Granite Companies was formed in 1994. The primary focus was to assist lenders with damaged collateral caused by 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 identified a specialty niche which resulted in a new operational direction in delivering construction risk management services.

Granite’s 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 – Risk Mitigation System – for contractor acceptance, project underwriting, development of a national inspector network, portfolio tracking, and nationwide funds administration services. Additionally, Granite Risk Management 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. Since the addition, our experience includes managing small SBA projects ranging in size from $200K to $5 million and commercial projects ranging in size from $5 million to more than $200 million.

In 2008, with the economic downturn, default management became the new focus. For the next several years, Granite Risk Management 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 Risk Management continues to expand our partnerships with lenders in the residential and commercial construction markets through our risk management services. Our customer centric approach powered by technology helps boost builder and correspondent satisfaction with effective risk management procedures.