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DrawTrak Review

3

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Excellent

Revainrating 5 out of 5  
Rating 
5.0
Vertical Industry, Financial Services

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Description of DrawTrak

DrawTrak is a system for lenders of residentail and commerical construction loans that allows you to track each stage of the loan from the builders cost estimate through the final draw, with reports at each stage to allow you to catch potential problems.

Reviews

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Type of review

Revainrating 5 out of 5

Great Tool For Tracking A Building Construction Loan

I like that it is able to track the loan from the builder's cost estimate through the final draw. It is very easy to use and has a large selection of reports to select from. I also like that you can create different types of reports and the system is very flexible. I do not like that the reports are not very customizable and you can only select from a few options. You can choose from a few different types of reports and you can't easily change the colors or fonts. I also dislike that the loan…

Pros
  • Great reporting ability.
Cons
  • Almost never

Revainrating 5 out of 5

Easy for clients, staff & brokerage services alike

The program has made it so much easier than my previous software! I used this when we were underwriting mortgage applications before they hired me as their business development rep in California (about 5 years ago). It was one less thing i had to do during crunch time - which meant more income!! But now its just great out there too because not only can everyone see what work needs done but also where all our "stamps" are located within an application file etc.. We could have saved hours upon…

Pros
  • Easy for anyone at any age level.
  • Very user friendly interface with many functions that allow you flexibility without being over complicated either..i love how simple yet robustly powerful everything is here..it's awesome!!! :)
Cons
  • So-so

Revainrating 5 out of 5

A great tool for anyone who needs to execute large transactions

I like how easy it was set up by our lender - we needed only about 5 minutes (including walkthrough) before everything seemed clear as day! The fact that all parties can see exactly what they're doing in real time makes this process so much better than when things are being done back-and-forth via email or phone calls/meetings between different people involved in drawing out funds towards project completion. There's not really anything i dislike; however there may be some features which aren't…

Pros
  • Simplicity to setup even for non technical users.
  • Ease at managing drawdowns with approval statuses from any party directly into system rather then manual mailout processes through client banks' attorneys'/accountants' ease during due diligence period prior closing documents
Cons
  • Mostly okay, but...