Nationwide REO Servicing and Construction Workouts

Assure your portfolio’s success with comprehensive REO asset management services provided by Granite, the experts in construction lending.

Let Granite be your third-party advisor and you will gain instant construction experience with time-tested services and quality-control procedures.

Granite offers a full range of REO asset management services for lenders, mortgage companies and financial institutions.

Granite’s REO services include:

  • Portfolio Due Diligence
  • Executive Summary with Recommendation and Rating
  • National Title Datedowns
  • Statutory (Mechanics’ Lien) Compliance
  • National Permit Search
  • Workout Services
  • Construction Loan Servicing
  • Qualified Inspector Network
  • Project Status and Risk Analysis
  • Contractor Replacement and Bid Evaluation
  • Construction Completion Management

Granite provides timely and thorough support using innovative web-based technology to assist clients with the unique challenges of REOs. Our web-based system lets you track job progress in real time. Completely web-based, Granite clients have 24/7 on-line access to each project for status-at-a-glance, disbursement updates, inspection reports and inspection photos.

Whether you are a small client needing assistance with an influx of REO properties, or a permanent internal REO department in need of default management services, Granite will get your non-performing and distressed assets working for you.

As the national expert in the management of construction lending risks including default management, construction workouts, non-performing assets and REO servicing, Granite has unique insight and processes in place to head off problems before they start.

Portfolio Due Diligence Services
Through an initial review of inactivity, variance, maturity and inspection reports, Granite will identify potential problem loans and provide an Executive Summary in order to risk rate each loan.  Granite’s web-based ordering platform will confirm recorded liens, mortgages, and building permits and attain copies of support documents for recorded liens and permits in a 72-hour service standard.

Project Status and Risk Analysis
Granite coordinates workout site inspections for REO properties to determine project progress. The project information is evaluated and a cost to completion is calculated based on inspector findings and Granite’s proprietary database. Granite will then assign a project risk rating and make a recommendation to finish construction, suspend activity, or remove the existing structure and sell developed land. 

Contractor Replacement and Bid Evaluation
Granite assists with the contractor replacement by presenting one or more qualified contractors and bids to the client. Granite completes a comprehensive review of the contractor’s licenses, references, insurances and personal credit reports. Granite also will obtain, review and analyze construction costs to complete bids.

Construction Completion Management
Granite serves as Project Manager to ensure completion of construction project or facilitate sale of REO asset “as is.” During construction, Granite will establish a schedule for status inspections to monitor the contractor’s progress, review and recommend draw requests and perform risk management reporting and tracking.

 

 

Visit Granite Loan Management

Granite Loan Management
T: 866.710.4099
E: sales@graniteloan.com
W: www.graniteloan.com

Visit Granite Construction Inspections

Granite Construction Inspections
T: 866.380.9504
E: sales@gcinspects.com
W: www.gcinspects.com

Visit Granite Commercial Management

Granite Commercial Management
T: 866.710.4099
E: sales@granitecm.com
W: www.granitecm.com

 



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