|Event Date||Mon Mar 23 EDT (almost 2 years ago)|
• What is construction risk and how is it mitigated?
• What is the type of project?
- Full construction vs. repair/remodel
- Owner as borrower, hires a builder
• What additional due diligence is needed, beyond a conventional mortgage application and underwriting?
- Construction contract and cost estimate issues (Description of Materials form)
- Contractor credentials and qualifications
- Plans and drawings
- Title insurance
- Appraisal issues
• Loan pricing and structuring
- Typical interest rate and fees
- Construction loan agreements
• Issues with draws and inspections, including cost over-runs and lien priority
• How is the construction loan going to end (get repaid)?
Who Should Attend?
Consumer lenders, mortgage bankers, private bankers, small business lenders, commercial lenders, credit analysts, loan review specialists, special assets officers, lending managers and credit officers involved in the consumer lending process. Also intended for support personnel involved in the administration of residential construction loans.
Owner, Advantage Consulting & Training