The “Why CondoTek” page includes an overview of CondoTek’s services, however below is a comprehensive list of features and capabilities including condo fees management, workflow automation and project analytics.
API Integration. Connects with Ellie Mae’s, Encompass and other LOS platforms – and integrates with proprietary lender systems— minimizing manual data entry
Automated Workflows. Automated email and follow-up (templates, multiple reminders, auto-calls, escalation) –using optimized best practices, so no information escapes!
One-Touch Collection. Contact and gather ALL documents from every source only once. Likewise, your team validates completeness and accuracy one time.
Intelligent Branching Processes. Automatic, optimal branching process: Litigation? Auto-emails the attorney of record. Low reserves? Flags the file for added validation.
Team Accountability. The CondoTek engine automates most of the process – but specialists stay fully involved. The team is rewarded for speed and accuracy – fostering a culture of rapid execution, while maintaining accuracy.
Simple Project Initiation. Sign up with CondoTek. Log in, enter the full condo unit address–your project begins.
Project Dashboard. Track collection progress, milestones, and document status from a single screen.
Push Notifications. Automatic email and text alerts keep everyone informed–no manual follow-up.
Project Analytics. Review current and past projects, search previous jobs, summarize and monitor performance.
Approved Project List. Database of your projects approved for lending.
Collaboration Tools. Communicate and give feedback in platform throughout the collection process.
Payment Aggregation for Condo Fees. All-inclusive flat-rate billing for condo fees – per project or monthly invoice. ONE payment replaces 3-10 invoices per project–Accounting will love you!
Completeness Verification. Every package is reviewed – automated and manually – for gaps before delivery, reducing re-opens and duplicate requests.
Accuracy Validation. All inconsistencies and risks are identified and flagged – fixed before they become lender problems
Acceptable Format Review. Delivered in a standardized, best-practice format – easy to review and process
Fast Turnaround Speed. Average completion times of appx. 5.9 days helps accelerate document collection and loan closing times.
Review-Ready Package Delivery. A complete, first-pass package that fits the lender’s existing review process
Accounting-Friendly Administration. Eliminate multiple approvals, reconciliations, payment processes, and administrative tasks that consume valuable staff time.
Third-Party Condo Fees Aggregation. Questionnaire fees, insurance certificates, governing documents, financial statements and other condo fees–use a single payment instead of 3-10 separate transactions per loan.
Single Payer Invoice. Replace multiple invoices, vendor payments, and accounting entries with one streamlined billing relationship—No hundreds of separate checks, money orders, credit card fees, or FedEx payments…Accounting will love you!
Automatic Line of Credit (Interest Free). CondoTek advances all vendor document payments to increase your cash-flow.
Transparent Flat-Rate Pricing for Condo Fees. Predictable pricing eliminates surprise condo fees–simplifying borrower communication, disclosures, and pass-along fees.
Flexible Monthly Billing Options. Choose borrower-paid, transaction-based, or a monthly consolidated billing model that fits your preference.
API Driven Collection Automation. Integrations and automated retrieval cut manual requests–lowering labor and overall collection costs.
Document Repository Bank. Reusing your prior documents cuts duplicate efforts and costs while accelerating delivery. The more you use CondoTek, the more you can leverage existing work.
