With increasing concern over mechanic's liens and construction losses, banks, title companies, disbursing operations and contractors are becoming more cautious regarding construction funds management. OnTRACK is a complete and “best in class” lifecycle management solution for construction escrow, disbursing and loan servicing. OnTRACK has been designed to eliminate as much risk as possible from the construction process and to streamline the necessary paperwork and legal requirements.
- Generates all of the proper documentation for construction loan management including construction loan agreements, contractor worksheets, affidavits, security agreements and inspection reports;
- Handles contractor, subcontractor and vendor payments;
- Facilitates the collection and tracking of lien waivers;
- Tracks the construction loan and all line item budgets;
- Generates extensive reports on all disbursing activity;
- Interactive web portal module handles reporting, lien waiver submissions, draw requests and approvals, inspections with images and more from the office, a laptop, and from the field with a PDA and Windows Mobile OS;
- Secures all client-server and web portal data;
- Significantly increases end-user productivity;
- The system is easy to learn and easy to use with all features
and functionality contained in a single program which provides
a consistent user interface throughout and;
- OnTRACK is available in four scalable versions as well as hosted software-as-a-service and
is affordable for any size disbursing operation. The entire
system includes support services provided by professionals
with years of experience.
For banks, builders, title companies or title agents, OnTRACK provides a whole new level of control and peace-of-mind.
Because of the completeness and simplicity of the program, OnTRACK can be used for any size job –including new homes, commercial buildings and complete subdivisions.
No more vouchers, mountains of paper, spreadsheets and word processor documents. OnTRACK provides everything you need in a single and easy to use application.
OnTRACK makes a builder's life easier by eliminating the voucher system and by streamlining subcontractor payments. The builder can simply write the appropriate line code right on the invoice for payment or enter the information online. A builder's main concern is completing the project. He needs to get the right people paid at the right time, and he needs to make sure he has enough money to finish the job.
By using OnTRACK, the builder can be certain that subcontractors are being paid and everything is being tracked appropriately. Since the system will not allow the builder to overrun a budget without submitting a change order or budget adjustment, he can be certain that he will not overrun by mistake. At any time, the builder can find out who has been paid, for what job and the amount. With Internet access and a laptop computer, the builder can have up-to-the-minute reports on how much money is left in any line category or the project as a whole.
To avoid losses and incomplete projects, banks need to know that each construction loan is being disbursed appropriately, and that a builder is not spending money from one project on another. With OnTRACK, banks know exactly how much has been spent on what items at every moment. In addition, OnTRACK can produce all of the legal paperwork required to maintain compliance as well as lien waiver tracking. OnTRACK ensures that each project is virtually risk-free.
Title Agents and Disbursing Companies need it...
Title agents and disbursing companies need OnTRACK. The program gives them credibility with title companies and makes it much easier to get title insurance. In fact, some title companies are beginning to require that their agents use OnTRACK to safeguard against mistakes and losses. Because OnTRACK makes title companies and banks more comfortable with a loan, title agents and disbursing companies that use OnTRACK should find it to be a competitive edge in the marketplace.
In addition, using OnTRACK reduces costs by computerizing the tedious voucher system. Instead of maintaining detailed books on forty lines for a dozen projects, each item is entered into the system only once.
OnTRACK facilitates the collection of lien waivers, checks for available budget, reduces the appropriate line budgets, prepares the checks and handles all necessary paperwork. Builders are quick to comply with the payment system--giving your company financial controls that are unparalleled in the industry.
New Home and Building Owners will appreciate your company for offering it...
OnTRACK provides new owners of residential and commercial buildings substantial security and peace of mind during the construction process. The value added to your company sets you apart from your competitors.
|Contact us or Signup for an Online Demo Today using our online request form or call us at 1.636.778.2935. Let our expert staff evaluate your business objectives and show you how our unique solutions will benefit you and your customers.