Granite Risk Management Launches Remote Service to Provide Photo Documentation of Construction Projects During Pandemic

LUXEMBOURG, May 14, 2020 (GLOBE NEWSWIRE) -- Granite Risk Management (“Granite”), a construction risk mitigation provider, announced the launch of GranitePix, a new solution to help the construction lending industry provide photo documentation for inspections of residential and commercial construction projects during the COVID-19 outbreak.

With the onset of COVID-19, health concerns, travel restrictions and shelter-at-home mandates have severely limited the ability of companies to provide services. The construction industry has been hit especially hard since it requires professionals to work together on-site, including inspectors who document the progression of construction projects.

As part of Granite’s suite of risk management services, the company’s expert inspectors have typically provided site photos to record the progress of construction projects. To address access limitations, Granite has developed an easy-to-use method called GranitePix that enables builders to submit photographs themselves. They simply take photos of construction projects via smartphone, tablet or PC and upload them directly to Granite’s website.

Granite then reviews the photos and provides timely status updates to their clients. This helps Granite and its lending partners to continue providing funding to builders, their suppliers and construction workers across the country so they can help keep their projects — and the U.S. economy — moving forward despite COVID-19 challenges.

“Our GranitePix solution helps solve a critical issue that COVID-19 has created in the construction lending industry,” said Ben Hall, Vice President, Product at Altisource. “Using our existing technology infrastructure and outreach to our clients’ builders, we have implemented an alternative process to provide clients with photo documentation and risk management oversight similar to what our usual inspection and fund control process would provide.”

For more information on GranitePix, contact Doug Stuart at 770-612-7208.

About Granite Risk Management^™

Granite Risk Management provides a full suite of construction risk mitigation services to help reduce risk without compromising profit potential. Our system of checks and balances combines in-depth review of state-by-state mechanic’s lien laws, best practices and customer service excellence to help deliver projects on time, within budget and free of liens.

About Altisource^®

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve. Additional information is available at altisource.com.

Source: Altisource Portfolio Solutions S.A.