Custom Credit Systems (CCS), a provider of integrated, end-to-end, credit processing and maintenance systems for small business and commercial loan processing, announced today that one of the top five commercial banks in the country has selected and implemented its construction budget monitoring module to support its commercial lending.
"We know that banks, more than ever before, are challenged with addressing not only additional regulatory and compliance issues but solid loan management," said Brian Shaw, CEO of CCS. "These issues apply to banks of all sizes, and we know that there are specific areas of managing commercial finance activities that are more challenging than others for banks. That is why we offer numerous modules and components, such as our real estate lending module, to address specific needs."
CCS' construction budgeting functionality manages the lifecycle of construction lending projects as part of the company's straight through processing strategy. As a by-product of CCS' loan origination and underwriting functionality or as a separate, stand-alone solution, the module records and tracks the budget line items, draws/disbursements, available funds per budget line item, reallocations, collateral lot tracking and release, sales before starts, occupancy, payments received, inspections tracking, host system integration and reports. The application is yet another way that CCS provides the consistency that financial institutions need in their systems to lend effectively and actively manage their portfolios.