Field Examination

Field Examination

Durkin Group performs all field examination services in accordance with agreed-upon procedures as requested by a lender. A field examination includes inspection of a client’s books and records and asset value testing focusing on any assets pledged as collateral support for a lending facility.

The types of field exams offered by Durkin Group include:

  • New Business Field Examination or Survey Examination
  • Takedown Field Examination or Pre-Funding Examination
  • Recurring Examinations
  • Physical Inventory Test Counts

RECENT ENGAGEMENTS

  • Field Examination of a Payday Lender

    Durkin Group was engaged by a Senior Lender to perform a recurring field examination on a finance company that provides payday loans.  The field examiners reviewed the credit policies and procedures of the finance company and noted that there was an internal policy against loan flipping.  It was also not permitted in the Senior Lender’s […]

  • Field Examination of a Factoring Company

    Durkin Group was engaged by a Bank to perform a recurring field examination of a finance company that factors attorney’ legal fees that have become due and payable through pre-litigation settlements. These settlements are usually for personal injury, workers compensation, and class action litigation cases and are typically due from insurance companies and state insurance […]

  • Businessman’s Review

    The Loan Workout Group of a large commercial bank had a problem loan transferred in from the Corporate Lending Department.  To determine the bank’s position and provide current information for decision making, the bank required an immediate assessment of the company’s liquidity position as well as the collateral performance.  In conjunction with the field exam, […]

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