Draws
Our experienced draw department is committed to providing exceptional service and support, guiding our borrowers through every step of the draw process with expertise and precision.
From initial requests to final disbursements, our team handles all aspects of fund management to ensure smooth, timely, and accurate distribution. We understand the importance of maintaining project momentum, so we work proactively to address any potential delays, keep open communication, and answer any questions along the way.
Efficient Processing
We ensure that draw requests are processed quickly and accurately, supporting the timely completion of rehab projects.
Effective Communication
We believe in maintaining open and transparent communication with our borrowers, providing clear guidelines and updates throughout the draw process.
Support Project Success
Our dedicated team helps borrowers stay on track with their project timelines and budgets, providing support and guidance as needed.
Core Responsibilities
Draw Request Management
- Promptly process borrowers’ draw requests, ensuring that all necessary documentation is complete and accurate
- Work with borrowers to resolve any issues or discrepancies that may arise during the draw process
Inspection Orders
- Coordinate and facilitate property inspections as required, ensuring that each inspection aligns with the project’s timeline and scope of work
- Collaborate with third-party inspectors or internal teams to verify the completion of work stages
Budget Revisions
- Review and process budget updates submitted by borrowers, ensuring that any changes are documented and justified
- Work with the borrower to adjust the project budget as necessary, reflecting any unexpected costs or savings
Draw Wires
- Facilitate the transfer of funds to borrowers once draw requests are approved, ensuring that funds are disbursed accurately and on time
- Maintain secure and efficient procedures for managing draw wires and fund transfers
Draw Department Key Activities
Review and Verification
The team is responsible for receiving draw requests and thoroughly reviewing them for completeness and accuracy. We verify that the completed work corresponds with the project's approved budget and scope.
Inspection Coordination
We schedule and coordinate inspections, ensuring they are conducted promptly, and results are communicated to all relevant parties.
Fund Disbursement
The team facilitates draw wires to ensure that funds are transferred to borrowers efficiently, following the approval of draw requests.
Borrower Assistance
Our team promptly responds to borrower inquiries and aids throughout the draw process, helping to clarify procedures and resolve issues.
The draw department is committed to maintaining high standards of service through the implementation of key performance metrics. These metrics are designed to measure the efficiency, accuracy, and overall satisfaction of the draw process for our borrowers:
Turnaround Time
We prioritize quick and efficient processing of draw requests, from submission to fund disbursement. Our goal is to minimize delays and ensure timely access to funds, which is crucial for the successful completion of property rehabilitation projects. We continuously monitor and strive to improve the time taken to process each request.
Customer Satisfaction
Understanding and responding to borrower feedback is a critical aspect of our operations. We regularly assess customer satisfaction levels to gauge the effectiveness of our communication, support, and overall service.
Accuracy and Compliance
We uphold strict standards for accuracy and compliance in all draw-related activities. This includes meticulous verification of documentation, adherence to company policies, and alignment with regulatory requirements.
Need to Submit a Draw Request?
Need to submit a draw request? Please fill out , or email [email protected] and our team will get back to you shortly.
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