Natalie Dumont

Boston, MA

United States

Profile Information:

Company name and description: Bofi Federal Bank is a portfolio, non-prime lender. We mostly work with brokers and pay our brokers UNDISCLOSED REBATES up to 2pts. Brokers can offer either PAR pricing to their clients or charge extra points upfront in addition to YSP paid by us.
We do NOT offer hard money programs, but our typical borrower is someone with a scratched profile (A-C type). Our current rates start at 4.5% and depend on the property tier and borrower profile. We offer VERY common sense UW.
Examples of "slightly scratched" transactions we closed in the past include:
-Low FICO
-Unemployed borrower
-Illegal units in the building
-Foreign Nationals requiring non-recourse (up to 65LTV)
-Break-even DSCR
-Foreclosures, Bankruptcies, Judgments
-Title violations
-Recent mortgage lates
-Low and negative global cash flow
-Very low borrower's liquidity and/or net-worth
-No rental or management experience
-IRS tax liens
-Properties in high crime area
-Sponsors with open law suits
-Poor historical operating statements