Insuring construction loans takes on added risk in Illinois and Missouri because unlike most states, mechanics liens have priority over the construction mortgage or deed of trust. Because of this high risk level, there are fundamental components and best practices that need to be followed to help reduce as much of this risk as possible.
There is also the need to maintain a smooth and orderly disbursement process to facilitate timely payments to avoid interfering with the flow of construction. We know the law, we know the practicalities of disbursing and we know how to use our business judgment to modify processes without increasing business risk, allowing us to set up a project protocol that works to the optimal benefit of all parties.
We have developed our own proprietary disbursing program to assist us in this endeavor and we routinely customize reports to fit the particular needs of each client.
Whether you are a homebuilder, building your first home, remodeling, or an investor, we have the expertise to handle your project and provide guidance from start to finish, from title issues to construction disbursement.
For larger commercial projects, we have experience in both Illinois and Missouri, can track budgets at category and subcategory levels, with up to 10 sources of funding. And we can print checks for pick up at any of our 18 locations.