Loan And Mortgage Monitoring

Celtic Project Services (CPS) has the advantage of being involved in a variety of projects from $70 million down to smaller projects in the hundred thousand ranges. Our project experiences incorporates the multi-family residential sector, sports facilities, tourism, and recreational facilities, corporate office projects, health facilities, commercial and retail projects, malls, Olympic venues and specialty projects such as Museums, just to name a few.

More appropriately CPS can offer Loan Monitoring Services with the purpose of delivering a quality service for Lenders and Borrowers.

Celtic Project Services is aware that Loan Monitoring is a primary role to minimize the Lender’s risk exposure in the administration of its loan. The Loan Monitor’s area of influence in the mitigation of the Lender’s risk exposure can be summarized as follows:
  • The exercise of pre-construction due diligence in ensuring that the project budget is reasonable, adequate and realistically allocated to the various hard and soft cost budget elements.
  • The review and reporting of supporting documentation, schedule, cash flow, contracts, bonds, insurances, etc.
  • The provision of knowledgeable and experienced personnel to undertake site visits during construction and to thereby accurately assess the value of work in place and the cost to complete.
  • Early communication with both the Lender and the Borrower regarding possible cost overruns, which may affect the status of the loan agreement.
Celtic Project Services can provide loan monitoring services to the commercial, industrial, and residential construction sectors ensuring and orderly, timely and accurate flow of funds between Lenders and Borrowers during the construction period.

With Celtic Project Services Ltd. placed between the Lender and Borrower bridges the knowledge gap between financier and constructor, mitigating the financier risk of over advancing funds for the project while assisting in both the Borrrower and Lender to understand the concerns of the other.

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#3 4948 126th Avenue SE
Calgary, Alberta T2Z 0A9
Tel# 403.726.2340
Fax# 403.726.2342