You want to be assured that your funding of a residential or commercial construction loan is consistent with work completed and the request for payment, to avoid excess funding with related carrying costs. This is a useful service that can be offered to potential customers. Under the direction of a Certified Construction Inspector, our field staff is prepared to conduct a site visit to assess progress. The Upcon field staff can report on a wide variety of construction projects, including site development, large commercial buildings and single/multi-family residences. Upcon provides comprehensive reports and Percent of Completion analysis based on a review of the Sworn Statement and, when possible, on-site visits with Builders, Property Managers/Developers. We evaluate work in place and to better help construction timelines. We review the sworn statement of developers/contractors to understand project costs and to determine if remaining funds are sufficient to complete the identified work
We understand that your best interest is served by preserving the equity value of the collateral abandoned by a borrower. If directed, the Upcon field staff will change entry locks and otherwise secure the property to prevent unauthorized access, winterize plumbing and heating systems, remove trash and debris, repair damage and prepare the property for conveyance
We accept assignments to ensure that property in status between sale and realtor listing is prepared, photographed and made ready for market
We can conduct analysis of bid proposals to help mitigate change orders and budget over-runs.
When you are unable to contact a delinquent borrower, your inspection order will initiate a visit by our field staff. We will determine the status of occupancy, the exterior and overall condition of the identified building and characteristics of the surrounding neighborhood.
Upcon can initiate weekly, biweekly or monthly occupancy confirmation inspections. We will monitor and report to you the status of occupancy and condition of the property.
Delinquent Loan Inspections:
We conduct face-to-face interviews to obtain detailed information about a delinquent borrower. We will obtain information you have not been able to secure by telephone. Our report will include the borrower’s current telephone number, place of employment, reason for delinquency and plans for bringing the account current.
Your specifically designed call back notice will be left at a property when a borrower is not present. The borrower will clearly understand the requirement to contact the lender/servicer immediately to resolve delinquency issues. Our clients find that delinquent borrowers respond to both site visit and/or call back notice, significantly reducing the number of delinquent accounts.
Insurance Loss Inspections:
Prior to releasing funds from an insurance loss payout, Upcon will schedule a site visit with the property owner to confirm that the work outlined has been completed.
Fannie Mae Annual Inspection Reports
Freddie Mac Annual Reports