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Does a statutory lien waiver need every owner's name?
When completing statutory lien waiver forms that request the "owner," providing the name of a single owner is sufficient. Lenders should not delay draw requests solely because a co-owner's name is omitted from the form.
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Still Managing Construction Loans on Spreadsheets? Here Are 7 Signs It's Time to Move On.
At some point, the manual processes that once kept things running start creating the very risks they were meant to prevent. The question isn't whether your team is working hard. It's whether their tools can keep up.
Why Did the Completion Percentage Go Down?
New construction budgets turn renovation draws into a moving target. Here is why line items regress between inspections, and the scope of work format that fixes it.
The "Death of the Penny" and Why Precision Still Matters for Construction Lenders
For Construction Lenders, the "death of the penny" does not mean the birth of rounding. Here is a breakdown of the Treasury’s guidance and exactly what it means for construction lending.
Mitigating Lien Risk in Construction Lending
Construction lenders must automate the collection and tracking of lien waivers to transition from manual, high-risk processes, proactively securing their collateral against potential mechanics liens and accelerating funding.
Ditch the Data Entry
Proficient IDP automates construction loan data extraction, validation; reduces costs, accelerates approvals, enhances accuracy for scaling operations.
The SFTP Trap
Why Legacy SFTP is Slowing Down Your Construction Lending – And Why Modern Integrations Are the Future
The Power of a Clear Construction Loan Agreement
Mitigate risk with a well-crafted construction loan agreement. Learn about essential clauses, defining expectations, and clear communication.
The High Cost of Bad Data in Construction Lending
Bad data in construction lending can be more than just a minor annoyance. It can cost you time, money, and even damage your reputation.
Hard Cost vs Soft Cost in Construction
Knowing the differences between construction hard costs and construction soft costs is crucial for effective budgeting and project management.
An Insider's Guide to Streamlining Construction Loan Management with Software
Discover how construction loan software simplifies construction loan management, improving efficiency and reducing risk for lenders.
5 Reasons You Need To Offer One Time Close Construction Loans
Borrower's want low cost and less hassle. Read five reasons why one time close construction to permanent loans are the best option.
How Construction Draw Management Technology Can Improve Inspection Turn Times
Investing in construction loan management software will provide immediate advantages that your team and your customers will appreciate.
How to Make Your Construction Draw Process Faster
See the real turn time for a construction loan disbursement and learn how to make your construction draw process 55 days faster. Read on!
4 Ways Construction Loan Management Software will Transform Your Customer Experience
Discover 4 ways construction loan management software enhances customer experience by streamlining processes and improving communication.
How Lenders Can Understand General Liability Insurance and Builder’s Risk Insurance
Both insurance policies have their benefits to reduce risk and to be used as a tool for lenders to help ensure project completion.
7 Questions To Ask Warehouse Banks When Considering Construction Lines
These seven critical questions will help you to make informed decisions about construction lines of credit for construction and renovation lending. Bonus: Listing of warehouse banks offering construction lines.
Optimizing Fix and Flip Programs for Growth and Profit
Explore the best practices for private lenders to deliver better efficiencies, transparency, and an outstanding customer experience.
The Squeeze: How Independent Mortgage Bankers Can Survive Margin Compression
Independent mortgage bankers can survive margin compression with a healthy mix of loan products. Learn more here.
Growing Your Loan Portfolio with Construction Lending
Community bankers have historically considered construction loans an essential part of their loan portfolio. The current market conditions lend themselves to an opportunity of portfolio growth with construction lending.
Utilizing Surveys And Foundation Endorsements To Prevent Costly Mistakes
Surveys and Foundation Endorsements play an important role in construction finance and protect financial institution's physical interests in real estate.
How Lenders Can Navigate Rising Material Costs
How Lenders Can Navigate Rising Material Costs | In an ever-changing climate of rising material costs like lumber, there are a few best practices lenders should know when dealing with increasing building costs.
The Time is Now for Purchase-Centric Lending Strategies
Freddie Mac is forecasting a 45% drop in refinance business in 2021. Enter the renovation loan—the 2021 Construction Lending Stratgey
How Successful Construction Lenders Are Like Bear Grylls
Construction lenders may have more in common with survival specialists than they think. This fun blog post details the skills successful construction lenders have that help them to thrive with construction and renovation lending.
Lender's Guide to Fannie Mae Temporary Flexibilities to Appraisal Requirements
Everything construction and renovation lenders need to know about Fannie Mae temporary flexibilities to appraisal requirements. Read on!
7 Tips To Get More From Your Construction Lending Programs
Commercial and consumer construction lenders will benefit from these 7 tips to get more from their construction lending programs this year.
New Survey: How to Make Contractor Payments Stress-Free This Year
This new report surveyed over 500 construction professionals about construction payment challenges and found that half of the contractors do not get paid on time, 98% had to at least threaten a lien to get paid, and nearly everyone (75%+) desires more visibility into the payment process.
5 Questions To Ask When Evaluating Construction Finance Technology
Construction finance technology touches more areas than you may think. Discover the five questions to ask when evaluating construction finance technology.
New Product Offering From Fannie Mae: CTP Lending For Manufactured Homes
Fannie Mae has updated its selling guide to include construction to permanent (CTP) lending for manufactured homes. Read more in this blog.
USDA Single Family Housing Guaranteed Loan Programs (SFHGLP) Construction to Perm
The USDA’s final rule on single-close construction-to-permanent loans, effective 22 August 2019, and the loan terms it loosens.
Who Should Manage Post-Close Draw Administration on Construction Loans?
Why loan officers should not run post-close draw administration on a construction loan, and who should do the work instead.
HELOC v Renovation Loans: What Every Lender Needs To Know
Half of US homes are over 40 years old, which is why HELOC renovation lending is growing — and what a lender takes on with it.
HousingWire Insiders: A year later
Join us for an interview with HousingWire Insider Shannon Faries. "A major benefit technology provides is risk mitigation and increased profitability for lenders.
The New Freddie Mac CHOICERenovation Loan Offering
Introducing Freddie Mac CHOICERenovation and compare and contrast main features of CHOICERenovation and Fannie Mae Homestyle.
The Foundation You Need to Start Renovation and Construction Lending
Renovation and construction lending programs should first include a solid foundation of program policies and procedures created and implemented before the first loan is originated.
Simple Construction Lending Training
Getting started in construction lending is simple with these valuable yet easy to digest tips. Consider them a primer in construction lending training.
The New Construction Lending Opportunity
Policymakers have a razor focus on the lack of housing supply in their jurisdictions, and one thing is clear: they want more new construction.
5 Critical Components for Construction Lending Success
Without refis to process, and new mortgages few and far between, LOs must rely on other types of loan products. Enter construction loans.
A Lender’s Guide to Construction Loan Risk Management
Lenders can optimize their construction loan programs and mitigate their construction loan risk at the same time with a risk management policy. Read this to learn how!
How To Scale Your Construction Program Big Time This Year
Follow these tips on how to scale your construction loan program to increase your loan volume, do more with your current headcount, and recruit top talent.
You Need This To Be The Best Construction Loan Manager
Discover the best tools every construction loan manager must have in order to create successful, stress-free construction loan process. Read now!
4 Easy Ways You Can Close More Construction Loans
Learn four easy ways to find construction loan business that will drive more originations and grow your book of business. Read now on the Land Gorilla Blog!
The What, Why, And How Of Digital Construction Loans
66% of borrowers expect a digital mortgage process. Learn how to digitize your construction loan management process to meet modern borrower expectations.
5 Reasons The Best Mortgage Lenders Offer Construction Loans
The advantage a mortgage bank holds in construction lending, and an answer to each of the usual reasons for not offering the product.
How To Overcome Your Construction Loan Compliance Burdens
To find out how to overcome construction loan compliance challenges and why technology is a game changer, read this post on the Land Gorilla blog.
HousingWire Insider Interview with Shannon Faries
Shannon Faries, a 2018 HousingWire Insider, on originating construction loans and what he teaches originators about the product.
Infographic: Contractor Vetting
An infographic on vetting a contractor before a construction loan closes: which references to gather, and what to verify with each.
The Lender’s Guide to Contractor Acceptance
Manage your construction loan risk effectively with a successful contractor acceptance process. Learn more in the contractor acceptance guide!
Three Critical Checks You Need Before Accepting Any Contractor
Do you have a Contractor Acceptance process? Learn the critical due diligence checks you need to determine the risk level before accepting any contractor.
Diversity in Homeownership Matters More Than You May Think
What an AIME workshop on affordable mortgage lending showed about inequality in US housing, and why millennial demand is reshaping it.
Is It Time to Think About CTP Lending?
Rising rates, thin inventory and aging housing stock are making construction-to-permanent lending a niche worth entering.
How to Originate a Successful Construction Loan
How to sell a construction-to-permanent loan on its features rather than its price, and build builder and realtor relationships that last.
Construction Lending Has More Benefits Than You Think
Seven reasons a bank, credit union or mortgage lender might add a construction loan program, and what the market for one looks like.
15 Ways Construction Loan Software Will Make You a Better Lender
Construction loan software will make you a better lender. Bring order to your construction lending workflow and streamline your process. Learn more!
New USDA Pilot Program Enhances Construction To Permanent Loans
The USDA Rural Housing Service’s pilot program for single-close construction-to-permanent loans, and what it changes for lenders.
10 Things You Need to Know About Spreadsheets
Ten ways a spreadsheet stops keeping up with a construction loan portfolio, and what breaks first as volume grows.
How to Manage Your Risk with Contractor Acceptance (7 Steps)
Seven steps for accepting a contractor on a consumer construction loan, the part of pre-close due diligence that carries the most risk.
HousingWire Names Land Gorilla 1/100 Most Innovative Tech Companies in Housing
HousingWire named Land Gorilla to its Tech100, its list of the technology companies changing the US mortgage industry.
Land Gorilla Ranks High Among the Fastest-Growing U.S. Companies
Land Gorilla joined the Inc. 5000’s Top 500 fastest-growing private US companies, after revenue grew more than 1,700 percent.
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