"Hi Darryl, this is true about lenders mostly marketing to brokers. And I am not an exception. :) I represent a Federal Bank. We are a non-prime bank, we work with conventional turn-downs. We pay our brokers undisclosed rebates, while not…"
"Hi Norman, thanks for your interest.
We fund income properties - multi-families (2-200 units), apt buildings, offices, retail, student housing, light industrial, foreign nationals. Loan amounts up to $20M with most competitive pricing for loans of…"
"Hi Mike, are you sure you need a hard money lender for your Client? My bank is NOT a hard money lender, but we work with "scratched" borrowers. We offer par pricing and also pay undisclosed YSP to brokers up to 2 points, which helps if you…"
"Hi Daivd, I represent a federal bank. We are a commercial portfolio lender. Not only do we not charge origination points, we offer PAR pricing to direct clients, and pay undisclosed rebates to brokers, if a broker is involved in the transaction.…"
"We are a Federal Bank offering portfolio products nationwide. Up to 75 LTV, VERY common sense underwriting. We pay our brokers UNDISCLOSED REBATES up to 2pts! No need to charge your client origination points, if you don't want to.
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 up to 3pts 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 (B-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:
-Illegal units in the building
-Foreign Nationals requiring non-recourse (up to 65LTV)
-Foreclosures, Bankruptcies, Judgments
-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
Comment Wall (1 comment)
You need to be a member of Real Estate Finance to add comments!