Data Select Construction Loan Control Software
Data Select’s Construction Loan Control Software is an automated system for commercial real estate banking and construction loans as well as permanent loan servicing. CLCS currently services more than 51 percent of North America’s construction loan outstanding ($400 billion) and is used by 40 of the 100 largest banks in the United States as well as the largest banks in Puerto Rico, Spain, Canada, France, Japan and Scotland. This fail-safe system greatly reduces banks’ risk and compliance issues and allows them to handle more loans at any given time than otherwise possible.
1. CLCS is continually upgraded based on client feedback, keeping pace with the evolving marketplace and changing regulations. The latest CLCS version automates government finance for municipal bond projects such as schools and hospitals. It also enables large bank holding companies to centralize control standards and transfer loans among multiple banks.
2. CLCS is compatible with any institution’s commercial and construction lending department. It can be multilingual and handles various currencies, and is compatible with Microsoft Windows 2008, IBM’s WebSphere 8.0 and CICS Transaction Gateway 8.0 for web browser use. It also integrates with the SQL/Oracle database to meet data integrity requirements for regulatory, audit, risk and consumer reporting.
3. CLCS enables banks to operate efficiently and deliver funding to local communities. It ensures that banks can properly structure financing and accurately track sources of funds. Automatic checks and balances within CLCS deliver critical alerts that keep processes on track, thus minimizing risk and upholding compliance.
4. Data Select brings added value to banks through its key partnerships with industry leaders including Fiserv, FIS, Microsoft and IBM.
5. Data Select receives high praise from clients on timely and accurate CLCS Help Desk support — from product consults, project managers and technical staff.