Construction Loan Considerations During the COVID-19 Pandemic
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Construction lending calls for a high degree of accuracy in order to mitigate its inherent risks, yet the COVID-19 pandemic has made business much more difficult and complex. Bearing this in mind, market participants must shift their focus when reviewing construction loans. These considerations will not only ensure the safety of the entire process, but also decrease the risk of losses and lawsuits in these troublesome times.
2:00-3:00 PM ET
- Reasonable comps and realistic cap rates
- Backing the construction advance process with inspections by qualified professionals
- Making sure borrowers are personally invested in the business with cash upfront
- Ensuring contingencies to cover cost excess and operating expenses
- Tracking material and labor delays on a project and pressure testing for liquidity requirements
Who Should Attend?
- Construction Lenders (Head of CRE, Chief Lending Officer)
- Heads of Loan Operations
- Loan Administrators
- Asset Managers
- Junior to mid-level CRE finance professionals
- Will Mitchell, CEO, Rabbet