What Lenders Don’t Want You To Know: How To Keep From Being Surreptitiously Ripped Off By Unscrupulous Mortgage Professionals

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If you seek information that will help save you money on a mortgage transaction, you’ve found it! Kevin Melody spells out trade secrets of the mortgage industry from an insider’s perspective, with frank honesty and in plain English. He shows how most borrowers shop for mortgages like they shop for cars: they find the product they want, at a price they believe is fair, then they strike a deal. Unfortunately, unlike a car purchase, a mortgage transaction will not … More >>

What Lenders Don’t Want You To Know: How To Keep From Being Surreptitiously Ripped Off By Unscrupulous Mortgage Professionals

Largest mortgage lenders.: An article from: Arkansas Business

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This digital document is an article from Arkansas Business, published by Journal Publishing, Inc. on January 18, 2010. The length of the article is 1316 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.

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Title: Largest mortgage lenders.(BANKING)(Statistical table)<... More >>

Largest mortgage lenders.: An article from: Arkansas Business

Home mortgage lenders: greater San Fernando Valley-based, ranked by dollar amount of mortgage lending in 2003.: An article from: San Fernando Valley Business Journal

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This digital document is an article from San Fernando Valley Business Journal, published by CBJ, L.P. on December 27, 2004. The length of the article is 1854 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

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Title: Home mortgage l… More >>

Home mortgage lenders: greater San Fernando Valley-based, ranked by dollar amount of mortgage lending in 2003.: An article from: San Fernando Valley Business Journal

Turnpike Roads: Lenders Of Money On Mortgage Of Tools, Cannot, Under The Present Acts, Have Any Legal Security

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A Reply, In Support Of This Doctrine, To William Knight Dehany…. More >>

Turnpike Roads: Lenders Of Money On Mortgage Of Tools, Cannot, Under The Present Acts, Have Any Legal Security

Commercial Mortgage Lenders – Overview

There are essentially four sources of capital from commercial mortgage lenders.  Basically all commercial mortgages come from theses sources, which are commercial private money lenders, conduit or CMBS lenders, SBA lenders and portfolio bank/lenders.  Though these distinctions can be somewhat blurred, for example some national banks pool and sell their loans like CMBS lenders, these four categories are what make up the commercial mortgage market.  Let’s take a brief look at each individually.

Commercial Mortgage Lenders - Private Money

This category is comprised of individuals to private hedge funds that loan their own money secured by commercial real estate.  These sources also go under the names bridge loans and or commercial hard money.  There terms are usually short at 12 -24 month, with interest only payments with rates and fees on the high side.  Borrowers should expect to shell out 3 -6% on the front with rates between 12% – 16%.  These programs are often used by individuals that have short time frames and or have been turned down by banks. 

Commercial Mortgage Lenders – Conduit or CMBS Lenders

CMBS or Commercial Mortgage Backed Securities type loans have been getting a lot of press lately as this category has been dragged down by the residential subprime mess.  Basically this is the Wall Street side of the business where commercial loans are originated and then pooled together in batches often over $100 million and securitized into bonds.  These bonds are than sold to large investment companies such as insurance firms or pension funds.  The main benefit for the banks and lenders is the liquidity created by selling the loans off rather than holding onto them.  By freeing up their capital, they are in the position to reinvest into other commercial mortgages.  The main benefit for borrowers with these types of loans are many, such as long term fixed rates, longer amortization periods and competitive rates. 

SBA Lenders

Lenders and banks that are set up with the SBA boast a few strong advantages over traditional bank loans.  I.e. 90% financing and longer fixed term rates are 2 examples.  It’s important to note that the SBA does not lend its own money but guarantees banks, in case of borrower default, that the bank will receive all or a portion of their money back.  Think of it as an insurance program for the bank.  The funding bank or lender are often more aggressive with their terms because of these guarantees.  Unfortunately SBA loans are only for businesses that occupy their building and not available for investors. 

Commercial Mortgage Lenders – Portfolio

Portfolio banks or lenders essentially loan their own money which they often receive from deposits.  This is the most traditional type of banking and was the norm in the past.  These banks that still operate in this fashion are often smaller local banks that often only cover one or two states.  They do have some flexibility with their underwriting as they are making much of the decisions to fund on their own.  However most portfolio lenders are conservative in nature.   It’s interesting to note that portfolio lenders are experiencing good growth (relative to the whole banking industry) right now as many are in strong positions as they are not dependant on Wall Street for their capital. 

 

 

Jeff Rauth is President of Commercial Finance Advisors, Inc out of Birmingham, Michigan. He has a STORE for commercial loan brokers. Contracts, spreadsheets, books, etc. Products starting at $4.95! Check it out small commercial mortgages or bad credit commercial mortgage or commercial loan rates

Comparing Mortgage Lenders

When it comes to mortgage lending, checking and comparing the different lenders is the most difficult task. There are a number of charges applicable though, for every step of the procedure involved. Mortgage packages include the opening and closing costs, the quoted rates and the interest applicable. It is necessary to investigate the Mortgage Insurance, credit and cash reserve, lock-in period and the floating interest, before making a final decision. Thorough research is very important because a small difference in the mortgage rate can make a huge difference to the monthly payment.


Listed below are some essential requirements of the procedure that should be looked into, before closing a mortgage deal:


– The current mortgage rates.

– The documents required for the approval.

– The opening and closing costs applicable.

– The initial application fees.

– The lock-in period.

– Rate of floating or fixed interest.

– The mortgage insurance.

– Total lender fees payable.

– Monthly payment.


There are two kinds of mortgages offered by the mortgage lenders. One is the Fixed Rate Mortgage and the other is the Adjustable Rate Mortgage. In Fixed Rate Mortgage, interest rates are fixed over a period of time. An ARM or Adjustable Rate Mortgage is a unique loan product, where periodic changes affect the interest rate. In this product, the interest rate, as well as the monthly payments, fluctuate over the period of loan.


The application fees are primarily charged to process the loan. You are required to pay this charge at the time of applying for the loan. Some lenders include the application fee in the closing costs. Usually lenders do not refund the application fee, if the loan is not approved or you suddenly opt out of the deal.


Lenders need to estimate the market value of the property, before approving the loan. You are expected to pay an appraisal fee to the lender, to take care of the costs involved in getting the property appraised. The appraisal helps the lender to decide on the amount of mortgage that could be approved. Factors like location, use, condition, income from the property, replacement value and current cash value affect the appraisal.


You should try to avail of at least three Good Faith Estimates from the mortgage lenders. They are only estimates and the actual amounts vary. Some lenders charge Loan Origination Fees that cover the costs involved in evaluation, preparation and submission of the proposed mortgage loan documents. One percent origination fee is equivalent to 1% of the loan amount.


Closing Costs include the amount paid to the state or local government and the cost of getting the mortgage. The amount paid to the local or state authorities includes, property taxes, transfer fees and recording or documentation charges.

The total cost of getting the mortgage includes the expenses borne for conducting the surveys, credit checks, title checks, loan origination, documentation and processing fees and insurance.


The Recording & Transfer Charges are the fees paid by the borrower to the government, for recording the transaction and transferring the property title. Last, but not the least, you should make queries about the terms and conditions. A mortgage could possibly be the most important and largest debt you would ever be paying back.

Joe Kenny writes for the UK Loan Store, offering applications for secured loans and also information on UK mortgages and other loan topics available on site.

California Home Mortgage Lenders Help You Help Yourself

Have you been California dreaming? Maybe you see yourself up on the big screen, and your footprints set along the Hollywood Walk of Fame. Perhaps you picture yourself catching waves or a tan at a fabulous Malibu beach. California seems to have it all: year-long mild temperatures, palm trees, and a laidback lifestyle. With the help of California home mortgage lenders, though, you won’t have to settle for California dreamin’ for long. You, too, can live that California dream in your own home!

Bad News before the Good

In recent years, the Golden State’s cost of living has steadily increased, with San Diego and Los Angeles becoming some of the most expensive U.S. cities to reside in. So many Californians have packed up and relocated to other states. Not all of the news is bad, however. California has the largest Gross State Product, or GSP, in the entire United States. Also, the Golden State has several regions, including Silicon Valley, Napa Valley, and Hollywood, which are vital to the nation’s economy. Moreover, the state’s average personal income ranks in the top quarter of the country. In fact, the housing industry is alive and kicking in California. In 2005, it accounted for nearly $70 billion and 490,000 jobs state-wide.

Cooling Off, California-Style

Experts believe the housing market around the country has started to cool. That trend can be observed in Southern California, where more homeowners are pursuing “mortgage debt forgiveness.” This happens when home prices drop and the property’s value is less than the mortgage debt. These “short sales” are used to avoid home mortgage foreclosure. Foreclosure occurs when California home mortgage lenders must sell your home due to your failure to comply with the mortgage agreement. Note, however, that the growing use of “short sales” should not scare you from contacting California home mortgage lenders about a loan. A “short sale” can put you in charge if you ever need to cut your losses.

Numbers, Numbers, Numbers

Before doing business with California home mortgage lenders, you should first look up the rates and Annual Percentage Rates, or APRs, of various California mortgages. Put yourself in the driver’s seat by filling out a short form to get the mortgage rates of several California home mortgage lenders. Some popular types of mortgages in California include the 30-year fixed, 5-year interest-only mortgage and the interest-only, 30-year fixed mortgage.

Let the Directory Direct You

Use a mortgage directory to get the mortgage rates of hundreds of companies. After finding the company with the perfect fit for your mortgage needs, give the company a ring. A ring will put you well on the way to making your dream a reality.

When Enough Is Enough

An issue that you must determine after contacting a California home mortgage lender is how large of a mortgage you should take out. Although California’s housing market is cooling, it is not completely ice-cold. Banks consider how much of a mortgage is within your budget, so you should think about this before borrowing as much as you want. Several online companies provide a mortgage calculator, so you don’t have to pluck figures out of thin air. Based on how large your loan is and its interest rate, the calculator determines the monthly payment you’ll have to make to a California home mortgage lender.

Truly, with California home mortgage lenders at your beck and call, there’s no reason for you not to be living the California dream. With the right loan, you can live large and live in leisure in California.

Looking for California home mortgage lenders? Visit our site today for resources about mortgage quote or a mortgage quoter.

Commercial Mortgage Lenders

Generally, a property is deemed “commercial” if it is either non-residential or residential with five or more units; and for our purposes commercial mortgage lenders include any entity that originates mortgages on commercial properties. Commercial mortgage lenders range in type from large commercial banks to private individuals who invest in trust deeds. The distinctions between these different types of commercial mortgage lenders are less than clear at times, but we can generally split commercial lenders into the following categories:

Portfolio Lenders

So-called “portfolio” lenders make commercial mortgages with the intention of retaining the generated asset as part of the company’s portfolio. The two most common types of portfolio lenders are commercial banks and life insurance companies; but this category also includes such entities as pension funds, REITs, and savings and investment funds.

CMBS Conduit Lenders

Commercial mortgage-backed securities (CMBS) arose in the late ’80s following the savings and loans crash as a way of enabling investors to participate in commercial mortgage lending within a managed context. Commercial mortgage loans that the conduit originates become part of a standardized pool of such assets, shares of which are then sold to investors. As such, the conduit lender may service the loan, but the interest payments are collected on behalf of the investors. Also see the article CMBS Conduit Lenders

Sub Prime Lenders

Sub prime Lenders may be owned by banks, and the notes they generate may sometimes also be securitized; so the distinction between this type of lender and those above is not due to the source funds or the use of the lender’s asset, but simply the circumstances under which the lender will make a loan: sub prime lenders specialize in making loans to people whose low credit scores prevent them from obtaining financing through conventional commercial mortgage lenders.

Private Investors and Funds

A more diverse and fluid category of commercial mortgage lenders includes so-called “Private” or “Hard Money” lenders. The main distinctions between these types of lenders and the above “institutional” lenders are: (i) that the loaned funds generally come from a private individual or a group of private individuals, rather than from a company’s assets, and (ii) that private lenders are willing to take on loans with higher levels of risk and even profound irregularities in return for a higher return on the investment. Private investors are generally even more flexible than sub prime lenders when it comes to property condition and borrower qualifications.

Generally…

Conduit loans often have fairly strict property condition and term requirements due to the fact that the asset must be homologized for purposes of securitization. For example, the defeasance clause type of pre-pay penalty is particularly popular with conduit lenders: according to this type of penalty, the borrower must replace the value of the lender’s return with other appropriate securities if he wishes to pay the loan off before the term expires.

Nevertheless, banks and life insurance companies are not particularly competitive for term loans currently. Many banks have either developed a conduit section, through which they can originate conduit loans for term purposes; or they actually refer term loan requests to an associated conduit lender. Banks generally do remain competitive for short- to mid-term construction loans, mini-perm loans, smaller term loans (under $2 million), and are still the exclusive source for SBA loans.

Sub-prime lenders and private money lenders offer loans for projects that do not fit into the strict guidelines of the conventional programs, including bridge loans, loans on unconventional properties, and low credit loans.

A. Heinrich is the president of Lendicom Inc., and online commercial mortgage marketplace

Home Loan Modification Program May Be Helping Subprime Lenders

Subprime lenders who fueled the U.S. housing crisis may be reaping benefits from the Obama administration’s Home Loan Modification program, according to a report from the Center for Public Integrity (CPI).

The $75-billion program, dubbed Making Home Affordable, grants taxpayer subsidies to lenders who successfully lower monthly payments for troubled borrowers. However, the study shows, 21 of the top 25 participating lenders were involved in subprime loans, which led to the housing collapse in the first place.

CPI executive director Bill Buzenberg says that much of the money is simply going back to the same companies that started the problem. According to the report, three of the biggest lenders – Countrywide, Wells Fargo, and JPMorgan Chase – are eligible for several billion dollars in aid under the program.

The government has recently urged lenders to crank up their home loan modification assistance programs as the Making Home Affordable plan went off to a slow start. As of last month, less than 10% of eligible borrowers have been aided by the program, according to estimates by the Treasury Department.

The CPI report went on to show that mortgage lenders and servicers have been slow in following the government’s efforts to stem foreclosures, despite “intense pressure” from the White House and the Congress. This is why, the report said, the government has resorted to incentive payments to get them to participate.

Major lenders have slammed the report, saying it undermines their real efforts to help homeowners. Scott Talbott of the Financial Services Roundtable, a group consisting of the largest U.S. lenders, says that it oversimplified the roots of the housing crisis and ignored the complexities of the real estate market.

Talbott added that lenders are doing what they can to help troubled homeowners through the Making Home Affordable program, as well as other foreclosure prevention initiatives.

To choose the best home loan modification program consult an authorized home loan modification consultant. For more news and articles on home loan modification program visit the best online Loan modification Information Resource: CDLoanMod.com

The Author is a Loan Modification Assistance specialist who writes on various home loan modification related topics to help people understand & choose the best Loan Modification option. For more helpful articles visit the author?s blog at http://loan-modification assistance.blogspot.com