IVI Assessment Services, a CBRE company and integrated Construction Risk Management (CRM) and due diligence firm, announced the completion of numerous reports over the last several months in support of the new Freddie Mac Small Balance Loan program.
IVI also noted that as part of the new Freddie program, it has launched the first of its kind national combined services offering that includes both property appraisal together with environmental and physical due diligence.
The reports completed by IVI were carried out for multiple clients in regions across the United States. Properties assessed were typically 60 units or less in size and in many cases are comprised of older building stock.
The IVI Freddie Mac SBL report is an abbreviated due diligence report that incorporates aspects of physical due diligence and environmental due diligence and combines them into one streamlined product.
IVI has incorporated the Freddie Form 1104 together with other Freddie required documents into a Small Balance Loan Property Condition Report that meets the requirements of the Freddie SBL abbreviated third-party report criteria for the SBL Program.
“The completion of these reports, most of which were turned around in as few as 10 days, demonstrates IVI’s ability to provide in depth analysis of aging or problematic building components in conjunction with very tight timeframes,” said Randall Ward, vice president of National Agency Accounts at IVI Assessment Services.
“We’ve done this while minimizing the impact to both tenants and borrowers through the careful coordination of site visits with appraisers.”