Land Gorilla Automates Statutory Lien Waiver Process
Land Gorilla, a provider of construction loan management software, introduced a new tool that automates the generation of state-specific lien waivers to facilitate safe construction loan disbursements. Embedded within the Land Gorilla platform, the Statutory Lien Waivers tool seamlessly integrates state-specific statutory lien waivers into the draw process, intelligently populating them with unmatched speed and accuracy.
Lien waivers are critical for protecting disbursements to parties performing work on a construction project and result in certain legal protections when used in accordance with state laws. However, for construction lenders, managing this process has historically been a significant burden. Lenders typically face the time-consuming tasks of researching state lien laws, managing vast document libraries, maintaining instructional how-to guides on the use of these waivers, and manually tracking the collection of waivers from their respective parties.
Land Gorilla’s new Statutory Lien Waivers tool automates each of these steps to significantly cut time, reduce errors, mitigate compliance issues, lower administrative burdens, and enhance proactive risk management.
A unique aspect of Land Gorilla’s Statutory Lien Waivers tool is its intelligent automation and unparalleled accuracy. Unlike traditional form-fill solutions that demand manual data entry and knowledge of the statutory requirements that govern the use of the lien waiver, Land Gorilla automatically generates accurate, ready-to-use, state-specific lien waivers directly from the draw request. By seamlessly integrating comprehensive property and payment data with current state resources and precise statutory language, this tool ensures that compliant lien waivers are consistently produced. This dramatically reduces the risk of invalid or incomplete lien waivers, empowering construction lenders to significantly improve their operational efficiency and focus on what matters most.
“Construction lenders have long sought a truly integrated solution for lien waiver management that protects both the construction lender and the borrower,” said Land Gorilla CEO Sean Faries. “Finally, they have a purpose-built solution that gives them the ability to manage lien waivers with unprecedented speed and accuracy. With Land Gorilla, lenders can disburse construction funds with a level of confidence they simply won’t find anywhere else.”
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