CONSTRUCTION LOAN PROGRAM DEVELOPMENT overview
This robust program allows lenders of any size to develop a construction lending program and manage the risk associated with construction lending. Clients will have the ability to originate, underwrite, close and administer construction loans. Additionally, Lender’s will have the risk management policies, procedures, documents and best practices necessary to offer the Fannie Mae, Freddie Mac, FHA, USDA, VA and Jumbo Portfolio construction loan products.
Who is Program Development ideal For?
Our construction-lending program development is designed to be a turnkey solution for lenders looking for guidance in developing a new construction lending program or well established lenders looking for additional risk management control.
This program is ideal for the client who wishes to protect their physical, legal and financial interests in real property. It is designed to complement the Land Gorilla Construction Loan Manager (SAAS) web based platform for administration services.
Land Gorilla’s Construction Loan Program is developed by experienced industry professionals that understand the risk associated with vertical construction lending. Loan program development provides a level of transparency into the process of construction lending and adds exceptional value for Lender’s that prefer not to devote time and resources developing a program from scratch.
The following items are intended to assist in the development of the lender/clients construction loan program for the Fannie Mae single, double close loan transactions and portfolio lending.
- Construction Risk Management Policy
- Lender’s Consumer Construction Information Packet
- Lender’s Origination Training Information Presentation
- Construction Loan Calculation Worksheet
- Lender’s General Contractor Acceptance
- Policies & Procedures
- Lender’s Construction Cost Breakdown
- Lender’s Customized Construction Loan Agreement (CLA)
- Riders to the Deed of Trust and or Modifications to the Note
- Lender’s Assignments
- Lender’s Construction Prestart Meeting Hedging Considerations
- Marketing Material Content