Residential construction lending has so many facets and so many requirements that need to be considered, from safety and soundness guidelines to compliance requirements. With any project we must be ready for unexpected challenges. This webinar will cover the requirements so that you will be ready to nail the details for any residential construction loan request!
Underwriting issues, compliance requirements, and the special documentation needed for residential construction lending to mitigate the higher risk associated with construction loans are just a few of the topics to be discussed. Join us as we explain the construction loan process from start to finish, including best practices for managing draw requests to ensure that your program is solid! In addition, sample policy language, checklists, and other tools will be offered and discussed.
What You’ll Learn
- Underwriting considerations
- Construction loan agreement with the borrower
- Explanation of residential construction loan documentation
- Using Appendix D to estimate interest on the LE & CD
- TRID requirements for various scenarios
- Appraisal considerations
- Flood insurance requirements for construction loans
- Best practices for managing the disbursement process
- Tips on preparing the borrower for escrow shock
Toolkit Includes:
- Inspection Request & Report
- Construction Draw Schedule
- Construction Loan Checklist
- Sample Loan Estimate and Closing Disclosure completed for various scenarios
- Flood Calculation Worksheet
- Builder Application Procedures
Who Should Attend
This webinar will be of value to anyone involved in the administration of residential construction loans including Lenders, Loan Processors, Loan Review specialists, Compliance Officers, and Auditors.