VA Affirmative Mechanic's Lien Coverage Request for Approval (Construction Loan)

REQUEST FOR APPROVAL

(CONSTRUCTION LOAN)

Date:_____________  Agent:__________________________________ Fax No. ________________

Legal:____________________________________________________________________________

Lender: ______________________________________Loan Amount: ________________________

Borrower: ________________________________________________________________________

Guarantors:   ______________________________________________________________________

General Contractor: ________________________________________________________________

WILL SITE BE MLA POSTED?           ______________

If So, You Need Only Submit the Lender's Loan Commitment with This Request.

(NOTE:  Commercial property is not subject to MLA posting.)

IF THE SITE IS NOT MLA POSTED YOU MUST SUBMIT THE FOLLOWING

TO STGC PRIOR TO CLOSING:

1.      Financials for borrower (loan application is acceptable)/guarantors/general contractor, unless known to you and known to be stable.

2.      Loan commitment/agreement

3.      Title search or title commitment, including judgment/lien search on general contractor and borrower

FOR A NON-POSTED SITE, YOU MUST OBTAIN AND RETAIN IN YOUR

FILE THE FOLLOWING:

1.      List of subcontractors/suppliers with phone numbers.

2.      Lien waivers at each draw from subs and suppliers.