Press Releases
Trinity Real Estate Solutions Introduces Risk Management Services Bundle for Residential New Construction Lenders
Lower Market Projections Increase Lenders – Need for Better Cost Performance
DALLAS, Texas, (September 28, 2006) – Trinity Real Estate Solutions, a national construction lender services management company, today announced the launch of a new services bundle of its specialty risk management products. Each product is designed to enable lenders across the nation to better manage the risks and costs of residential new construction loans as the U.S. market continues to decline according to industry projections. The new services bundle includes residential new construction inspections and process management tools such as construction training, inactivity reporting, troubled asset evaluations, and more.
"We developed and introduced this special bundle of services for our new construction lending customers as an early response to their increasing risk pressures of a declining market." said Brad Meyer, President of Trinity Real Estate Solutions. "We understand what our customers are facing in the marketplace, and we definitely have the expertise to make a difference for them in managing risks and costs through this special services bundle."
Trinity's new bundle includes eight risk management specialty services that the company has provided individually to a number of its customers, but now are specifically focused on performance and cost efficiency in more challenging conditions of a slower market. The services include:
- Construction Training - Advanced information and onsite training for new construction lending staff and loan officer/servicing reps with emphasis on construction terminology and building process, reinforced with visual examples and testing.
- Budget Review - Proactive approach to improve future disbursement management through analysis of construction projects identifying missing or misallocated items in the cost break down.
- Clear Lot Inspection - Confirms construction has not started prior to closing.
- Estimate to Complete - Provides lenders tools to maximize the profitability of troubled assets.
- Compliance Progress Review - Helps restart stalled projects and mitigate scheduling risks.
- Compliance Check - Crosschecking residential new construction projects to determine if the property is silently listed for sale.
- Construction Research & Resolution - A true research and development analysis of the most challenging and unique construction issues. (i.e. straw as insulation)
- Process Flow - On site evaluation of current process flow including mapping, gap analysis and ideation.
"Initial response to our risk management services has been strong, and that says a lot since we already have an overall high level of satisfaction and expectation from our customers," Meyer said. "What that really says, I believe, is that lenders not only like what we are doing for them, but also appreciate that we know them well enough and care to anticipate their needs in a slowing market."
About Trinity Real Estate Solutions:
Trinity Real Estate Solutions, Inc. is a family of companies that offer extensive experience and state of the art online technology to provide the construction lending industry with high quality ordering, tracking and delivery of residential new construction and renovation property services. Services are provided through its subsidiaries Trinity Inspection Services, Trinity Field Services and Trinity Appraisal Services, in all 50 states. For more information about Trinity's services, please e-mail info@trinityonline.com or call 888-573-8025.