Residential mortgage applications decreased by 7.1% from the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 12, 2018. The Market Composite Index, which measures mortgage loan application volume, decreased 7.1% on a seasonally adjusted basis from one week prior. On an unadjusted basis, the Index […]
Read More… from It’s a Great Time to Start Brokering Commercial Mortgages
As the air cools, the leaves change, and Halloween approaches, there’s plenty to be spooked by, but brokering small-balance commercial mortgages doesn’t need to be one of them. Working with borrowers who need alternative financing is a great opportunity for brokers to increase business, as well as their income. Whether you’re a residential broker or […]
Read More… from Don’t Be Afraid of Small-Balance Commercial Mortgages
As a commercial mortgage broker, you’ve got one goal: Close deals. In order to do that, you need to take the time to prepare each deal as well as you can before submitting it to a lender. Having the right information, the necessary documents and a thorough knowledge of your borrower’s commercial mortgage request will […]
One of the most common challenges every commercial broker faces is selling alternative, small-balance mortgages to non-bankable borrowers. If your clients went into the process expecting bank rates and terms, it becomes even more difficult. The best way to sell small-balance commercial mortgages is to explain from the beginning about the type of loan your borrower […]
Read More… from The Best Way to Sell Small-Balance Commercial Mortgages
For brokers, one of the most important factors to consider when choosing a commercial mortgage lender is their flexibility when it comes to getting deals done. And while small-balance commercial lenders are generally much more flexible than banks and other traditional lenders, many cannot provide borrowers with a particular type of financing solution – the […]
Read More… from Getting Your Commercial Borrower a Blanket Mortgage
For residential brokers looking to expand their business and increase their income, the small-balance commercial mortgage niche is a great place to start. If you work with the right lender, these deals are simple to close. However, before you get started, there are some key differences between residential and commercial mortgages of which you should […]
Read More… from The Key Difference between Residential and Commercial Mortgages
There are a number of factors that contribute to the success of a commercial mortgage broker, but earning the trust of borrowers and referral sources is one of the most important. People aren’t going to work with someone in whom they don’t have confidence, so it’s crucial to establish your skill and credibility early on. […]
Read More… from Establishing Credibility as a Commercial Mortgage Broker
There are plenty of things for brokers to consider when choosing commercial mortgage lenders to work with. What kind of rates do they offer? What are their terms like? Are there upfront fees? These are all important questions, but there’s another that you should also be asking lenders: Do you securitize and sell off your […]
Read More… from Commercial Portfolio Lenders Are a Great Choice for Brokers
Many small business owners have trouble obtaining financing for their commercial property through banks. This is why they come to you, a commercial mortgage broker. It’s your job to get to know your clients, understand their financial situations and needs and get them the mortgage they need to accomplish their goals. In many cases, this […]
Read More… from When is a Small-Balance Commercial Mortgage Right for Your Borrower?
Owning the property out of which their business operates is a dream for many small business owners. It makes their lives much simpler and allows for greater control of their finances and business. Whether your borrower is looking to purchase the space they rent, expand their current operations or own an investment property, as a […]
Read More… from Securing Your Borrower Mortgage for a Commercial Property Purchase