REAL ESTATE BANKING SERVICES
REAL ESTATE BANKING SERVICES
Escrow Funds Management
Fiduciary Disbursements – Agency Programs
Consent Orders & Neutral 3rd Party
Site Inspections and Draw Process Administration
Fiscal Controls and Reporting
Our fiduciary escrow services greatly benefit public and private sector clients who are concerned about maintaining control over critical real property construction disbursements. We work directly with all parties throughout the funding and construction process to ensure the appropriate funding occurs for the end-results and accountability our clients expect.
Signet works directly with clients nationwide to assure all terms and conditions of funding and construction agreements are met before escrowed funds are dispersed. We perform physical inspections with in-house staff, as well as directing and managing inspections provided by others, and confirm completed work has been done in strict compliance with all contractual requirements. We maintain tight internal quality assurance practices, records management, client reporting and internal controls that conform to the highest audit standards.
U.S. Department of Justice, Civil Rights Division (DOJ) - June 2013 to Present
Signet was selected by DOJ to serve as the "Administrator" of a $10.25 million fund, the largest disability-based housing discrimination settlement established to date. The settlement named 32 large, multifamily apartment complexes located in 15 states, for the purpose of providing accessibility retrofits to bring the properties into greater compliance with requirements of the Fair Housing Act and the Americans with Disabilities Act and to increase the stock of accessible housing in the affected communities. Noteworthy services include:
Fiduciary interface between Settlement Agreement parties.
Accessibility Survey utilization to prioritize improvements and develop a retrofit scope of work for each property.
Vetting general contractors and bid specifications and procurement oversight.
Funds management and allocation among candidate properties to result in the achievement of Fund goals.
Construction inspections and disbursements in conformance with contract terms and accessibility standards.
U.S. Department of Housing and Urban Development, Office of Recapitalization - 2003 to Present
In connection with the financial restructure and renovation of HUD-subsidized multifamily properties, Signet's Construction Management staff conducts on-site inspections and has administered disbursements for nearly 900 properties nationwide. As of September 2014, Signet has processed more than 3,500 draw requests and disbursed in excess of $250 million for properties located in 32 states. Noteworthy services include:
As HUD's fiduciary, negotiation of rehabilitation escrow agreements with individual property owners.
Funds management through specialized bank accounts, maintaining fiscal controls for funds protection.
Owner and tenant presentations, training and interaction.
Turnkey administration of construction draw process including disbursement, documentation, lien protection, account reconciliation, client reporting and audit support.