Construction lending is not easy. Each project is unique, delays are common, material costs are uncertain, collateral isn’t straightforward, and there are multiple stakeholders involved with different incentive. That said, there is specific actions that can materially reduce risk in the process.
In recent years, construction lenders are increasingly looking to nationwide firms to monitor their construction loan portfolio. Outsourcing these field services provides many benefits relative to coordinating with a local contact or even using in-house inspectors:
How To Streamline Construction Lending Operations?
Jun 30, 2021
Managing the construction lending process can be challenging. Multiple stakeholders are typically involved; no project is the same; and documentation is overwhelming. In order to drive profitability, enable scale, and ensure clients are satisfied, it is critical to establish efficient operations:
