Easily navigate between the development budgets, rent roll analyses and OPEX data of different deals at the same time. See the market comps arranged into a table based on your commissioned market study.
We underwrite several different asset types. What asset types does Builders Patch support?
The Builders Patch platform supports all asset types within multifamily rental housing, including affordable, market rate, senior and student housing, and all housing developments with tax credits, Fannie Mae, Freddie Mac funding.
What type of lending institutions can use Builders Patch for underwriting?
Tax credit syndicators, small community banks, construction lenders, and state housing finance authorities (HFAs) can all benefit from using Builders Patch to streamline their underwriting workflows and to gain access to an easy-to-set-up data analytics platform.
Where in the deal cycle is Builders Patch most useful for investors?
Builders Patch works with investors to take away the hard and repetitive grunt work of due diligence, underwriting and approval of construction and acquisition loans.
We have very specific due diligence requirements. Can you accommodate for our needs?
Builders Patch has a standard checklist that covers about 90% of what most investors would collect for due diligence. You can request to create and add your custom checklists for the different loan types you provide, we will take care of setting up the system for you. Should you choose to skip this customization, the ability to efficiently collect and store the bulk of the required information in one place already saves time for your underwriters.
Is there a limit on number of users? How can I open up Builders Patch to clients and employees?
We don’t have a restriction on the number of users. All you need to do is send out an invite to people within your company and they can log in immediately. Same applies to your clients. Send out an invite and request them to complete due diligence collection by adding their deal details.
Some of our data is sensitive. Will everyone with an account see all our data?
No, your data stays safe with you. When you invite people, you do that to collaborate on specific deals only, not your entire portfolio, and you decide what information they get to see. By default, all sensitive information, such as financial statements, is visible to and editable by only one admin person within your company. You can then decide if you want to grant admin roles to others.
Who owns the data on the Builders Patch platform? Do you re-sell any of the data?
Any file or information you upload to the platform is your property. We don’t re-sell any of your data to third party buyers. In short, what belongs to you stays with you and is owned by you.
What guaranties do you have for data security? Is there an encryption system in place?
We have robust data encryption where we encrypt all data at rest, including emails and calendar events, using 256-bit RSA encryption in storage and 256-bit SSL/TLS encryption in transit. Our database is hosted in a Virtual Private Cloud with Amazon Web Services (AWS). AWS follows top IT security standards, including SOC 3, PCI DSS Level 1, and MTCS Level 3.