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DrawView
DrawView is a web-based application for lending institutions that provides life cycle management of the construction draw process for residential and commercial construction projects. It is securely accessed through a web browser to allow licensed users to enter project information, add contractors and sub-contractors, request construction draws, and send disbursement requests to Bank Services Inc. or to authorized Title Companies.


 

DrawView provides many benefits to the construction lender. Here are just a few:
  •  Minimizes the risk of loan default because sub-contractors are paid promptly for the work they have completed.
  • Matches draw requests with the original budgeting items from the GC or Custom Builder and their sub-contractors.
  •  Pays only for items submitted via valid invoices that are approved by the lender.
  • Pays out only when first and second level conditional lien waivers are presented to the lender. We are the only solution that protects against Tier 2 lien risk.
  •  Pays only those items that have been documented by GPS located, time and date stamped pictures provided by Bank Services Inc. DrawVision inspectors.
  • Eliminates the time and expense of current paper intensive processes.
  • Reduces legal fees in the event of any failure as project funds have been tracked, documented, and archived – no surprises and data is available at web speed.
  • Reduces administrative overhead as fewer personnel will be required to monitor project and draw flow due to the elimination of many manual tasks.
  • Security level access and visibility to authorized users of the status of all stages of the project 24x7/365.
  • Full standard and custom reporting capability for authorized viewing by lender, contractor, auditor, examiner, etc.
  • All documents for a project are imaged and archived on our secure system for future review. Go Green!
  •  Eliminates the time and expense of current paper intensive processes.
  • Allows for benchmarking of contractors, builders, sub-contractors as database of projects in lenders portfolio grows. Reduced risk!
 
  As you can see, the introduction of DrawView and DrawVision into your construction project portfolio can offer significant benefit to your company. We can enable you to have the piece of mind of knowing our services and personnel are monitoring the draw process from start to finish. That can only help to bring projects to completion faster and on budget while generating administrative savings that flow directly to the bottom line.