About Us and Our Risk Mitigation Services
Granite Companies was formed in 1994, through Institutional Loan Management. The primary focus was to assist lenders with damaged collateral related to natural disasters. Our initial services included providing project evaluation and risk management consulting services. We developed a comprehensive project assessment for each damaged property, which the lender utilized to repair the asset and minimize losses. In 1998, based upon the lending industry’s expansion and construction growth, Granite Companies identified a specialty niche in delivering Construction Risk Mitigation Services. The realization resulted in a new operational direction, and the subsequent launch of The Granite™ Risk Mitigation System.
Granite Companies’ executives transformed the company into a nationwide Risk Management Company that would offer strategic technology and a full suite of services for financial institutions, private equity, government agencies, insurance, and title companies in the residential construction market. Services included proprietary software for Contractor Acceptance, Project Underwriting, development of a National Inspector Network, Portfolio Tracking, and nationwide Funds Administration Services (Project-At-a-Glance™). Additionally, Granite Companies provided consulting services (credit policy development, operational procedures, and loan documentation review) to assist lenders with launching a new construction loan program.
A focus in commercial construction was added in 2005 with an emphasis on SBA lenders. Our experience included managing small SBA projects ranging in size from $200K to $5 million and commercial projects ranging in size from $5 million to more than $100 million.
In 2008, with the economic downturn, default management became the new focus. For the next several years, Granite Companies managed financially impaired and defaulted construction projects for lenders of all types, and in 2009, became the primary Construction Loan Manager (CLM) for the FDIC to manage failed financial institution construction loans.
Currently, Granite Companies continues to expand our partnerships with lenders in the residential and commercial construction markets through our risk mitigation services.
Our goal, in every client partnership, is to exceed expectations for quality, timeliness, and customer service. Granite Companies’ broad knowledge, combined with our years of national experience provides us with the ability to stop problems before they start. Our scalable and comprehensive The Granite™ Risk Mitigation System delivers a system of checks and balances that reduces a lender’s risk without compromising profit potential.