Land Gorilla Blog
Renovation and construction loan programs should first include a solid foundation of program policies and procedures created and implemented before the first loan is originated. The goal of creating these policies, procedures, and forms is to maintain low risk, gain greater control, and accelerate and scale your construction and renovation loan programs.
Getting started in construction lending is simple with these valuable yet easy to digest tips. Consider them a primer in construction lending training.
As new policymakers were sworn into office at the beginning of 2019, many have had a razor focus on the housing supply in their jurisdiction. The housing shortage has many factors, including an aging supply of homes, homeowners remaining in homes for longer, and not enough new housing being built at the desired price point.
Without refis to process, and new mortgages few and far between, LOs must rely on other types of loan products. Enter construction loans. To become successful in construction lending, you need these five components to all work together:
We look forward to the Ellie Mae Experience every year and love talking with Encompass users. If you are doing construction or renovation lending, we hope you come talk with us, because we are experts in construction loan software. Booth 300.
To reach this goal and mitigate the risks inherent in construction lending, you must have a risk management policy. Learn how to write your risk management policy.