| The Terramar Team ___________________________ (239) 498-6885 Al@AlBailleres.com |
| Al Baillères (“Bailler”) Consultant Quality Control |
BUILDER REVIEW QUESTIONNAIRE
For consideration of any General contractor to become reviewed by Mortgage Funding Trust for the purpose of general contracting work
General Contractor Name:_____________________________________________________________ Tax ID No.:______________________
Principal's Name: ____________________________________________________________________ S/S No.: _______________________
Address:_________________________________________________________________________________________________________
EMail:__________________________________________________________ Website: __________________________________________
Cell:_______________________ Home:_______________________ Office:________________________ Fax:________________________
Officers' Names Partners' Names
President: _____________________________________________________ __________________________________________________
Vice President: _________________________________________________ ___________________________________________________
Secretary: _____________________________________________________ ___________________________________________________
Treasurer: _____________________________________________________ __________________________________________________
Type of Business: Corporation / Partnership / Individual Contractor's License No.:______________________________________________
State(s) in Which You Do Business:_________________________________________________________________ Years in Business:____
Business Failure or Bankruptcy: No / Yes, please explain:___________________________________________________________________
________________________________________________________________________________________________________________
Current Member of Homeowner"s Warranty Program: No Yes, please complete:
Company Name:__________________________________________________________________ Phone No.:________________________
Address: _________________________________________________________________________________________________________
Two Year History
No. of Homes Built:______________________ No. for Speculators:______________________ No. for Owners:________________________
Insurance Coverage
Liability Amount: $___________________ Agent:____________________________________________ Phone No.:____________________
Workman's Comp: $_________________ Agent:____________________________________________ Phone No.:_____________________
Financial References
Company Name:_________________________________ Contact Name:____________________________ Phone No.:________________
Company Name:_________________________________ Contact Name:____________________________ Phone No.:________________
Supplier References
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
I/We authorize Mortgage Funding Trust, its successors and/or assigns, to obtain a credit report and to contact those firms and/or persons listed
above for references that would apply to myself individually or to my corporation/partnership.
By:_________________________________________________________________________________ Date:________________________
For consideration of any General contractor to become reviewed by Mortgage Funding Trust for the purpose of general contracting work
General Contractor Name:_____________________________________________________________ Tax ID No.:______________________
Principal's Name: ____________________________________________________________________ S/S No.: _______________________
Address:_________________________________________________________________________________________________________
EMail:__________________________________________________________ Website: __________________________________________
Cell:_______________________ Home:_______________________ Office:________________________ Fax:________________________
Officers' Names Partners' Names
President: _____________________________________________________ __________________________________________________
Vice President: _________________________________________________ ___________________________________________________
Secretary: _____________________________________________________ ___________________________________________________
Treasurer: _____________________________________________________ __________________________________________________
Type of Business: Corporation / Partnership / Individual Contractor's License No.:______________________________________________
State(s) in Which You Do Business:_________________________________________________________________ Years in Business:____
Business Failure or Bankruptcy: No / Yes, please explain:___________________________________________________________________
________________________________________________________________________________________________________________
Current Member of Homeowner"s Warranty Program: No Yes, please complete:
Company Name:__________________________________________________________________ Phone No.:________________________
Address: _________________________________________________________________________________________________________
Two Year History
No. of Homes Built:______________________ No. for Speculators:______________________ No. for Owners:________________________
Insurance Coverage
Liability Amount: $___________________ Agent:____________________________________________ Phone No.:____________________
Workman's Comp: $_________________ Agent:____________________________________________ Phone No.:_____________________
Financial References
Company Name:_________________________________ Contact Name:____________________________ Phone No.:________________
Company Name:_________________________________ Contact Name:____________________________ Phone No.:________________
Supplier References
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
Company Name:__________________________________ Contact Name:___________________________ Phone No.:________________
I/We authorize Mortgage Funding Trust, its successors and/or assigns, to obtain a credit report and to contact those firms and/or persons listed
above for references that would apply to myself individually or to my corporation/partnership.
By:_________________________________________________________________________________ Date:________________________
Contractor/Builder DOCUMENTATION CHECKLIST
Please include the following items for review:
- Last year's tax return - corporate if corporation or personal if sole proprietorship
- W 9, if sole proprietorship
- Resume(s) of officers/partners
- Copy of general contractor's license
- Copy of general liability insurance showing loss payee:
3616 McComb Ln
Bonita Springs, FL 34134
Rev. 11/1/04 Page 1 of 1
CONSTRUCTION-PERM
PROCESSING CHECKLIST
Borrower's Name: __________________________________ Loan No.: __________________________________
Broker Name: Mortgage Funding Trust Client ID No.: ________________________________
Contact Name: ___________________ Phone No.: _____________________ Fax No.: ______________________
In order to streamline the C/P approval process, this C/P Processing Checklist should be completed and included
with the file when submitted to underwriting.
Construction Loan Agreement
Construction Draw Schedule
Interest Rate disclosure
Submitted By: ______________________________________________________ Date: _____________________
Reviewed By: ____________________________________________, underwriter Date: _____________________
CONSTRUCTION-PERM
PROCESSING CHECKLIST
Borrower's Name: __________________________________ Loan No.: __________________________________
Broker Name: Mortgage Funding Trust Client ID No.: ________________________________
Contact Name: ___________________ Phone No.: _____________________ Fax No.: ______________________
In order to streamline the C/P approval process, this C/P Processing Checklist should be completed and included
with the file when submitted to underwriting.
- Construction contract and all addendums executed by all borrowers and builder. Call builder prior to
submission to confirm final contract. - Lot contract and all addendums executed by all borrowers and sellers. If purchasing lot separate frombuilder,
verify the lot contract price is not included in the builder's cost breakdown and not in construction contract. - If lot contract is not required, provide recorded Warranty Deed for subject lot. MUST obtain from builder or
borrower, whoever is currently on title. If the borrower owns the lot, include a lot payoff statement or evidence
that property is owned free and clear via HUD 1, title binder, etc. - If there is a separate pool contract between borrowers and pool company, verify that the pool contract cost is
not included in the builder's cost breakdown. Obtain completed contract executed by all borrowers and pool
contractor. The pool contractor must also be approved by LENDER. - Signed builder's cost breakdown. Verify that the final cost matches the construction contract. Note: The
borrowers don't have access to the cost breakdown unless the builder authorizes it. - The builder's cost breakdown should not include a "lot allowance". If there is an allowance, please obtain the
lot contract and the builder's cost breakdown should be corrected to remove the lot allowance. - Construction plans are signed and dated by all borrowers and builder, preferably on the floor plan.
- Specifications are signed and dated by all borrowers and builder.
- Acceptable plot plan provided. Please refer to program descriptions for additional FHA and VA requirements.
- If the builder is paying closing costs, this amount must be specified in the construction contract. Please list
how much: $___________________. LENDER will advance 10% of the cost of construction to the builder at
closing, plus real estate commission. Builder paid closing costs are included in this 10% advance. If the
builder requires additional funds at the first closing, prior LENDER approval is required. Please attach a
written request and breakdown of funds needed at the first closing if more than 10%. Note: This does not
pertain to the FNMA Permanent Foundation Program. - If a real estate commission will be paid at the first closing, a statement to this affect needs to be signed by all
borrowers and builder. Please state how much: $___________________. LENDER will disburse these funds,
as instructed. - The construction contract must state who will be making the interest and insurance payments during
construction. Please state who will be responsible: builder borrower. Note: VA requires the builder to pay
these charges. - Please indicate if the builder is providing builder's risk insurance during construction: No / Yes. If not, the
borrower is required to provide homeowner's insurance during construction which requires an additional six
months of insurance escrows. - Please advise the borrowers that escrows will be collected at the first closing. the following amounts must be
disclosed on the Good Faith Estimate and signed by all borrowers:
- Homeowner's and Flood Insurance: Fourteen months at estimated insurance amount OR if builder is
providing builder's risk insurance, zero months from borrowers;
- Taxes: Six months plus normal collection depending on the month the loan is closing;
- Conventional Mortgage Insurance: One month - Please indicate if the borrowers are required to bring funds to closing: No / Yes. If the loan amount is less
than the cost of construction, the borrowers must bring the difference to the first closing. This must be placed
in the LIP account and must be addressed at submission so the appropriate documentation can be sent to the
first closing. It is not LENDER authorized to allow borrowers to pay the builder directly. - Please indicate is the borrowers and builder have completed the Construction Interest Mailing Information
Sheet: No / Yes. This must be included in the loan file at the time of underwriting submission. - The Good Faith Estimate must show all C/P and inspection fees and who is paying.
- The following disclosures are executed by all parties. If not, loan will be conditioned for the disclosures to be
executed at the first closing . . .
Construction Loan Agreement
Construction Draw Schedule
Interest Rate disclosure
Submitted By: ______________________________________________________ Date: _____________________
Reviewed By: ____________________________________________, underwriter Date: _____________________
Page 1 of 1
ON FHA CASES
4-3, B.: PROPOSED CONSTRUCTION (05/99)
Appraise proposed construction consistent with the methodology presented in this chapter. USPAP requires that
the appraiser be provided with written specifications of the proposed structure. Specifically, the Lender must
provide the appraiser with these documents:
• builder's plans*, specifications and construction documents
• completed builder's certification (Form HUD-92541)
• Builder's Warranty (Form HUD-92544)
• the 10-year Warranty, when required (the Secretary has proposed a 1-year Homeowner Warranty period)
• all reports and information available (i.e., sales agreement, title report, environmental assessments or
studies and inspection reports)
> If these documents are not provided, return the incomplete appraisal to the lender. Check the box stating
that the valuation is subject to completion and that the value is contingent on the structure receiving a
certificate of occupancy.
* In the event the property is located in a jurisdiction that does not approve plans then the following documents are required:
Plot Plan (including dwelling and accessory buildings, finish grade elevations and direction of drainage)
Floor plan (separate foundation plan and plan of each floor and basement, if any)
Kitchen cabinet details
Electrical layout
Heat layout (ductwork and location of all vents)
Heat loss calculations
Cooling system layout
Exterior elevations (front, side and rear)
Sections (exterior wall sections, stairwells, and stairs)
Fireplace section and elevations
Roof truss details
Water supply plans and specifications
Sewage system plans and specifications
Individual water supply and sewage disposal systems, if applicable
Description of materials HUD Form 92005
For FHA construction-perm general requirements, go to http://www.hud.gov/offices/hsg/sfh/ref/sfhp1-8c.cfm
ON FHA CASES
4-3, B.: PROPOSED CONSTRUCTION (05/99)
Appraise proposed construction consistent with the methodology presented in this chapter. USPAP requires that
the appraiser be provided with written specifications of the proposed structure. Specifically, the Lender must
provide the appraiser with these documents:
• builder's plans*, specifications and construction documents
• completed builder's certification (Form HUD-92541)
• Builder's Warranty (Form HUD-92544)
• the 10-year Warranty, when required (the Secretary has proposed a 1-year Homeowner Warranty period)
• all reports and information available (i.e., sales agreement, title report, environmental assessments or
studies and inspection reports)
> If these documents are not provided, return the incomplete appraisal to the lender. Check the box stating
that the valuation is subject to completion and that the value is contingent on the structure receiving a
certificate of occupancy.
* In the event the property is located in a jurisdiction that does not approve plans then the following documents are required:
Plot Plan (including dwelling and accessory buildings, finish grade elevations and direction of drainage)
Floor plan (separate foundation plan and plan of each floor and basement, if any)
Kitchen cabinet details
Electrical layout
Heat layout (ductwork and location of all vents)
Heat loss calculations
Cooling system layout
Exterior elevations (front, side and rear)
Sections (exterior wall sections, stairwells, and stairs)
Fireplace section and elevations
Roof truss details
Water supply plans and specifications
Sewage system plans and specifications
Individual water supply and sewage disposal systems, if applicable
Description of materials HUD Form 92005
For FHA construction-perm general requirements, go to http://www.hud.gov/offices/hsg/sfh/ref/sfhp1-8c.cfm