Integrations

Integrate LendingWise with Built, a leading platform for draw management and construction loan administration, to streamline workflows, enhance property inspection processes, and improve construction project oversight. This integration would provide seamless management of construction loan draws and property inspections directly within the LendingWise ecosystem.

Description:
Built offers specialized solutions for managing construction loans, including draw request automation, property inspections, and risk monitoring. By integrating Built with LendingWise, lenders can automate critical aspects of construction loan management while ensuring compliance and transparency across all project stages.

Key Features of the Integration:

Automated Draw Management:

Sync draw requests between Built and LendingWise to enable automated submission, tracking, and approval.
Validate draws against project budgets, milestones, and approved timelines before releasing funds.
Streamlined Property Inspections:

Leverage Built’s inspection tools to capture real-time property updates, including photos, videos, and progress notes.
Automate inspection scheduling and reporting, syncing results directly to LendingWise loan files.
Construction Budget and Progress Tracking:

Monitor construction progress in real-time, ensuring adherence to approved budgets and project timelines.
Provide alerts for deviations such as budget overruns, missed milestones, or project delays.
Collaborative Borrower and Contractor Portals:

Enable borrowers and contractors to submit draw requests, upload invoices, and share progress updates via Built’s interface.
Sync all borrower and contractor interactions with LendingWise for centralized management.
Centralized Documentation:

Store all relevant data, such as draw requests, inspection reports, invoices, and compliance documents, in LendingWise for easy reference.
Maintain audit-ready records of draw activity and project milestones for compliance purposes.
Risk Mitigation and Compliance:

Use Built’s risk analysis tools to identify potential issues such as incomplete work, delays, or fraudulent activities.
Ensure compliance with local and federal regulations, including lien management and budget adherence.
Custom Reporting and Analytics:

Generate detailed reports on draw activity, inspection results, and project progress for internal teams or external stakeholders.
Offer customizable report templates to meet lender-specific needs.
Real-Time Notifications:

Notify all relevant parties (e.g., borrowers, contractors, and lenders) of updates such as draw approvals, inspection results, or documentation requests.
Why This Is Valuable:

Efficiency: Automates time-intensive processes like draw approvals and inspection management, reducing manual intervention.
Accuracy: Ensures draws are tied to verified progress and compliance requirements, minimizing risk.
Transparency: Improves communication and visibility for all stakeholders, fostering trust and accountability.
Risk Reduction: Proactively identifies and addresses project risks to ensure successful loan outcomes.
Compliance: Centralizes documentation and maintains audit-ready records to streamline regulatory adherence.