When it comes to underwriting and funding loans sourced from brokers or other mortgage loan originators throughout our state, nobody does it better than we do. That’s right, nobody! It’s a core competency…it’s in our DNA. After all, we’ve been doing this since 1978. We’ve got the experience, funding capability and the diversity of program options to satisfy pretty much any request that meets our guidelines. We love brokered loans!
So, what about Owner Occupied/Consumer Purpose/Dodd-Frank Covered Loans? It seems like that’s one of the first questions we’re asked these days. And the answer is yes, we do them! In fact, we’ve funded hundreds of these loans since the inception of Dodd Frank. That includes many HPML’s and dozens of HCM’s. With an obvious eye to strict compliance, we can help you and your clients navigate the choppy waters of disclosure, counseling, etc., etc., and we’ll consider both first and second trust deed requests, so be sure and ask us for deal-specific pricing and details.
One of the beauties of hard money or equity lending lies in its flexibility. There’s nothing “cookie cutter” or routine about what we do. Every request is unique, and there are very few hard and fast rules. Therefore, we invite and encourage you to run all reasonable requests and scenarios by us for consideration. But, here’s a brief list of “do’s and don’ts” that might assist you:
- Owner and Non-Owner Occupied, SFR’s, PUD’s, Condo’s and Townhomes.
- Consumer Purpose Owner & Non-Owner Require ATR (full doc) & Dodd Frank Compliance
- Business Purpose Owner & Non-Owner — Stated Income/Stated Asset No Problem (Interest Only terms available). Ask about HELOC options!
- First and Second Trust Deeds — California Only
- Multi-Family, No problem.
- Foreclosure, Bankruptcy, Poor Credit, Liens/Judgments/Collections/Charge Offs — OK.
- Commercial/Office (case by case) — no single purpose, gas stations, restaurants, land or mobile homes.
- Bridge Loans.
- Loans to Trusts, Corporations, LLC’S
- Very competitive rates and terms.
- $30,000 to $2,500,000
- Maximum LTV/CLTV 60% (65% considered on case-by-case basis)
- In-house escrow
- QUICK RESPONSE