Residential Land Development and Condominium Loan Review - details
McCary Stevens has completed over $50 billion in commercial mortgage loan analysis since its inception in 1993. The following details some of our assignments:
- Residential Land Development & Condominium Loan Review
- Project description: Executive file review of 29 underperforming residential and condominium loans mostly located in Florida, California and Nevada. Project had a one week turn around requirement. The investor/client needed to understand the potential loss reserve requirement for each loan. The scope of services required an executive summary report for each loan which included: a) a historical outline of the loan since original loan closing, b) market description and analysis, c) local market participant interviews, d) estimate of market value of the underlying asset and potential loss reserve, e) identify key risk factors which could impede an orderly disposition of the asset.
- Turn around time and staffing: Project manager and 7 senior underwriters. Project had an accelerated delivery schedule with a one-week turnaround requirement.