Overview
This article explains two new features: the integration of inspection orders with draw requests, and the ability to order a Title Endorsement from within the draw overview. These updates are designed for lenders and draw administrators who want to streamline draw review, compare inspector recommendations with borrower requests, and order services more efficiently.
Inspection Order Integration with Draw Requests
Step-by-Step Instructions:
Navigate to the relevant draw request in your platform.
Locate the Draw Inspection widget within the draw request interface.
Submit a draw inspection directly from this widget.
Fill out the inspection order as needed, or
Enter the inspector’s recommended funding amounts for each line item by submitting on behalf of the vendor
Fulfill the inspection order to complete the process.
Comparing Inspector Recommendations with Borrower Requests
Step-by-Step Instructions:
After submitting and fulfilling an inspection order, a new column appears in the draw Sources and Uses grid: Recommendation to Fund.
This column displays the inspector’s recommended funding amounts for each line item.
Compare these recommendations directly against the borrower’s submitted draw request amounts.
If there are variances, you can:
Adjust the draw amount to match the recommendation, or
Send the draw back to the borrower for revisions.
Note:
This integration eliminates the need to switch between the inspection report and the draw request, making variance checks faster and more transparent.
Ordering a Title Endorsement
Step-by-Step Instructions:
Navigate to the relevant draw request in your platform.
Locate the Title Endorsement widget within the draw request interface.
Submit a title endorsement order request directly from this widget.
Fill out the order as needed.
Fulfill the title endorsement order to complete the process.
High-level details of the order will appear in the card on the draw overview page.
FAQ
What are the new features introduced in the article?
The article introduces the integration of inspection orders with draw requests and the ability to order a Title Endorsement from within the draw overview.
Who can use the draw inspection integration feature?
Lenders with access to draw requests and inspections.
What if the inspector’s recommendation and the borrower’s request don’t match?
You can adjust the draw amount or send the request back to the borrower for revisions.
Will the new column always appear in the Sources and Uses grid?
The “Recommendation to Fund” column appears after an inspection order is fulfilled.
How can I submit a draw inspection?
To submit a draw inspection, navigate to the relevant draw request, locate the Draw Inspection widget, fill out the inspection order, enter the inspector’s recommended funding amounts, and fulfill the inspection order.
Is it necessary to switch between the inspection report and the draw request?
No, the integration eliminates the need to switch between the inspection report and the draw request, making variance checks faster and more transparent.
How do I order a Title Endorsement?
To order a Title Endorsement, navigate to the relevant draw request, locate the Title Endorsement widget, fill out the order, and fulfill the title endorsement order.