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
For brokers looking to close small-balance commercial mortgages, borrowers looking to finance investment properties are a solid segment of the market. Whether your borrower is looking to finance something as simple as a multifamily property or something a little more complex, like a shopping center, brokers need to know how to present these requests to […]
Read More… from Getting Your Commercial Borrower a Mortgage for an Investment Property
For many small business owners, it’s a real problem when their local bank decides not to renew their commercial mortgage and calls the note due. These borrowers have a limited time frame in which to find financing in order to pay off the note, and they usually require the assistance of a broker. Here’s what […]
Read More… from What to Do When the Bank Won’t Renew Your Borrower’s Commercial Mortgage Loan
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?
There are a number of factors that a small-balance commercial mortgage lender takes into consideration when determining the loan-to-value (LTV) percentage that they’re willing to offer a borrower. The LTV is the ratio of the loan amount to the value of the property, and is calculated using information about the borrower and the property. Here’s […]
Read More… from How a Commercial Mortgage Lender Calculates Loan-to-Value
When you’re working with a non-bankable borrower seeking financing for their commercial property, it’s important to understand and be able to account for any obstacles they’ve faced in the past. As the commercial mortgage broker, you’ll be sending your lender various pieces of information, such as a credit report or bank statements, that might not […]
Read More… from Helping Your Commercial Borrower Craft a Letter of Explanation
A borrower’s credit is one of the most important metrics a commercial mortgage lender uses to determine their financial strength, as well as the terms of the mortgage. Because of this, it’s crucial for brokers to understand the significance of credit reports and the differences that may appear between the free credit sites, as well […]
Read More… from The Importance of Credit Reports in Commercial Mortgage Lending
In the small-balance commercial mortgage industry, it’s not uncommon for brokers to be contacted by investment property owners looking to secure financing for their buildings. Whether their collateral is a traditional investment property like a multifamily or apartment building or a more commercial building such as a small shopping center, it’s important for brokers to […]
Read More… from Obtaining a Commercial Mortgage for Your Borrower’s Investment Property
Commercial mortgage brokers can face a number of objections from non-bankable borrowers throughout the lending process. However, many of these issues will cease to exist – or at least be easier to manage – if you simply prepare your borrower for the type of loan they can expect to qualify for. Here’s how to get […]
Read More… from Preparing Your Non-Bankable Commercial Mortgage Borrowers