Timeline:

The entire draw request is completed in approximately 5 business days.

• Initial draw processing is completed within 48 hours.
• Documents are sent for Lender approval with 24 hours of the title update.
• The Lender wires the approved proceeds to Land Title for funding (based on Lender’s time-frame).
• Funds are then disbursed the same day the Lender advances funds to Land Title.

Documents Required to Issue Mechanic’s Lien Endorsement*

Residential Property

• Loan application or financial statements for the borrow and each guarantor of the loan
• Cost breakdown
• “As proposed” appraisal
• Execution of company’s indemnity agreement by the lender, borrower(s), and guarantor(s) if applicable

Commercial Property

• Loan applications or financial statements for the borrower and each guarantor of the loan
• Construction contract
• Construction loan agreement from the lender
• Cost breakdown
• “As proposed” appraisal
• Copy of the bond, if project will bonded
• Execution of the company’s indemnity agreement by the lender, borrower(s), and guarantor(s) if applicable

* See Endorsement 101
**Additional requirements may be added after review of the documents listed

Mechanic’s Lien Endorsement including Construction Loan Disbursement Fees

For Residential and Commercial Construction

• $1150 all-inclusive flat fee***

***The mechanic’s lien protection isn’t provided with Endorsement 122

Documents Executed at Closing

• Construction Disbursing Agreement. The lender draws a contract with Land Title to act as the disbursing agent, and the borrower(s) and lender agree to resolve any mechanic’s lien recorded during construction.
• Disburser’s Notice. Land Title records and executes this document after the Deed of Trust.
• Contractor’s Indemnity Agreement. If applicable, this will secure the contractor’s pledge to resolve any mechanic’s liens recorded during construction.

Please send draw requests to draws@ltgc.com
For further information, contact the Construction Loan Disbursements Department:
Gary Cellar – Manager
Direct: 303-850-4137
Email: gcellar@ltgc.com