Ascent Escrow

8/18/2019 Ascent Escrow

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Understanding the Automation needs oReal Estate Escrow Trust Account Managem

© Ascent Technology Consulting


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• Property Details

• Stakeholder details

• Project Progress Status

• Project Payment Status

• Current Repayments status

• Current defaults

• Account Reconciliations

• Unit leel !"nership details

• Unit leel cash #o"s

• $ntity leel cash #o"s

•

%ank !"nership Cash #o"s

• %ank !"nership $&posures

• Property 'ncome and e&pense (anagement


Challenges in Structured *inancing in Property De

Bank

ProjectStatus

Suppliers,ontractors

Properties

+

!o clarit" of currentstatus #

$uge %&erhead of manualreconciliations #


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Challenges in Structured *inancing in Property *ina

,

Multitude of Stakeholders

• Di-cult to track and maintain details and relationships of stakeholders atarious leels

,

ash 'ows and Reconciliation

• Di-cult to aggregate and manage cash #o"s from di.erent leels and trackdefaults

,

(i&erse )inancing Structures

• Di-culty in organi/ing 0nancing payment structures for di.erent types ofcontracts

,

Restructuring of E*isting

Projects• Di-culty in incorporating ne" stakeholders and accommodating ne"

0nancing structures

%wnership + EndunitsManagement

• Di-culty in tracking receia2les and e&penses of properties and its numerous$nd3units



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• Ascent $scro" Pro(art- is a comprehensie "e2 2ased escro" mana

soft"are5 aligned "ith the am2itions and ision of R$RA 6 A$RA5 its a-

%anks5 Property Deelopers and releant Stakeholders

• 't automates the manual processes of Trust Account Creation and ma

along "ith direct and #e&i2le reporting to keep a strong check and 2a

'ndustry

• $nd3to3end %anking $scro" Account (anagement system

• (onitors and manages all transactions5 multiple stakeholders5 cash #reconciliations

• (aintains all the end units and entities

• Supports all types of cash #o"s like leasing5 rentals5 free hold etc,5

Solutions to address Challenges in $scro" Account(anagement



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Process #o" for$scro" accountmanagement



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Process #o" for $scro" account management

•Project is created capturingre9uired information like deeloper5project details

•:arious registered entitiesrelationships and the contractualagreements5 !. plan units5Actiities are created and assignedto the Project

•Project can 2e sae for furtherinformation capture

•

(aker creates the project andChecker approes

Draft ProjectCreation

•A$RA approes the Project and$scro" account in created andassigned to the Project

•A$RA approal supportingdocuments are attached to theproject

•(aker updates the $scro"account5 Retention Acct5 su23accounts and supporting doc andChecker con0rms and su2mit theproject

Projectpending A$RA

Approal •Project isactiity c•(aker3Cadd6upd"hen ne

•Project sdisputedchecker



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$scro" Account (anagement

Receia2les(anagement

• (aintain unit leelcustomer5 0nancing

details5 paymentschedule5 do"npayments for all theentities till the end units

• Track incomingpa"ments at e&er"unit and defaults atarious leels

) Project Progresand Payment

• Create track ProjProgress5

corresponding Paymplans

• (ark completions anrelease payments

• (ake changes andupdates as re9uired the project and paymplans

4

ConsolidatedStatements

Reports• :ie" dash2oard andstatements to track allincoming and outgoingcash #o"s

•


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Account and Stakeholders Setup

Property Development Property ManagementOverview HigEscrow Account Management



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Account andStakeholders Setup

• Create stakeholders like(aster deelopers5

deelopers5 projects52uildings5 units

• reate Accountstructure,appropriatehierarchies

• Add details and releantdocuments for allentities

1


Receia2les (anagement

Project Progresand Payment


corresponding Paymplans• (ark completions an

release payments• (ake changes and

updates as re9uired the project and paymplans

4



•


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Receia2les (anagement




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deelopers5 projects52uildings5 units

• reate Accountstructure,appropriatehierarchies


1

Project Progress and Payment





)



•


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Project Progress and Payment



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Consolidated Statements










4

Alerts5 User(anagement

• Create appropriate(aker Checkers tofacilitate eerytransaction

•


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Consolidated Statements


P t D l t P t M tO i HiE A t M t


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deelopers5 projects52uildings5 units• reate Account

structure,appropriatehierarchies


1


Alerts5 User (anagement


• (aintain unit leelcustomer5 0nancingdetails5 paymentschedule5 do"npayments for all theentities till the end units







4



•


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Alerts5 User (anagement




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System Demo


Bogin Screen

S D


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System Demo


Dash2oard

S t D


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System Demo


Project Admin Detail

S t D


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System Demo


Project Admin Detail

S t D


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System Demo


Project 3 Payments

System Demo


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System Demo


Project 3 Payments

Ascent Escrow

Documents

Transcript of Ascent Escrow