercial real estate and land development lending volume approaching $660B (add another $200B for residential), one might assume that the amount of work and oversight required to execute a successful construction project in which all parties of the loan process are satisfied, is a tad high. Which is a gross understatement because a single draw request not only has to go through the hands of numerous professionals, but the process of working towards successful completion of a project without any legal disputes such as a mechanic's lien is a slow, time-consuming, and painful process.

With real estate and land development lending volume reaching more than 330 billion dollars in the US - and we find what is on their books is about half of their commitments - one might assume that the amount of work and oversight required to execute a successful construction project in which all parties of the loan process are satisfied, is a tad high. Which is a gross understatement because a single draw request not only has to go through the hands of numerous professionals, but the process of working towards successful completion of a project without any legal disputes such as a mechanic's lien is a slow, time-consuming, and painful process.

Read More

Topics: Construction Loan Management Software, Machine Learning in Banking, Construction loans

Sign up!

Sign up today!

Helpful Resources

Contract Simply Construction Payments Report 2018

Contract Simply Kickstart Guide to Construction Loan Software

White Paper - Future-Proof Your Construction Lending Program from Contract Simply

Contract Simply Infographic on Construction Loan Administration

Recent Posts