All posts by Julia Chapman

Field Exams during the pandemic

We are open for Business!
All of Our Services are Available and All of our Locations Are Open

It is our primary goal as a company to keep each of our Team Members, and all our Clients, safe and to carry on our business consistent with health and safety amid current and coming developments.

Many collateral exam service requests are time sensitive. Delay means opportunities are lost, line changes do not get processed, new business doesn’t happen, commerce is not supported.

We stand ready to creatively and effectively get our part done. By all means send us those collateral exam assignments!

We have a seasonal business pattern which peaks now through at least September: if we hold off now, the backlog will pile up later and impact our industry’s ability to get assignments timely completed during the busy time.

Traveling to business sites is a feature of our work. Offices, warehouses and plants are impacted (downsized, working from home, shut down). In some cases, we must curtail or eliminate the site visit.

For several years, we have been performing Remote Exams for Lenders who are open to them and direct us in this way of serving their Borrower. All are aware of pluses and minuses, but ‐ especially in the circumstances ‐ the benefits outweigh concerns. And, the downside can be mitigated (see example below).

Let’s carefully plan each case and move it ahead if possible. Look at each project with consideration for:

  •  Necessary travel and methods of getting there: it may well be that domestic air travel for a time is shut down, and at minimum it may be advisable to avoid air trips.
  •  Maintain early and direct communications with all involved parties.
  • Strongly consider whether the project can be done “remote” with all requested documents and test work sent to Share file. We need your approval for this.
  • Everyone needs to commit to communication and cooperation to complete the assignment on a timeline/with urgency similar to if the exam were conducted onsite.
  • In all cases, manage closely the time on site, finish the analysis in the office.

We appreciate your business and look forward to helping you during these trying times.
Rich Denman
Managing Director