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Covid-19 Mapping Update - Impacted New Markets and Reporting Features

Posted by Jim Fraser on Mar 27, 2020 at 10:21 AM

Recent market updates have been added to Built’s Covid-19 mapping solution for clients’ construction loan portfolios. As of March 26th, 2020, we have expanded our map to include Northwestern states where pandemic impacts have caused state and local officials to expand business restrictions. Built’s technical team is continuing to monitor and will add impacted markets on a daily basis, levering government notifications and public service announcements.

The graphic inserted below is a snapshot of aggregated commitment balances and loan unit counts for total construction loans managed by U.S. lenders (excluding Canada) on Built’s platform showing:

  • $2.76B (16%) of $17.56B total commitments are in impacted markets
  • 2,752 (9%) of 29,570 total loan units are in impacted markets

Built impacted markets

To help clients fine-tune their risk reporting, the Covid-19 Impact Map now reflects additional portfolio information to include:

  • A count of properties impacted and the percentage of total loans affected
  • Loan commitment on impacted properties and percentage of total loan commitments
  • Property Use Types: Consumer (SFR Owner Occupied), Homebuilder (SFR Non-Owner Occupied), Commercial Real Estate
  • Loan-to-Value: Quick reference drill-down to reference LTV
  • Loan Maturity: Quick reference drill-down to monitor projects nearing maturity

Built will continue to provide updates and release enhancements to support construction loan portfolio risk management needs.

Topics: Construction Lending, covid-19

Jim Fraser

Jim Fraser

Jim Fraser has over 30 years of experience in financial services, with an emphasis in construction lending and real estate development. Fraser currently works at Built Technologies as Lending Channel Manager, overseeing Built's construction lending origination and loan administration platform solutions. Built’s platform has supported over $68B in construction commitments as of 2020 and is used by more than 130 of the nation’s leading construction lenders. Prior to working at Built, Fraser was EVP of Commercial Lending at Axos Bank [NYSE: AX], where he was responsible for commercial construction lending, income property, lender finance, equipment leasing and factoring, with a combined portfolio of $5 billion. Previously, Fraser was Managing Director at Banc of California [NYSE: BANC], managing $500 million in residential and CRE construction, including FNMA and FHA renovation lending programs under Banc Home Loans national mortgage lending brand and third-party, fee-based services under RenovationReady, a division of Banc Home Loans. He brings his banking expertise to the Built Technologies team as they build the leading solution for the entire construction finance ecosystem.

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