LMS Project for Title Agents
Why Title Agents Need LMS Project
Title agents bridge the gap between general contractors, property owners, and lenders during construction projects. However, even the most talented and experienced title agents can become inundated with tedious manual work when handling disbursements and lien release approvals.
If you’ve ever experienced this firsthand, then you have undoubtedly thought to yourself, “There has to be a better way.”
For years, there wasn’t. However, LMS Project changed all that. Our dynamic construction payment management platform was built to address the unique pain points of lenders, title agents, and contractors. Eliminate the risks and headaches associated with construction loan disbursements with LMS.
Key Benefits for Title Agents
Automated Lien Releases
Lien releases are a point of friction in every construction project. Contractors want to get paid for the materials they buy and the work they do. However, you must verify that they have submitted the appropriate release documents before sending them the requested funding.
LMS Project automates lien releases. Contractors submit the required documentation via our centralized portal, and our platform automatically reviews it for accuracy and completeness.
Automated Electronic Payments
Once LMS receives lien release forms, you’ll have to manually authorize payment, right? Actually, our platform takes care of that, too. We use a network of bank partners to initiate the payment process within 24 hours of lien release submission.
The benefits of LMS can be condensed into two words — automation and visibility. Here’s a look at the key perks of our platform:
Automated Disbursements
Automating the disbursement process keeps contractors and lenders happy while minimizing the risk of project delays. You can fulfill your duty to all parties while also cutting down on manual work.
Unified Documentation
Contractors, lenders, and property owners may have different document submission preferences. The result is that you’ll be wasting a lot of time hunting down documents that were sent via email, Dropbox, or sometimes even text. If you lose track of a document or a stakeholder fails to send a form you need, the project will be delayed.
LMS Project eliminates this recurring nightmare by unifying document submission and management. All parties will submit their forms via our centralized portal, which you can use to access, review, and manage documents. Centralizing documents puts a stop to errors, saves you time, and promotes compliance.
Automated Disbursements
Automating the disbursement process keeps contractors and lenders happy while minimizing the risk of project delays. You can fulfill your duty to all parties while also cutting down on manual work.
Unified Documentation
Contractors, lenders, and property owners may have different document submission preferences. The result is that you’ll be wasting a lot of time hunting down documents that were sent via email, Dropbox, or sometimes even text. If you lose track of a document or a stakeholder fails to send a form you need, the project will be delayed.
LMS Project eliminates this recurring nightmare by unifying document submission and management. All parties will submit their forms via our centralized portal, which you can use to access, review, and manage documents. Centralizing documents puts a stop to errors, saves you time, and promotes compliance.
Lien releases are handled automatically. This ensures compliance while accelerating payouts.
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How It Works
Once you integrate LMS Project, you and other stakeholders will have access to our entire suite of digital tools. Here’s a look at how it works:
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The lending institution will deposit money into the project fund
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Contractors submit invoices and lien releases via our digital portal
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The automated platform handles the majority of the processing and review workflow
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Title agents issue final approval
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Title agents can access and manage all disbursement-related documents in one system
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LMS automates digital payments
Our platform provides you with complete visibility into the disbursement process while automating many of the tedious manual steps that can result in delays. You retain control over fund releases and can set up custom disbursement rules to automate payments.
How LMS Project Makes Life Easy for Title Agents
With LMS Project, you can:
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Reduce manual paperwork
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Ensure compliance
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Reduce the risk of delays at the closing table
Our platform empowers you to better serve property owners, lenders, and contractors while promoting compliance and protecting your reputation.
Simplify Closing Day With LMS Project
Eliminate closing day headaches with LMS Project, the end-to-end construction payment management platform designed for title agents. Schedule a demo today!