POST-CLOSING LOAN ADMINISTRATION
Our experienced construction administration department delivers in depth industry knowledge and construction experience. Residential or Commercial, Land Gorilla is ready to meet the challenges of today’s construction lending environment. Our team is ready to develop a customizable solution that fits your construction-lending platform.
Land Gorilla’s Post-Closing Loan Administration Services was created for lenders without back room operations and lenders looking for additional support and resources.
Loan Administration Process
Land Gorilla begins every administration service with a welcome package and pre- construction kickstart meeting. Upon notification of a closed loan, Land Gorilla conducts a welcome call with the borrower and builder to make sure all parties are aware of the lenders policies and procedures during the construction phase. We confirm that the borrower and builder are using the construction budget and draw schedule approved by the lender. We discuss the policies and procedures for draw requests, work order changes, inspector access, lien waivers and timelines.
Upon receiving a draw request from the builder and borrower, Land Gorilla reviews the request for completeness, then orders an inspection to verify progress. Upon completion of the inspection and verification the request meets the clients policies and procedures Land Gorilla supplies the lender with disbursement advice and a supporting documentation package.