Your complete reference for new project onboarding, support & training, builder risk assessment, cost review, project risk assessment, service level agreements, and your dedicated CoFi team.
CoFi Blueprint gives construction lenders independent risk management at every stage of the loan — from evaluating the general contractor and the budget before closing, to verifying completed work and collecting lien waivers at every draw. Every service is delivered independently and reported directly to you.
Before You Close
Know Your Risks Upfront
Builder Risk Assessment
Independent evaluation of the general contractor's qualifications, financial standing, licensing, insurance, and background — so you know who is building before the first draw is processed.
Cost Review
An independent estimate confirms whether the project can be completed for the aggregate cost submitted — before the loan funds.
Project Risk Assessment
Contract, schedule, permits, appraisal, plans, and funds control reviewed for completeness and risk — so you can address issues before closing.
After You Close
Stay Protected Draw by Draw
Draw Inspection Reviews
Independent verification that work billed matches work completed at every draw, with a funding recommendation within 2 business days of a complete draw package.
Lien Waiver Tracking
Invoices, receipts, and conditional and unconditional lien waivers collected at every draw — building the documentation trail that reduces the risk of a perfected mechanic's lien against the property.
Throughout the Loan
A Team That's Always There
Onboarding & Project Setup
Draw parties, documentation requirements, and disbursement protocols confirmed before closing so every stakeholder is aligned from day one.
Pre & Post-Close Meetings
Dedicated onboarding and training for your team, borrower, and general contractor to ensure everyone understands draw requirements, timing, and their role in the process.
Dedicated CoFi Team
A Relationship Manager and servicing team available to support your loan officers, credit admins, and borrowers throughout the entire construction period.
Program Overview
What This Guide Covers
01
Onboarding New Draw Monitoring Project
Boarding form requirements, document submission, and the 5 BD SLA from complete package receipt
02
Underwriting Review Types
Builder Risk Assessment, Cost Review, and Project Risk Assessment — what each covers and when to order
03
Builder Risk Assessment
Entity standing, licensing, insurance, background screening, credit scoring, and required documents to collect from your builder
04
Cost Review
CoFi's independent estimate vs. the builder's budget — variance reporting, line item reasonableness, and contract alignment
05
Project Risk Assessment
Post-close documentation review — construction contract, schedule, permits, appraisal, and insurance risk points
06 – 08
Meetings, SLAs & Contacts
Pre & post-close meeting agendas, SLA commitments across all service types, and your dedicated CoFi team
3
Construction Draw Monitoring
New Projects — Draw inspection, documentation & lien risk management
CoFiBlueprint
Construction draw monitoring keeps lenders informed and protected throughout the build — verifying that work is complete before funds are disbursed, and that the documentation trail needed to defend against mechanic's liens is collected at every draw.
How it works: CoFi coordinates inspection reviews at each draw, collects required documentation from the builder and subcontractors, and confirms that disbursement conditions are met before funds are released. Findings are reported directly to you at each draw cycle.
Funding Recommendation SLA: 2 Business Days from complete draw package receipt
🔍
Draw Inspection Review
"Has the work been completed before we release funds?"
CoFi coordinates an on-site inspection at each draw to verify that work in place matches what is being billed. The inspection report is reviewed before a funding recommendation is issued — ensuring lenders never disburse ahead of completed work.
What you gain
Independent confirmation that work billed matches work completed
Percentage complete verified against schedule of values
Material stored on-site confirmed where applicable
Funding recommendation issued within 2 BD of complete package
📄
Draw Documentation & Lien Waiver Tracking
"Are we collecting the documentation that protects us at every draw?"
CoFi collects and reviews invoices, receipts, and conditional and unconditional lien waivers at each draw cycle — building the documentation trail that reduces the risk of a perfected mechanic's lien against the property and gives the lender a defensible disbursement record.
What you gain
Invoices and receipts collected and reviewed at each draw
Conditional & unconditional lien waivers tracked from all subcontractors
Reduced risk of a perfected mechanic's lien against the property
Defensible disbursement record maintained for the life of the loan
Why Construction Draw Monitoring Matters
Most construction loan losses don't happen at closing — they happen draw by draw. Monitoring keeps the lender informed and protected throughout the entire construction period.
Prevents Disbursement Ahead of Work
The core protection of draw monitoring
Why it matters: Every dollar disbursed before the corresponding work is complete is a dollar the lender cannot recover if the project fails. An independent inspection at each draw breaks the builder's self-reported progress out of the equation — the lender approves disbursements based on what CoFi confirms is actually in place, not what the builder claims.
Reduces Mechanic's Lien Risk
Lien waiver collection at every draw
Why it matters: A perfected mechanic's lien filed by an unpaid subcontractor or supplier can take priority over the lender's deed of trust — putting the lender's security position at risk. Collecting conditional lien waivers before each disbursement and unconditional lien waivers after payment creates the documentation record that proves funds reached the parties doing the work. Without this trail, lenders have limited ability to defend against lien claims.
1
Onboarding New Draw Monitoring Project
Project Boarding Form — 5 BD SLA
CoFiBlueprint
If you need any additional support or requests, please contact CoFi.
Onboarding SLA: 5 Business Days from complete submission
CoFi Blueprint conducts three independent reviews before approving a construction loan. Each targets a different layer of risk — giving lenders confidence that the right builder is executing a realistic project on a well-documented site.
Underwriting Review SLA: 5 Business Days once all required information is received
🏗️
Builder Risk Assessment
"Is this builder qualified and financially sound enough to deliver the project?"
An independent evaluation of the general contractor's qualifications, financial standing, and track record — giving lenders confidence that the builder has the capacity and integrity to complete the job before funds are committed.
What you gain
Verified license, entity standing, and active insurance
Business credit report, Credit Logic & D&B scoring
Revenue, sales trends & project type composition analysis
📊
Cost Review
"Can this project be completed for the budget submitted?"
CoFi prepares an independent cost estimate using quantity take-off and unit-cost analysis, then compares it against the builder's budget — delivering an objective assessment of whether the aggregate cost is supportable before the loan funds.
What you gain
Independent estimate benchmarked against the builder's budget
Schedule of values completeness & internal consistency review
Contract-to-plans alignment confirmed
Budget Supported or Budget Not Supported finding
📋
Project Risk Assessment
"Does this project's documentation reveal any risks we should know about?"
A comprehensive review of the project documentation package — confirming that all contractual, design, regulatory, and site information is complete, consistent, and in order so the loan can proceed without delays.
Funds control & construction monitoring arrangements verified
Risk flags identified before the first draw is processed
4
Builder Risk Assessment
Underwriting Review — Builder Risk Assessment
CoFiBlueprint
CoFi evaluates the builder's business entity, credit standing, licensing, insurance, and project history — providing lenders with an independent assessment of the builder's qualifications and financial credibility before funds are committed. This includes a review of business entity formation and standing, active licensing and insurance verification, a business credit report and scoring, criminal background and OFAC screening, and an analysis of revenue composition and sales trends. The result is a comprehensive, data-driven risk profile that gives your lending team confidence in the builder before a single draw is approved.
How it works: You collect the required documents from your builder and submit them to CoFi. We conduct the review independently and report our findings directly to you. CoFi does not contact the builder at any stage of the review process.
Step 1 — Documents to Collect from Your Builder
Gather the following from your builder and submit them to CoFi to initiate the review. CoFi will not reach out to the builder directly at any stage.
Document
Purpose
Builder Identity & Authorization
Signed Builder Authorization to Obtain Credit
Authorizes CoFi to pull a business credit report on the builder's company. This is not a personal credit inquiry and will have no impact on the personal credit of any individual. You can send this form directly to your builder via the Order Reviews portal — enter the builder's email address and CoFi will deliver the form with instructions.
Completed Builder Questionnaire
Provides business background, ownership structure, project history, licensing details, and lien history — the foundation of the evaluation. This form can also be sent to your builder via the Order Reviews portal alongside the Authorization.
Government-Issued Photo ID
Required from the majority shareholder or all equal partners to verify identity of the principals behind the entity.
Signed and Dated 2024 IRS W-9
Tax identification for the builder's business entity — used to confirm the legal name and EIN match across other submitted documents.
Licensing & Insurance
Valid Building License
Confirms the builder is legally authorized to perform construction in the project's state or jurisdiction.
General Liability Insurance
Evidence of active coverage appropriate for the project scope — protects the lender in the event of property damage or third-party claims during construction.
Workers' Compensation Insurance or Evidence of Exemption
Confirms active coverage for the builder's workforce, or a valid exemption — a key indicator of legal compliance and risk management.
Step 2 — What CoFi Evaluates
Once documents are received, CoFi conducts an independent review across six evaluation areas. Each is assessed separately — a weakness in any one area is flagged regardless of performance in others.
Business Entity
Company name, structure (LLC, Corp, Sole Prop), time in business, and standing — verified through state records and the Builder Questionnaire. Confirms the entity is legitimately formed and actively operating.
Business License
Validates that the builder holds a current, active license authorizing construction in the project's jurisdiction. An expired or missing license is an immediate disqualifier regardless of other factors.
Insurance Verification
Confirms active general liability and workers' compensation coverage (or a valid exemption). Gaps in coverage expose the lender to significant liability if an incident occurs during the draw period.
Criminal Background & OFAC
Screening of the builder and all principals for criminal history, prior charges, and OFAC watchlist matches. Any confirmed match requires immediate escalation — CoFi notifies the lender directly before any further activity proceeds.
Business Credit Report
Pulls the builder's business credit file — including payment history, credit utilization, public records (judgments, bankruptcies, liens), and trade line performance. Evaluated independently of the borrower's credit profile to ensure the builder's financial obligations don't create downstream project risk.
Sales Revenue & Trends
Reviews the builder's reported annual revenue across the past three years to confirm the business has the financial scale to take on and complete a project of this size. Year-over-year trends are analyzed to determine whether the business is growing, stable, or contracting — each carrying different risk implications for the lender.
Revenue Composition
Breaks down the builder's revenue by project type — residential, commercial, ground-up, renovation — to assess whether their track record aligns with the subject project. A builder whose revenue is primarily from small renovations being asked to deliver a ground-up multifamily project represents a different risk profile than their credit score alone would suggest.
Step 3 — What You Receive
CoFi delivers its findings directly to you as the lender. The outputs below are the primary signals that drive the risk assessment and inform our recommendation.
Scored Outputs
0–100
Credit Logic Score
Higher = lower repayment risk
Why it matters: Predicts the probability that the builder will meet their debt obligations on time. This is CoFi's primary underwriting signal on every submission — it is the single most reliable forward-looking indicator of whether this builder will create financial problems during the draw period.
0–100
D&B Score
Higher = lower risk
Why it matters: Dun & Bradstreet's independent commercial credit score provides a second, external data point on the builder's overall business credibility and financial health. When the D&B and Credit Logic scores diverge significantly, it often signals something worth investigating — such as a recent credit event or data reporting inconsistency.
0–9
Data Depth Score
Higher = more complete data
Why it matters: Measures the breadth and completeness of available financial history on the builder. A score of 0–3 indicates limited data, which reduces confidence in the scored outputs. It does not mean the builder is high risk — it means there is less information to evaluate. Treat a low Data Depth score as a signal to weigh the qualitative components of the review more heavily.
Revenue Analysis
Sales Revenue & Trends
3-year history
Why it matters: Revenue data answers a question credit scores cannot: does this builder have the financial capacity to take on and complete a project of this size? Year-over-year trends are equally important — a builder whose revenue is declining may indicate a shrinking workforce, lost relationships, or financial strain that hasn't yet surfaced in their credit profile.
Revenue Composition
By project type
Why it matters: A builder with strong credit but whose work history is concentrated in a different project type may pass a credit screen while still representing a meaningful delivery risk. A builder primarily experienced in small renovations being asked to deliver a ground-up multifamily project carries a different risk profile than their score alone would suggest.
Compliance & Insurance Checks
Insurance Verification
General liability & workers' comp
Why it matters: Uninsured builders expose the lender to significant liability during the draw period. A general liability lapse means property damage or third-party injury during construction could fall back on the borrower — and ultimately the lender. A workers' compensation lapse creates a direct legal and financial exposure if a worker is injured on-site. CoFi confirms coverage is active and adequate for the project scope, or flags the gap so you can address it before the first draw.
OFAC & Criminal Background
Immediate escalation if flagged
Why it matters: CoFi screens the builder and all principals against the OFAC watchlist and for financial criminal convictions. An OFAC match means the lender may be legally prohibited from transacting with this party under U.S. sanctions law — a finding that supersedes all other considerations. A financial criminal conviction — fraud, embezzlement, money laundering — raises direct questions about the builder's integrity and the safety of funds disbursed during construction. Any flag is escalated to you immediately. CoFi does not notify the builder. You determine next steps.
⚠ About Advisements: An advisement is an observation that does not affect CoFi's recommendation but that you as the lender should be aware of. Advisements appear in CoFi's report alongside the primary finding and are your responsibility to review and address with your borrower — they are informational only, not compliance flags.
Step 4 — Review Outcomes
CoFi issues one of three findings based on the totality of the evaluation. Outcomes are reported directly to the lender — not shared with the builder or borrower.
✓ Approved
The builder meets all minimum standards across entity standing, licensing, insurance, credit, and background screening. No material risk flags were identified.
✓ Approved with Advisements
The builder meets minimum standards, but one or more items were noted for your awareness. Advisements do not block approval — they are provided so the lender can make a fully informed decision.
✗ Declined
The builder does not meet CoFi's minimum standards in one or more evaluation areas. A decline finding is accompanied by the specific reason(s) so the lender can assess their options.
5
Cost Review
Underwriting Review — Cost Review
CoFiBlueprint
CoFi prepares an independent construction cost estimate using traditional quantity take-off and unit-cost analysis applied directly to the building plans and specifications. That estimate is then compared line by line against the builder's schedule of values — giving you an objective view of whether the budget is realistic, complete, and internally consistent.
How it works: You submit the builder's budget and project plans to CoFi. CoFi builds its own independent estimate from the plans, compares it against what the builder submitted, and reports the variance — in both dollar and percentage terms — directly to you.
Step 1 — Documents to Submit to CoFi
Gather the following from your builder and submit them to CoFi to initiate the review.
Document
Purpose
Budget & Contract
Lender-Approved Hard Cost Budget
The GC-provided budget in its final lender-approved form — must tie back to Sources & Uses. Financing costs, soft costs, and land are not evaluated and should not be included.
Builder's Schedule of Values
The line-item cost breakdown CoFi uses as the basis for its independent comparison. Must match the contract sum.
Executed or Draft Prime Construction Contract
Including all exhibits and addenda — reviewed for consistency with the schedule of values and plans.
All Executed or Pending Change Orders
Required to ensure CoFi's review reflects the current contract scope and cost at the time of submission.
Plans & Specifications
Architectural & Structural Building Plans
Stamped and dated — used by CoFi to perform its independent quantity take-off and cost estimate. The most accurate results require the most complete plans.
Project Specifications or Scope of Work Narrative
Provides material and method detail that informs CoFi's unit-cost analysis — particularly for finishes, MEP systems, and site work.
Site Plan
Indicating grading, utilities, and site improvements — required for a complete estimate of site-related costs.
Step 2 — What CoFi Evaluates
Once documents are received, CoFi performs a four-part independent analysis of the budget and supporting documentation. Each dimension is evaluated separately.
Independent Cost Estimate
CoFi builds its own estimate from the plans using quantity take-off and unit-cost analysis — the same methodology used by professional cost estimators. This is CoFi's foundation for all variance findings.
Builder's Schedule of Values
The builder's line-item cost breakdown is compared against CoFi's independent estimate. Variances are reported in dollar and percentage terms for every line item — not just the total.
General Conditions, O&P & Contingency
Each of these line items is reviewed individually for reasonableness against project type, size, and complexity — not rolled into the overall total. Outlier allocations are identified separately.
Contract-to-Plans Alignment
The contract sum is checked for consistency with the schedule of values and the plans. Gaps between contract scope and what the plans actually show are identified before they become draw disputes.
Step 3 — What You Receive
CoFi reports its findings directly to you. Each output addresses a specific dimension of budget risk that the builder's own numbers alone cannot reveal.
Budget Analysis
Budget Adequacy & Variance
Line-by-line dollar & % variance
Why it matters: A budget that looks adequate at the total level can still be insufficient to complete the project. CoFi's independent estimate provides an objective benchmark against the builder's aggregate cost — so you know before funding whether the budget is supportable.
Schedule of Values Completeness
Coverage across all cost categories
Why it matters: A schedule of values that is incomplete or internally inconsistent reduces confidence in the aggregate cost figure. CoFi evaluates whether the SOV reflects a complete and coherent scope of work as the basis for its overall budget assessment.
Reasonableness & Alignment
Line Item Reasonableness
G/C, O&P, contingency individually assessed
Why it matters: General conditions, overhead and profit, and contingency are inputs into CoFi's independent cost estimate and contribute to its overall assessment of whether the aggregate budget is supportable. CoFi evaluates each against project type and scope as part of building its independent estimate — not to identify which specific items are over or under budget.
Contract-to-Plans Alignment
Contract sum vs. SOV vs. plans
Why it matters: A contract that doesn't match the plans — in scope, in cost, or in finish level — creates ambiguity about what the builder is actually obligated to deliver. That ambiguity becomes a dispute every time a draw is submitted. CoFi identifies these gaps before they become problems, while there's still time to address them in the contract.
A Note on CSI Divisions
CoFi organizes all cost data using CSI Division categorization — a standardized construction cost framework. This is a presentation format, not an analytical conclusion. It ensures consistent, apples-to-apples comparison between CoFi's estimate and the builder's schedule of values across every submission.
Step 4 — Review Outcome
CoFi issues a single finding on whether the project can be completed for the aggregate cost submitted. This assessment is based on CoFi's independent estimate compared against the builder's budget as a whole — not on any individual line item in isolation.
✓ Budget Supported
CoFi's independent estimate supports the conclusion that the project can be completed for the submitted aggregate cost. Individual line item variances are reported for your awareness but do not affect this finding.
✗ Budget Not Supported
CoFi's independent estimate indicates the project cannot be completed for the submitted aggregate cost. The total variance between CoFi's estimate and the builder's budget is reported so you can address the gap with your borrower before funding.
6
Project Risk Assessment
Underwriting Review — Project Risk Assessment
CoFiBlueprint
CoFi reviews the full project documentation package after closing to identify risk points across the construction contract, schedule, permits, appraisal, and insurance. Each component is evaluated independently — a deficiency in any one area is flagged regardless of the strength of the others.
How it works: You collect and submit the project documentation listed below. CoFi reviews each component independently and reports its findings — including any advisements, conditions, or risk flags — directly to you. This review does not involve contact with the builder or borrower.
Step 1 — Documents to Submit to CoFi
Gather the following from your borrower and builder and submit them to CoFi. Required items must be present before the review can be completed. Best Practice items are strongly recommended — their absence will be noted as an advisement in CoFi's report.
Document
Purpose
Requirement
Contract & Budget
Executed or Draft Prime Construction Contract
Including all exhibits and addenda — reviewed for scope, sum, retention, change order provisions, and loan compatibility
Required
Builder-Approved Hard Cost Budget
GC-provided; must align with the lender-approved budget and tie back to Sources & Uses
Required
All Executed or Pending Change Orders
Ensures CoFi's review reflects the current contract scope and cost
Required
Plans & Schedule
Architectural & Structural Plans
Stamped and dated — used to verify scope consistency with the contract and permits
Required
Project Specifications or Scope of Work Narrative
Materials and methods detail used across the cost and documentation reviews
Required
Construction Schedule or Project Timeline
Evaluated for duration reasonableness, logical sequencing, and alignment with the loan term
Best Practice
Permits & Entitlements
Building Permit or Active Permit Application
Evidence of issued permit or active review by the relevant jurisdiction — absence is flagged as a risk
Best Practice
Specialty Permits
Grading, encroachment, environmental, and utility service approvals where applicable
Best Practice
Appraisal & Insurance
Appraisal or As-Complete Valuation
Reviewed for scope consistency with the plans and relationship to total development cost
Best Practice
Builders Risk Insurance
Must name the lender as loss payee — coverage amount, expiration, and named insured are noted
Best Practice
Geotechnical or Soils Report
Required where applicable to project type or site conditions — informs foundation and site risk
Best Practice
Funds Control Agreement
If required by the lender — CoFi confirms the arrangement is in place and not in conflict with the contract
Best Practice
Step 2 — What CoFi Evaluates
Once documents are received, CoFi evaluates six documentation components independently. A deficiency in any one area is flagged regardless of the strength of the others.
Construction Contract
Reviewed for completeness and internal consistency — not as a legal review. CoFi evaluates contract sum alignment, scope consistency with plans, retention structure, change order provisions, liquidated damages, substantial completion definition, and funds control compatibility.
Construction Schedule
Evaluated for reasonableness relative to project type, size, and complexity. CoFi flags schedules that are materially aggressive, reflect illogical sequencing, or cannot be completed within the loan term.
Permits & Entitlements
CoFi reviews the status of building and specialty permits. Projects without an active permit or pending application are flagged as a risk. CoFi also checks for permit-plan consistency and approaching expiration dates.
Appraisal
CoFi confirms the appraised value is based on the completed project as described in the submitted plans. Projects where total development cost materially exceeds the as-complete value are identified as a potential negative equity risk.
Funds Control & Construction Monitoring
CoFi reviews any required funds control arrangements for compatibility with the construction contract and confirms whether construction monitoring services — including inspection reviews and documentation collection — are in place for the project.
Plans & Specifications
Architectural and structural drawings reviewed for completeness and consistency with the contract scope and permitted plans. Used across the cost review and documentation review components.
Step 3 — What You Receive
CoFi reports findings across each documentation component directly to you. Risk points are identified with specific flags — not bundled into a single pass/fail score.
Contract & Schedule
Construction Contract Review
Completeness & lender compatibility
Why it matters: A contract missing a definition of substantial completion, a change order provision, or retention terms isn't just incomplete — it leaves the lender without enforceable mechanisms when disputes arise during construction. CoFi identifies every material deficiency so conditions can be placed and addressed before the loan closes or before the first draw is processed.
Construction Schedule Review
Duration reasonableness & loan term alignment
Why it matters: A schedule that cannot be completed within the loan term creates a maturity default risk before the project is finished. Schedules that are materially aggressive for the project type — or that show all trades working simultaneously — signal either planning deficiencies or an intent to compress the timeline that the field conditions won't support. A missing schedule is noted as an advisement and will not result in a declination on its own.
Permits & Appraisal
Permits & Entitlements Review
Active status & plan consistency
Why it matters: A project that starts construction without an active permit — or with a permit that doesn't match the plans being built to — can be ordered to stop mid-construction. That stop-work order becomes the lender's problem the moment the loan has funded. CoFi flags missing permits, expiring permits, and permit-to-plan inconsistencies so the lender can address them as pre-closing conditions. CoFi relies on documentation provided — the lender retains responsibility for independently confirming permit status prior to first disbursement.
Appraisal Review
Scope consistency & equity risk
Why it matters: An appraisal that references a different scope or finish level than what's in the plans inflates the as-complete value — and with it, the lender's apparent loan-to-value. If total development cost materially exceeds the as-complete value, the lender is in a negative equity position from the moment the loan funds. CoFi confirms scope consistency and flags the cost-to-value relationship. CoFi does not evaluate the appraiser's methodology or comparable selection — those remain the lender's responsibility.
Plans, Budget & Site Conditions
Plans & Specifications Review
Completeness & cross-document consistency
Why it matters: Plans and specifications are the single source of truth for what the builder is obligated to deliver. CoFi confirms the plans are complete and consistent with the contract scope, the permitted drawings, and the budget. Plans that are incomplete, unsigned, or inconsistent with what was permitted create scope ambiguity that directly affects the lender's ability to enforce the contract during construction.
Budget & Change Order Review
Current contract cost & SOV alignment
Why it matters: A budget that doesn't reflect executed change orders is not the current contract cost — and a lender relying on a stale budget may be funding against a scope that no longer exists. CoFi confirms the hard cost budget ties to the contract sum and that all known change orders are reflected, so the cost basis for the review is current and accurate.
Geotechnical & Soils Report Review
Foundation & site risk where applicable
Why it matters: When provided, a geotechnical report gives CoFi visibility into foundation and site conditions that cannot be identified from the plans alone. Poor soil bearing capacity, expansive soils, high water tables, or slope instability all carry direct cost and schedule risk. Where a geotech report is not provided for a project type that typically warrants one, CoFi notes the absence as an advisement for the lender's awareness.
Funds Control & Construction Monitoring
Funds Control & Construction Monitoring
Disbursement controls & draw documentation
Why it matters: Funds control and construction monitoring are two of the most effective tools a lender has for managing risk after the loan closes. Funds control ensures disbursements are made only for work that has been completed and verified — reducing the risk that loan proceeds are released ahead of the work they are meant to fund. Construction monitoring — including site inspection reviews and the collection of invoices, receipts, and lien waivers at each draw — provides the documentation trail that confirms the project is progressing as planned and that the risk of a perfected mechanic's lien against the property is being actively managed. CoFi reviews whether a funds control arrangement is in place, confirms it is compatible with the construction contract, and notes any gaps in the draw documentation requirements that could leave the lender exposed.
⚠ About Advisements: An advisement is an observation that does not affect CoFi's recommendation but that you as the lender should be aware of. Common advisements include a missing construction schedule, an absent appraisal, or permits not yet received. Advisements appear in CoFi's report and are your responsibility to address with your borrower — they are informational only, not compliance flags.
Step 4 — Review Outcomes
CoFi issues one of three findings. Outcomes are reported directly to the lender — not shared with the builder or borrower.
✓ Approved
All required documentation was present and complete. No material deficiencies were identified across the contract, schedule, permits, appraisal, or insurance components.
✓ Approved with Advisements
Documentation meets minimum standards, but one or more items were noted for your awareness — such as a missing schedule or an appraisal that wasn't provided. Advisements do not block approval.
✗ Declined
A material deficiency was identified in one or more required documentation components — such as a contract missing critical provisions, a project without an active permit, or a negative equity position. The specific reason(s) are provided.
2
Support & Training
Pre & Post-Close Meetings — Agendas, timing & attendees
CoFiBlueprint
Two key meetings — a Pre-Close review ~3–4 weeks before closing, and a Post-Close onboarding & training within 1 week after closing. Relationship Manager & Loan Officer required for both.
Pre-Close Meeting
Initial Onboarding & Review
Timing
~3–4 weeks prior to closing
Format
Video Call
Duration
15–30 minutes
CoFi
Relationship Manager
Lending Partner
LO + LOA + Credit Admin
Agenda
1
Confirm closing date
2
Identify any exceptions or waivers
3
Decide if any underwriting reviews need to be ordered
Post-Close Meeting
Final Prep & Training
Timing
Within 1 week after closing
Format
Video Call
Duration
15–30 minutes
CoFi
Relationship Manager
Lending Partner
LO + LOA + Credit Admin + Borrower + Builder
Agenda
1
Confirm closing date
2
Confirm draw processing requirements
3
Set up training for borrower and builder
4
Verify parties that will submit and approve draws
5
Review draw processing SLAs
7
Service Level Agreement
Turnaround commitments across all service types
CoFiBlueprint
7
Service Level Agreement and Timelines
CoFi Blueprint is committed to clear, predictable turnaround standards across all service touchpoints.
5
Business Days
Onboarding New Draw Monitoring Project
From receipt of complete loan package → project boarding confirmation
Loan is onboarded
Borrower and Builder invitations sent
Ready for draw submission
5
Business Days
Underwriting Reviews
From receipt of complete package → review confirmation
Report delivered to ordering party
2
Business Days
Funding Recommendations
From receipt of complete package → review confirmation
Review completed by CoFi Servicing
Approvals in software
Funding Recommendation sent to lender
Ready for funding
8
Contacts & Resources
Your dedicated CoFi Blueprint team
CoFiBlueprint
8
Contacts & Resources
Your dedicated CoFi Blueprint team supports every stage of the process — from onboarding through post-close.
