cls product summary

Construction Lending Services Service Summary

Integrating technology with people and business processes.™

www.trinityonline.com

Trinity’s Products and Services

Trinity Inspection Services provides the nation’s mortgage lenders and banks with specialty inspections and construction lending services. Our extensive list of products provide a solution that will meet all your lending related needs. We will deliver superior customer service, technology innovations and industry-leading turn times in order to decrease your risk and improve your business processes.

Loan Process

Products & Services Loan Origination

Loan Underwriting

Loan Management

Asset Management

Acquisition & Development (A&D) Builder Information Review (BIR)

On-Site Training Property Survey

Plans & Specs Appraisal Contract Review (CR)

Property Survey Budget Review (BR)

Research and Retrieval Environmental Services

Bid Assessment Estimate-To-Complete (ETC)

Engineering Rehab/Remodel Feasibility Assessment

203k Compliance Inspection Draw Inspection

ezRCL™ Permit Validation

Property Information Report (PIR) Property Characteristics Report (PCR)

1004D Appraisal Update and/or Completion Report

Quality Control Inspections On-Site Assessment Disaster Inspections

Property For Sale (PFS) Broker Price Opinion (BPO)

ezFinish™ Occupancy Inspection

Project Costing Property Preservation

Troubled Asset Management

Product Definitions

203k Compliance Inspection- Trinity will determine if the repairs or improvements required to bring the property into compliance with local and state regulations have been completed. 1004D Appraisal Update and/or Completion Report – Using Fannie Mae/Freddie Mac’s form, we dispatch an appraiser to visit a partially or fully completed construction project. Our appraisers will determine whether the project and property repairs have been completed in accordance with the requirements and conditions stated in the original appraisal report. The cost to cure items are also reviewed. Acquisition and Development (A&D) – Trinity can assist with preparing raw land to build subdivisions, malls or strip centers. Common A&D projects include clearing and grading land, installing sewage drains, installing lighting, setting up curb and gutters, paving streets and other common areas. Bid Evaluation – Trinity will obtain up to three competing bids for local contractors. Our risk team will then prepare a scope of work analysis using the three bids, and consult with the lender on the necessary steps to complete the project. Broker Price Opinion (BPO) – Trinity’s extensive network of real estate brokers provide timely, accurate and professional BPO reports. Our report includes an estimated selling price based on the current property’s conditions and the local real estate market, photos of the property, comparable properties and a desktop review by an industry expert. Budget Review – Trinity reviews residential and commercial construction plans and budgets to determine if the budget accurately reflects the scope of work necessary to complete the project as designed. A Trinity Construction Management Specialist will conduct a detailed review of the plans and specifications, the appraisal and the cost breakdown to determine potential issues that may put the lender’s collateral at risk. Upon identification, Trinity communicates areas of risk to the lender, such as front-end loaded budget, misallocated line items, scope and budget inconsistencies and omitted items – all of which could place the value of the asset at risk. Builder Information Review – Trinity can conduct in-depth research on a builder’s background to help reduce your risk and ensure you only work with reputable builders. We can research and review the following items: Trinity’s builder database, builder application, business and contractor license, OFAC, IRS TIN matching, insurance, BBB, judgments, media/news, association memberships, reference checks, criminal background, credit check, builder quali-fications and more. Contract Review –Trinity completes an administrative review of a builder’s contract for key clauses and language, in order to mitigate risk and better assess the builder’s construction experience. We search for items such as an insur-ance policy, accurate timeline, cost breakdown and an accurate scope of work. Draw Inspections – A draw inspection is an assessment of the progress of a construction project in order to determine the appropriate amount of funds to disburse to the borrower. Each report is evaluated by our risk management team. Additional services include ezRCL™, ezVideo™ and PCR to make the process easier on a lender’s construction lending team. Disaster Inspections – Trinity can provide a Disaster Inspection report that summarizes the exterior condition of a property and surrounding neighborhood. Our professionally trained inspectors will assess the severity of any damage and list repair recommendation.

Product Definitions Engineering – When legal issues or structural concerns arise during construction, engineering expertise is required to analyze the situation and mitigate project delays. Trinity contracts a certified engineer to assess the property for problems such as foundation or structural concerns, and to recommend potential solutions. Each project is then reviewed by our centralized Risk Management department before you receive our final recommendation. Estimate-To-Complete (ETC) – Trinity assesses a partially completed construction project to determine the cost to complete or provide recommendations such as torch, level or clear the project. Our risk management team reviews the plans and specifications, builder’s contract and lender’s cost breakdown. Each category is viewed in relation to the whole project for reasonability, missing funds, line items included in the appraisal but not the project budget and unclear fund allocations across line items. ezFinish™ – A customizable solution to minimize financial loss on an unfinished, foreclosed new construction property. Our staff of experienced Construction Management Specialists will manage all aspects of the project’s completion to make the property ready for sale. ezRCL™ - A web solution that helps lenders speed through the draw disbursement and inspection fulfillment process by allowing builders and borrowers to request draws through a private label or generic web site. This technology solution can coordinate date downs and inspections, while keeping the lender in control and the borrower up-to-date. Feasibility Analysis – This on-site review is conducted with respect to scope of work and budget. The project plans, specifications, construction contract, permits and appraisal are reviewed to ensure the project’s budget is adequate for the work to be completed. The report also considers additional repairs that may be required, as well as prepaid expenses. Occupancy Inspection – An occupancy inspection from Trinity includes photos and a description of the property, informing our client whether a property is occupied by the mortgagee, abandoned or is in disrepair. Our inspectors can schedule a meeting with the mortgagee or simply drive-by the property to verify occupancy On-Site Assessment – Some VIP projects require someone from our risk management team to be directly involved on-site with a project (especially a nonperforming asset). Our team’s extensive experience and hands-on construction knowledge allows them to serve as an expert for you. On-Site and Webinar Training –We offer complimentary on-site classroom training to our clients’ construction team (loan officers, disbursement team, customer service, risk, underwriting, etc.), so they may thoroughly understand the new construction process. Currently, we offer Construction 101, Construction 201 and Appraisal 101 classes. Permit Validation – Trinity will confirm whether a jurisdiction requires permits for a construction project and if so, will determine the status of a permit. Plan and Specs Appraisal –Trinity has experienced appraisers who can accurately evaluate blueprint appraisals. The Trinity process includes an administrative review, which confirms the Uniform Residential Appraisal Report (URAR) is completed in accordance with the plans and specs provided. Project Costing - Trinity will review plans & specs, soils report, wetland conditions, environmental concerns, cost breakdown analysis, construction contracts, development agreements and identify any potential for cost overruns.

Product Definitions

Property Characteristics Report (PCR) – Integrated with our draw inspection service, the PCR compares key construction characteristics to the property appraisal. The property characteristics compared include: number of stories, bedrooms, baths, fireplaces, garages, driveway type, below ground level construction, water and sewer connection and exterior finish. Discrepancies are flagged to the lender. Property For Sale (PFS) – A borrower or homeowner may “silently” list their property for sale. Trinity offers a nationwide database lookup based on property address which will verify within 72 hours the status of the property. If the property is listed as being for sale, Trinity reports the date listed, list price and the realtor’s name and number. Property Information Report (PIR) – Frequently the original title provider or the use of multiple title providers delays completing a fast lien search prior to disbursement funding. Trinity’s search of county records provide lenders with a fast (typically less than 72 hours) lien, name of the mortgagee, tax and legal description report. Property Preservation – Trinity is a full service nationwide property preservation, REO maintenance and repair services vendor. Our services protect and maintain new construction or existing properties that have entered the default or foreclosure process. Quality Control Inspections – Trinity’s experience and reputation in construction lending services makes our company a leader in the industry. As such, we will review other inspection companies’ draw inspection reports as part of the lender’s internal or external audit and compliance process. Research and Retrieval – Blueprints, fire code ordinances, court documents, compliance records and other public documents are sometimes difficult to obtain when not all county and city records are stored electronically. With our service, you can receive public documents from anywhere in the nation in a fraction of the time. Site Information Report – Trinity’s Site Information Report provides a detailed snapshot of a property including the physical characteristics of the building, local points of interest, photos of the property and possible environmental concerns. Troubled Asset Management - Trinity provides services for all stages of managing troubled assets including inactive new construction projects, pre-foreclosed properties and REO assets.

Contact Information

Brad Meyer, President/CEO

Email: [email protected]

Direct: 972.865.0205

Fax: 972.865.0221

Doug Harrison, CFO/COO


Direct: 972.865.0206

Fax: 972.865.0486

Trinity Inspection Services, Inc. 4851 LBJ Freeway

Suite 410

Dallas, TX 75244

Main: 972.865.0200

Fax: 972.865.0219


Web: www.TrinityOnline.com

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