Loan Collateral (detailed description) Documents of Incorporation, EIN number, Purchase Price, Loan Amount, P&L or Rent Roll & Contract & Land (size), Title Insurance. Survey, Architect & General Contractor
Loan Application & Origination
New Construction Development Hotel & Apartment loans must be organized and structured with the initial Contractor Reports:
Feasibility Study Report
Project Designated Architect AIA Plans & Specifications with Artist Rendering
Architect will reconcile and carry out property contruction inspection with retainage and draw request confirmation
GeoTech Soils Report
Land PSA Contract or Settlement Statement if owned in advance of the subject loan.
Zoning and Planning Approval with the Architects Survey and footings delineation.
Designation of the General Contractor with Bid and Analysis spread sheet statistics
Franchise Agreement Approval with the receipt of a letter from Franchise of Owner approval in advance.
Survey easements and restrictions
Financial Statements & Projected P&L Proforma
The loan process is fully processed within the 60 days for a seasoned hotel loan. New Construction & Development should be near completion within the 90 day mark.
Bancorp MBS Asset Backed Securities
Regional Origination Center Atlanta
Underwriting and Analysis
3340 Peachtree Road NE Buckhead GA 30326
US Canada UK, Tokyo, Caribbean, Latin America Bermuda & Hawaii
Wells Fargo Business Center
Legal Office Center
433 North Canden Drive 6th Floor
Beverly Hills California 90210
Marriott Business Services
1965 Hawks Landing
Louisville TN 37777