Construction Loans: Cost Overruns, Delays & Occasional Disasters 2021 | Financial Education & Development Inc. | 6 August 2021 | Webinar

Lumber prices are skyrocketing! Materials costs are steadily increasing. These trends affect lenders and borrowers alike. Do you have a plan to handle cost overruns? Building delays? Unexpected challenges? Join us to learn the available avenues to keep construction loans on track.

After This Webinar You’ll Be Able to:
• Know how to handle a construction loan when there are cost overruns, construction delays, and the occasional construction “disaster”
• Understand the different methods available to handle each type of situation
• Identify the decisions necessary to properly deal with RESPA and Truth in Lending issues, which often surface in these situations
• Explain the alternatives regarding escrow requirements to potential applicants

Construction loans have always increased risk for financial institutions. And with the current challenges regarding labor, available materials, materials costs, etc., the risk is steadily increasing. This webinar will address compliance issues, but the focus will be on the practical short- and long-term matters lenders are facing. It will cover additional construction loan issues that the CFPB and TRID have yet to acknowledge, as well as items to consider for situations that aren’t addressed in the regulations. This timely program will center on available choices and how to navigate the current environment’s mine field

Who Should Attend?
This informative session is for anyone involved in construction lending, but will especially benefit mortgage department heads, senior lenders, compliance officers, and mortgage department personnel.

PRESENTER:

Bill Elliott, CRCM
Young & Associates, Inc.