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Today is: February 22, 2018  

Compliance Companion®
Standard Procedures Manuals (SPM)

Construction Lending July 2017

This Manual is designed for both the construction lending specialist and those new to construction lending as a comprehensive resource regarding the broad range of issues presented by this complex field of lending. The Manual discusses the following topics.

  • Due Diligence – such as verifying borrowers and guarantors (including the proper documentation to obtain for each type of borrowing entity), evaluating a construction project and the real estate collateral, environmental due diligence, and tax and judgment liens.
  • Regulatory Issues – including real estate lending standards, lending limits, appraisal regulations, flood insurance and ECOA/Regulation B matters.
  • Construction Loan Documentation – how to document a construction loan, including the terms of the letter of intent, construction loan agreement, promissory note, construction deed of trust, assignment of rents, authorization to borrow and subordination agreements.
  • Related Issues – such as guaranties, mechanics liens and stop notices, credit enhancements (such as letters of credit), title insurance and endorsements appropriate for construction loans, other types of insurance and how to protect the lender’s interest in those policies.

The text of this Manual is 575 pages, plus 71 pages of appendices.


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