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Outsourcing construction loan
monitoring and accounting saves Lender's time and money . . .
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- FAS handles the vast
majority of documentation review, accounting, and communication with
the contractor so that loan officers have more time to underwrite and
approve loans resulting in additional income.
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Lender benefits from FAS
Construction Risk Management services include . . .
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- Proactive project involvement
for fees that are generally lower than the cost of a performance bond.
- Up to date information
from construction, architectural, and engineering professionals via
our web-based reporting that will keep your project files virtually
paperless.
- FAS issues checks directly
to parties supplying the goods and services thereby reducing the risk
of liens and maintaining the first lien rights of the Lender.
- FAS fields all calls from
the contractor eliminating the need for Lender's personnel to be bothered
with construction and payment related problems. This maximizes use of
your human resources in your core business of making loans.
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