Construction Lending for
Windows
CL4W is a construction loan project management and fund control
system designed to meet the needs of most construction lenders. The capabilities of CL4W
equal or exceed other systems that cost much more.
This system is easy to learn and use. Operations and reports are
selected from pull-down menus and speed buttons. Payees can be found by name, even if
misspelled. It's easy to get the information you need using our point-and-select
record selection method.
Reduce fund control accounting problems while providing better service. You can have
up-to-date information and respond to voucher requests and inspection demands.
Key Features
 | Employs a Client-Server SQL database that provides the highest level
of data integrity, low license fees, and has very low maintenance
requirements. |
| Multi-lender capable. You can process for multiple organizations: the bank and a subsidiary. |
| Provides predefined and custom check formats, 1098, and 1099-MISC forms. Use your existing checks: continuous or laser. Multiple payments for a payee
can be combined on one check. Facsimile signatures can also be printed on checks. |
| Provides California independent contractor reporting. |
| Any transaction, posting or check can be reversed with automatic
generation of reversing transactions. |
| Critical data is fully edited and validated. Data entry is assisted by
pick-lists of valid entries from which an entry can be found and selected. New payees can
be added to on the fly as voucher requests are processed. |
| Project budgets can be as detailed as desired with an unlimited number of
budget accounts. Employ user-defined project budget templates. |
| Provides total fund control. Advance funds in draws to a fund control account that is
used to pay vouchers. Or, advance funds directly, as vouchers/invoices are submitted. |
| Funds can be calculated and advanced automatically based upon the budgets’
available balance and percent complete. |
| A full range of retention accounting is available: percentage or amount for the loan,
percentage or amount for each budget account, and final retention until complete.
Retention can be selectively released or reduced at any time |
| The fund source (loan, borrower funds, or side loan) can be automatic based upon
available funds and fund usage priority or selected by the user for each disbursement. |
| Includes a complete check register and reconciliation system. Check
register data can be exported to other systems. Paid items and checks issued are
cross-referenced. |
| Transactions can be batch posted or paid instantly. A
"Fast
Check" feature will post an individual payment and print a check in less than 30
seconds. |
| Interest can be accrued at fixed rates or variable based upon multiple prime rate
tables. Prime rate loans can have ceiling and floor rates. Interest is accrued daily on a
user defined day basis (360, 365 or actual) and accrual base (principal balance, loan
disbursed, or undisbursed). The daily interest accrual can be rounded or calculated to six
decimals. |
| Loan status can be tracked from underwriting, to funding, to reconveyance and payoff.
Matured and closed loans are accounted for with the ability to post or correct data for
these loans. |
| Automated loan fee accounting is based upon user defined Fee Types. One of the key
features of loan fee automation is the application of a fee when a triggering event
occurs. There are seven triggering events: bill once, bill each, commitment, extension,
reconveyance, inspection, and manual. |
| An archive add-in module is available. Closed loans and their
activity can be transferred to an archive database. Users can easily
switch to/from the archive database. |
| Process more construction loans with fewer people. Construction lending
is profitable; it can be even more so by eliminating fund control servicers and reducing
clerical overhead. |
| Reduce your risk. Actual and potential cost overruns are easy to spot
using draw cost analysis and project budget reports. |
| Sharply reduce fund control accounting problems while providing better
service. You can have up-to-date information and respond to voucher requests and
inspection demands at a keystroke. |
| Maintain complete payment history. Paid draws and checks are
cross-referenced. |
| The data is in your computer, no waiting for reports or delayed posting.
Retrieve loan/project information in less time than it takes to walk to the file cabinet. |
| Unlimited number of budget line items. Use predefined budgets and customize the
budget for each project. |
| Produce year-end IRS information returns (1098s, 1099s) and requests for tax
identification numbers. |
| Year 2000 Compliant. |
| Compliant with all current versions of Microsoft Windows.
Thin-client capable using Citrix or Windows Terminal Services. |
Sample Reports - Click this link to download an 8-page, printable
sample reports in Acrobat® Reader format. If you don't have the latest version click on
the button below to download Acrobat® Reader from the Adobe® website.
Pricing
CL4W licenses are available for a one-time cost (starting as low as $9900 for a single user license)
or on a subscription basis. Call for specific pricing.
Demonstrations and Evaluation
Online demonstrations and an evaluation version of this product are available.
Just use the Demonstration Questionnaire Form to
us and we'll respond.
Information
To produce a quick reference, use your browser to print this page.
Weston & Muir,
1536 Parvenu Lane, Fallbrook, CA 92028
800-487-5655
