Construction Loan Management Complete
The Construction Loan Management Complete solution is a high-touch service available to lenders that want the benefits of efficient pre-closing due diligence with post-closing draw management services.
Our end-to-end solution connects the lender, borrower, and builder from the application process all the way to project completion providing unparalleled visibility at every stage.
With our Construction Loan Management Complete service, all the benefits of Builder Acceptance, Project Feasibility, and Post-Closing Draw Management are in one convenient place.
CONSTRUCTION LOAN PROGRAMS
- Fannie Mae
- Freddie Mac
Contractor Acceptance analyzes the builder questionnaire and supporting documentation to determine if a builder meets the lender’s minimum risk profile.
Project Feasibility consists of a detailed review of the construction budget, project plans and scope of work.
A single, comprehensive report is available within 3 business days
- Construction Appraisal Review
- Builder Licensing Analysis
- Builder Insurance verification
- Builder Web-based search
- Builder OFAC Check
- Builder Background Checks (criminal, liens, judgments, bankruptcy)
- Builder Reference Checks (past clients, sub/supplier, banking)
- Budget Review
- Cost Analysis
- Contingency & Reserve Recommendations
- Permit Availability & Research
- Contract Acceptability
- Loan Program Acceptability
- Documentation Review
CLOSE DRAW MANAGEMENT
All loans are assigned a dedicated Construction Loan Administrator for the life of the project. This administrator acts as a liaison between the lender, builder, borrower, and 3rd parties to ensure the project is being managed in accordance with the lenders Construction Loan Agreement, program guidelines, and state statutes.
- Tracking for Construction Project Schedule and Timelines
- Draw Package Review for Acceptance
- Change Order Reviews for Acceptance
- Preparation of Lenders Advancement Advice
- Borrower & Builder Pre-Start Call
- Borrower & Builder Welcome Package
- Review of Inspections
- Review of Title Updates/Searches
- Compliance with State Statutes
- Management to Loan Program Guidelines