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CMC offers reports and services that cover the entire construction process, from pre-construction assessments to post-construction and closeouts
Construction Risk Management
Reduce construction loan risk.

Our team serves clients by providing expert analysis and advice to safeguard their interests during project construction and delivery. Our services can be customized to meet our client's needs based on project size, type, budget, borrower relationship and risk position.

Our Construction Oversight services are typically provided in three (3) phases:

Phase 1: Pre-Construction
Assess:
  • Condition of existing buildings
Review and Analyze:
  • Plans, drawings and specifications
  • Regulatory documents
  • Contract documents: design, construction, and loan (BLA)
  • Construction and disbursement schedules
  • Direct cost budget for appropriateness
  • Contingency budget(s)
Recommend:
  • Bonding or sub-guard insurance requirements
Deliver:
  • Plan & Cost Report
Phase 2: Construction
Perform:
  • Monthly project site visits and walk-throughs
  • Photographic documentation of progress
Attend:
  • Monthly project meetings
Review, Track, and Analyze:
  • Payment requisitions, invoices, and budget reconciliation
  • Current Partial Lien Waivers
  • Change Orders and Potential Change Orders
  • Contingency funding, availability, and shortfalls
  • Ongoing buyout status
  • Construction and unit delivery schedules
  • Construction progress
  • Work-in-Place and Cost-to-Complete
  • Quality of workmanship and exceptions to the work
Attend:
Recommend:
  • Disbursement amount
Attend:
Deliver:
  • Site Visit Report
Phase 3: Completion
Review and Track:
  • Substantial completion
  • Final lien waivers
  • Punch list
  • Temporary and permanent Certificates of Occupancy
  • Contractors' Certificates of Completion
  • Architect's Certificate of Compliance
  • Consents of Surety
  • As-built plans
  • Warranty information
Recommend:
  • Final advance
Deliver:
  • Closeout Report
Property Due Diligence
Understand what you have.

A Property Needs Assessment (PNA) identifies a property's general physical condition and quality of improvements. CMC's experienced professionals detect and present deficiencies that could have an adverse impact on the property's cash flow, function, marketability and ultimate value.

PNA reports can include an Expected Useful Life (EUL) analysis with replacement costs. This allows clients to identify, quantify, and budget the necessary funding for future building repairs and replacements. Clients often utilize this service for proactive portfolio management. As properties age, expenditures for replacements and improvements are imperative to maintaining an asset's value. Inadequate replacement reserve may result in substantial physical deterioration of the asset, which will in turn adversely affect its collateral value and significantly increase an investor's risk over term.

PNA Report Types

CMC offers four distinct PNA report formats. Each is tailored to meet a specific requirement or standard. Each may be supplemented with custom useful life analysis and capital cost tables:

Pre-Construction
A comprehensive report which is prepared in conjunction with a Plan and Cost Review Report where demolition and/or renovation is involved in a project. The purpose of this report is to ensure existing conditions of the property and site are included and accurately accounted for in the proposed Plans and Specs for the project.
Limited
A basic report format which is limited in scope to “major” building components and systems. This report does not include replacement or repair cost(s) estimates. This report is intended to identify “major” building issues for informational purposes only.
ASTM
A comprehensive report prepared in accordance with the ASTM E2018 Standard. Typically the standard for our EUL reports.
FNMA/FMAC
A specific report format prepared in accordance with FNMA/FHLMC requirements and DUS standards.
Portfolio Management
All your projects, one screen.

Most lenders find it difficult to understand their entire loan portfolio. They might understand specific projects well, but have trouble identifying:

  • Which projects are most behind schedule?
  • Which projects are over-budget and need contingency adjustment?
  • What projects have upcoming inspections and when are they due?
  • Which reports need review?
  • How are projects progressing toward completion? When will monies be available for new projects and how much?
  • How are my projects clustering from the perspective of geographical footprint?

More generally, Lenders have trouble knowing:

  • Is my loan portfolio healthy or at-risk?
  • What projects should I pay attention to most?

CMC provides lenders, free of charge, an advanced portfolio dashboard.

Lenders can sign in and view all their projects handled by vendors who use StructDB™.

In-depth information about lender dashboards can be found at their site.

Historic Preservation
NPS Compliance and Tax Credits

CMC offers complete assessment and tracking of Historic Preservation tax credit items for both the National Parks Service (NPS) and New York's State Historic Preservation Office (SHPO).

We offer reports that cover both the application process and compliance during construction:

NPS Application, Pre-Shovel
Perform:
  • Single visit to determine NPS submission conformance
Review and Track:
  • Conformance of construction with Work Items in the application
Deliver:
  • NPS Application Report
NPS Compliance, Post-Shovel
Perform:
  • Monthly project visits to monitor conformance
Review and Track:
  • Submissions
  • Conditions
  • Commitments
  • Plan conformance of proposed Work Items
Deliver:
  • NPS Construction Conformance Report
Distressed Assets and Loan Workout
Right the ship.

CMC's experienced team can assess your project and create an appropriate action plan to resolve the issues associated with a problem project. Our services are intended to complement in-house capabilities while allowing the lender/investor or owner to maintain control of the overall process and to dictate the course of action.

Every assignment is tailored to each client's particular needs or requirements. CMC approaches each assignment with a commitment to identifying and implementing an efficient and effective solution.
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