Construction lending is big business in the US, and access to construction loans for commercial real estate has become more competitive in recent years. There is often significant time pressure to close a loan and move a project along, in order to take advantage of a market opportunity or hit the construction season. Construction lenders may skimp on due diligence review of project design and construction contracts under these pressures, assuming that they are standardized contracts or that loan documents or consents to assignment cover all the bases.
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