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PAGE SECONDARY
MARKET INVESTOR DILIGENCE CASUALTY
LOSS INSPECTION'S |
Our Casualty Loss Inspections of Performing Loan Collateral (CLPL) focus on the casualty loss either immediately after the casualty loss event, or at a subsequent time during the curative work process. The inspection will typically include a meeting on-site with borrower and/or the borrower's representative to verify; the extent of the casualty damage, cost to repair, the repair schedule, and a subsequent on-site inspection to verify the completion status of the casualty curative work (ratio of completion, or completion of work, which ever is applicable). The actual scope of all communication with the owner and/or property manager is limited to the Lender's specific casualty loss diligence needs. The scope of the Casualty Loss Inspection may be limited to verifying any particular loss event, the casualty event's impact on the economic competitiveness of the Subject property, or the completion status of the particular curative work by the owner. |