Win more loans with faster collateral inspections

What is collateral inspection?

Think of collateral inspection as your safety net in lending. It's how you verify that the assets backing your loans actually exist, are where they should be, and are in the condition promised. More than just a formality, these inspections help you reduce risk before writing the check or during a loan term. They're your eyes on the ground, confirming that what you're lending against is real, accessible, and lives up to what was promised in your agreement.

The Truepic collateral inspection process

Borrower receives inspection link

Your borrower gets a secure link via text or email. No logins, no app downloads. Just a streamlined process that gets the job done without the usual headaches.

Photos and videos captured

Using the link, borrowers capture visuals of their collateral and answer your custom questions. They handle the inspection themselves, giving you what you need for a proper collateral audit without sending someone across town.

Authenticity tests performed

Once submitted, all media goes through rigorous verification. We check metadata, timestamps, GPS coordinates, and analyze submission patterns for anything suspicious. It's like having a digital detective working 24/7.

Results reviewed and stored

Verified information appears on your dashboard immediately. These aren't just pictures. They're peace of mind for confident funding decisions, securely stored for reference throughout the loan's lifecycle.

When to conduct collateral inspections

Construction Lending

For construction projects, collateral audits aren't just helpful. They're essential. Before that first dollar goes out, you'll want confirmation of the property condition.  And before subsequent draws? You need to know progress is actually happening as planned. It's like having a trusted set of eyes making sure that foundation is really poured before you fund the framing.

Business Lending

When funding businesses, you need to know you're not lending to a ghost operation. Is that restaurant really open? Does that manufacturing facility actually exist where they claim? Collateral audits give you that certainty, confirming real world presence and actual business operations instead of just trusting what's on paper.

Equipment Financing

Nothing beats seeing that excavator or fleet of trucks with your own eyes before funding. Equipment inspections verify those assets are:

• Physically there
• Working order
• Match what's in the loan documents. 

It's the difference between hoping your collateral exists and knowing it does.

Add intelligence to your workflow with conditional inspection triggers

Why treat every borrower the same when their risk profiles aren't? Truepic's platform brings smarts to your inspection process by letting you customize when and how often inspections happen based on actual risk factors. Notice a project falling behind schedule? Trigger an automatic inspection. Working with a trusted borrower with flawless history? Maybe they don't need the same inspection frequency. The system can even flag suspicious situations automatically like when location data doesn't match expectations and request a re-inspection without you lifting a finger. It's about focusing your attention where it matters most.

Benefits of virtual collateral inspections

Risk mitigation and protection

Virtual inspections give you eyes on your collateral whenever you need them, helping spot potential issues before they become expensive problems. It's like having an early warning system that lets you address concerns while they're still manageable.

Regulatory compliance assurance

Let's face it. Regulators want to see you're doing your due diligence. With comprehensive documentation from collateral audits, you'll have the paper trail that shows you're crossing your t's and dotting your i's, making those compliance reviews a whole lot smoother.

Improved asset visibility and control

Remember the days of wondering what condition your collateral was really in? Those days are gone. Real time inspection capabilities let you peek in on assets anytime, anywhere even across multiple locations or states. It's transparent visibility that gives you control throughout the entire lending relationship.

Enhanced decision making

When you have verified, actual information about the collateral in your hands, you make better decisions, faster. No more delays waiting for someone to physically visit a site, no more wondering if what you're seeing in photos is genuine. Just solid, verified data that improves your accuracy while speeding up the whole process.

Fraud prevention

The sophisticated analysis happening behind the scenes catches things the human eye might miss. By checking location data, image authenticity, and submission patterns, you can spot potential fraud before it costs you money. It's sophisticated protection working silently in your corner. 

Experience the future of collateral inspections

The days of slow, expensive on site inspections are giving way to something better: virtual collateral audits that balance speed with security. With Truepic Vision's technology, you can fund faster while maintaining the verification standards you need. Your borrowers get a smoother experience, and you get better protection. Ready to see it in action? Book a demo today and discover how much faster and more reliable your collateral inspections could be.