There’s no reason for brokers to be afraid of small-balance commercial mortgages. This niche presents a great opportunity for you to work in an under served segment of the industry and earn additional income. While it might seem challenging at first, working with a dependable lender like APEX Mortgage Corp. makes closing these loans simple.
Here’s how we can help you earn more commissions:
Easy submission process:
For an initial review of a scenario, all a broker needs to submit is a completed 1003 or application, a credit report with scores and trade lines, a summary of the deal and some photos of the property. With our common-sense approach to underwriting, APEX can evaluate the scenario quickly so that you and your client aren’t left hanging without an answer.
Handles all the processing:
Once your borrower’s request has been approved and fully underwritten, APEX will take care of processing the deal. We’ll order the appraisal, handle title work and schedule the closing, leaving you with plenty of time to focus on generating new leads.
While it generally takes a bank or SBA loan months to close because of strict regulations, a non-conforming lender like APEX can close a deal in as little as 2-3 weeks from commitment. Your borrower will get the money they need in the timeframe required, and you’ll get your commission check that much faster.
Higher commission fees:
At APEX, we understand the value that our brokers provide, and we know that borrowers who don’t qualify for bank financing can be a challenge. That’s why we allow our brokers to charge up to 5 points, plus 2 YSP.
Small-balance mortgages don’t need to be scary. While they might seem challenging at first, these deals are a simple way to expand your business and increase your income. All you need is an experienced lender who understands non-bankable borrowers and is committed to helping brokers succeed.