Loan Underwriting and Loan Origination Products
Budget Reviews (Residential and Commercial)
Trinity Inspection Services reviews residential and commercial construction plans and budgets to determine if the budget accurately reflects the scope of work necessary to complete the project as designed. Trinity will conduct a detailed review of the plans and specifications, the appraisal, and the cost breakdown to determine potential issues that may put the lender’s collateral at risk.
Upon identification, Trinity communicates areas of risk to the lender, such as front-end loaded budget, misallocated line items, scope and budget inconsistencies, and omitted items – all of which could place the value of the collateral at risk. With Trinity’s prepared budget reviews, lenders can confidently provide funds with the knowledge that the entire construction project is financially feasible.
Builder Information Reports
Should a lender need more information regarding the builder on a project - before or during construction, Trinity can conduct indepth research on the builder’s background. Select from a menu of research items including: Trinity’s builder database, builder application (provided by Trinity or lender), business and contractor license, OFAC, IRS TIN matching, insurance, BBB, judgments, media/news, association memberships, reference checks, criminal background, credit check, builder qualifications and more.
Property Information Reports
Frequently the original title provider or the use of multiple title providers delays completing a fast lien search prior to disbursement funding. Trinity county records search provides lenders with a fast (typically less than 72 hours) lien, mortgagee, tax and legal description report.
Bid Assessments
In an effort to save you time and money, Trinity can also manage bid assessments for you. The company will obtain up to three competing bids for completing a construction project for the lender. Trinity then prepares a scope document, securing up to three bids from local contractors, and then presents the bids to the bank.
Rehab/Remodel Feasibility Analysis
Mitigate the risk associated with rehab/remodeling projects with the Trinity Rehab/Remodel Feasibility Analysis. This onsite feasibility review is conducted with respect to scope of work and budget. The project plans, specifications, construction contract, permits, and appraisal are reviewed to ensure the project’s budget is adequate for the rehab/remodel work to be completed. The report also considers additional repairs that may be required, as well as prepaid expenses.