Automating the Budget and Tracking Process of Construction Loans. Becky Rickenbach, Product Manager

Size: px

Start display at page:

Download "Automating the Budget and Tracking Process of Construction Loans. Becky Rickenbach, Product Manager"

Lionel Baldwin
10 years ago
Views:

1 Automating the Budget and Tracking Process of Construction Loans Becky Rickenbach, Product Manager

2 Session Objective Discuss key challenges of managing and tracking the budget during the construction process. Learn how the new FIS Construction Loan Manager solution can assist in re-engineering the lifecycle of construction lending. 2

3 Background Conducted surveys with FIS clients Key gap Construction loan budget tracking 2009 initiative to build Continuous focus groups Multiple clients Systems Used - Manual, CLCS, Mortgage Hub Started development 1Q09 3 3

4 Key Organizational Challenges Institutions are tracking construction budgets manually by utilizing spread sheets Construction budgets are not integrated with the system of record resulting in out of balance conditions Communication with builders, sub-contractors and inspectors are in paper files Inspections and disbursements are manually processed Inconsistent processes across decentralized lending environments Overall risk of a construction project may be unknown Reporting is limited 4

5 A New Solution Construction Loan Tracking Manager (CLTM) BUDGET CREATION AND MANAGEMENT INSPECTIONS & DISBURSEMENTS AUTOMATE MANUAL PROCESSES 5

6 Budget Creation & Management User Defined Templates Define type Residential, Commercial, Multi-Family Define if project disbursements are managed by a % or an amount Delineate soft and hard costs Track and display fees Track customer funds received Track interest payments from reserve Track target and actual completion dates Track and balance loan budget at detail loan level Ability to track change requests / approvals Ability to track funds transferred among line items if approved 6

7 7

8 8

9 9

10 10

11 11

12 12

13 13

14 A New Solution Construction Loan Tracking Manager (CLTM) BUDGET CREATION AND MANAGEMENT INSPECTIONS & DISBURSEMENTS AUTOMATE MANUAL PROCESSES 14

15 Inspections and Disbursements Inspections Automated tools to manage the inspection process Contact tracking of the inspection request Date / Time / Follow Up / Notes / Inspector Name Ability to input inspector completion percentages or amounts System calculates monetary Disbursements Ability to request a draw Contact tracking of the draw request Rules to prevent funding due to exceptions Disbursement and payment instructions 15

16 16

17 17

18 18

19 19

20 20

21 21

22 22

23 23

24 24

25 25

26 26

27 27

28 A New Solution Construction Loan Tracking Manager (CLTM) BUDGET CREATION AND MANAGEMENT INSPECTIONS & DISBURSEMENTS AUTOMATE MANUAL PROCESSES 28

29 Construction Loan Tracking Manager General Features Administration tool for configuration of system Add banks and regions Define processing parameters Role based system with team based options Work Flow Utilize work lists Automates business processes Series of activities and steps to follow to complete a process Determine number of days, hours or minutes that time elapses before the case reaches caution status Determine if / when a user receives a late notification for a pending case 29

30 30

31 31

32 32

33 33

34 34

35 35

Core Application Data Base Oracle 10g Application Server JBoss Budget Services Customer

36 SORs Service Oriented Architecture Technology CLTM Web Interface - TouchPoint Framework (J2EE) Budget View Workflow Customer View Task Business Rules IFX CLTM Business Services Core Application Data Base Oracle 10g Application Server JBoss Budget Services Customer Services Account Services Etc. CLTM Core Components Data Layer ETL ALS-SM ACBS IBS MISER Data Mart 36

37 The Solution Construction Loan Tracking Manager KEY ORGANIZATIONAL CHALLENGE CONSTRUCTION LOAN TRACKING MANAGER RESULT Manual budget tracking Automates budget process Accurate controls to manage risk Construction project is out of balance with system of record Provides integration to system of record Efficient automated controls for monetary processing Manage and track communication during the lifecycle Contact history and user defined contact methods Improved customer service and turn around time to all parties Manual inspections and disbursements Unknown project risk Automated inspection and disbursement process Provides total solution for construction lifecycle Elimination of manual processes Identifies key project risks early 37

38 Thank You Becky Rickenbach

TouchPoint Sales: Tools for Accelerating a Multi-Channel, Customer-Focused Sales Process. Kellye Proctor, TouchPoint Product Manager

TouchPoint Sales: Tools for Accelerating a Multi-Channel, Customer-Focused Sales Process Kellye Proctor, TouchPoint Product Manager Migrating To a Sales 2.0 Culture Changing Institutional Behavior and