Construction Loan Monitoring
At Moran Consultants, we take pride in having a national presence with local knowledge. Thanks to our 50+ years of experience spanning projects and clientele across the United States, we help protect banks, lenders, and other financial institutions from the risks associated with construction lending.
Defining Construction Loan Monitoring
To properly mitigate risk, our team will gather documentation throughout the construction process to gain a clear understanding of issues as they arise. With an emphasis on project cost, time, and quality, we can recommend solutions to ensure a successful project outcome.
Our services consist of a Document and Cost Review and Construction Loan Monitoring. Consultants will work closely with project teams throughout the construction process to gather documentation and minimize risk.
The Document and Cost Review consists of in-depth analysis of project documentation inclusive of design and construction contracts, project team qualifications, drawings, specifications, surveys, budgets, schedules, governing authority approvals, and specialty engineer reports. With the help of our large database, we can complete accurate comparisons regarding project cost, time, and project team experience based on geographic region and specific project type.
Construction Loan Monitoring is also critical to the success of a project. Site inspections are completed monthly with the project team to document work completed on-site, discuss staffing and scheduling issues, target budget issues, potential change orders, review current applications for payment, review monthly project logs, and testing lab reports. Following site inspections, we provide monthly reports documenting the site visit and providing an in-depth review of monthly documentation. Payment application packages are reviewed for percentage completion, percentage billed, amounts requested, amounts recommended for funding, change orders, adequacy of remaining funds, and backup documentation. We also will work with the project team to resolve identified issues prior to the issuance of our report.