How to Make Your Construction Draw Process 45 Days Faster
Lenders, let’s be frank for a moment: Do you know the true construction draw process turn times on your construction loans?
What TRID Means for Construction Lenders Like You
TRID has made it difficult for many lenders to originate construction loans. It’s our intention at Land Gorilla to help inform the mortgage industry with a brief history of TRID, what it is, where it came from, what TRID stands for, and what it means for construction lending.
How Lenders Can Protect Their CTP Loans
Even seasoned construction lenders are not immune to these risks. Lenders who have originated construction loans for years can still miss things that could potentially be disastrous. To help you cover your bases, we have compiled three risks for lenders to look out for: one is obvious, one is less so, and the last is a hidden risk.
Key Takeaways from Mortgage Bankers Association Annual Convention & Expo 2018
Another Mortgage Bankers Association Annual Event is in the books! This October, real estate finance mortgage professionals met at our nation’s capital to network, learn, and discover tools to ensure success for their businesses.
The What, Why, And How Of Digital Construction Loans
Digital construction loans are becoming more and more important, as 66% of borrowers are interested in a fully digital process. Learn how to digitize your construction loan management process to meet modern borrower expectations.
Overcoming Construction Loan Compliance Challenges
Construction lending has some innate hurdles to overcome, in the form of federal and state compliance and ever-changing regulatory requirements. Learn how you can overcome compliance headaches, so you can offer construction loans with confidence.
HousingWire Insider Interview with Shannon Faries
Land Gorilla’s very own Shannon Faries is a 2018 HousingWire Insider, and the following interview will give insight into his accomplishments and contributions to the construction lending industry. 1) How did you get your start? I started my career as a loan originator
Infographic: Contractor Vetting
Lenders who offer construction loans know there is a high risk involved in completing a project on time and on budget. Most lenders have a plan to mitigate this risk during their pre-closing due diligence, and one of those things is thoroughly vetting the contractor
The Lender’s Guide to Contractor Acceptance
Contractor acceptance is a key component to construction lending, but unfortunately it is often overlooked or neglected. Lenders must understand the concept and process of contractor acceptance to successfully build and maintain an acceptance process. This includes understanding the benefits of these programs, the different types of referrals requested, important red-flags that may be encountered, the importance of a risk management policy, as well as an important tool that can help streamline a contractor acceptance workflow.
Three Critical Checks You Need Before Accepting Any Contractor
Every construction and renovation loan lender has the same goal: originate construction loans in a safe and cost-effective manner. In order to achieve this goal and maintain the best interest of the lender as well as the client, lenders should be willing to have open