Many questions occur from borrowers concerning COCAMAR and our function. As explained in the History section, COCAMAR serves as an independent third party reporting to the bank on its collateral position.
In any project financed by a lender on the borrower's behalf, builders normally receive a number of construction draws. For the bank to protect its collateral position, COCAMAR's services are utilized. Your bank hires COCAMAR, Inc. to go to your project and report on the status of this project. Inspectors provide raw data for final assessment documentation and subsequent reporting to the bank by COCAMAR administrators. The bank can then disburse the funds as appropriate.
COCAMAR serves as the eyes of the bank and helps your lending institution to control the project, while protecting your investment as well.
For any additional information or questions about this process, please call us, toll free at (888)993-2110 or feel free to e-mail us at info@cocamar.com.
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