Small-balance commercial mortgages are a great opportunity for brokers to close more loans and earn additional income. However, if you’re unsure of how to go about it, closing these loans can seem like a challenge. Once you know how to proceed, though, getting these deals done is very simple. Here’s what you need to do […]
Read More… from 4 Steps to a Successful Commercial Mortgage Closing
Once you’ve decided that you want to become a commercial mortgage broker and start closing loans within this niche, it’s important to start developing a robust referral network and securing leads. The first step in this process is to determine who you need to connect with to build up your pipeline and keep the commercial […]
Read More… from Strong Commercial Mortgage Referral Sources Build Strong Pipelines
If you’re interested in expanding your business to include brokering small-balance commercial mortgages, it’s important to know what you and your borrower can expect from lenders. Without this knowledge, you won’t be able to find non-conforming mortgages that fit the needs of your clients. Here are some questions that you should ask a non-conforming commercial […]
Read More… from Four Questions to Ask Non-Conforming Small-Balance Commercial Mortgage Lenders
When a mortgage broker begins working with a small-balance commercial lender, an account executive will likely be the first person with whom they speak. Your account executive’s job is to build relationships with brokers and to evaluate the deals they submit before passing them on to their underwriting department. Here’s what every broker should know […]
Read More… from What Commercial Mortgage Account Executives Want Brokers to Do
In order to properly present a small-balance commercial deal to a lender, brokers need to get to know their borrowers. Taking the time to learn about your borrower and their business will make it easier to place the deal with the right lender and to close the deal quickly and without issue. The more you […]
Read More… from The Benefits of Knowing Your Commercial Mortgage Borrowers
One of the best ways to expand your business as a mortgage broker is to begin working with borrowers with commercial real estate collateral who need to secure financing for their small business. These borrowers often have trouble obtaining a bank loan for a number of reasons, such as less-than-stellar credit, loan size and inability to […]
Successful brokers are those who understand the commercial mortgage lending process and know how to manage it wisely. To close small-balance commercial mortgages, it’s important for brokers to work closely with their lenders and borrowers in order to close each loan as quickly and smoothly as possible. At the end of the day, it comes […]
Read More… from Managing a Small-Balance Commercial Mortgage Scenario
Nonconforming commercial mortgage lenders have the ability to close loans for their brokers in a timely manner, but the speed of the underwriting process depends largely on brokers. In order for your transactions to close quickly and smoothly, you need to understand what your lender needs in order to fully underwrite a deal. Here’s what […]
Read More… from Understanding Commercial Mortgage Underwriting
The more commercial mortgage deals you have in your pipeline, the more successful your brokering business will be. It’s a simple rule to live by, but it’s important to make sure that the deals in your pipeline are strong loan scenarios so that you don’t waste time on non-conforming mortgages that aren’t likely to close. […]
Read More… from When Should I Turn Down a Commercial Mortgage Borrower?
For brokers looking to close small-balance commercial mortgages, time is money. So, it’s crucial that brokers don’t waste their time or their borrowers’ time on deals they won’t be able to place with a non-conforming commercial lender. Commercial mortgage brokers need to learn what makes a deal fundable and when to turn down certain deals. […]
Read More… from How Brokers Can Spot Great Commercial Mortgage Scenarios