Are you a Residential Mortgage Broker who has a Commercial deal you don’t know what to do with?
Having worked on the residential side of the business I understand your frustration. You may be learning firsthand just how different the commercial side of things is.
You simply cannot work on a Commercial Real Estate loan as you would a Residential Real Estate loan.
In the past we used to work with Residential Mortgage Brokers when they would get the occasional Commercial deal. Typically we’d do this in a C0-Broker relationship.
However, what we ran into more often than not was trouble. Because the Residential Broker did not understand the Commercial side, and would not relinquish the authority for us to work with the Client exclusively on getting their financing, more often than not we’d put a lot of work into a deal, only to have it fall apart.
So my partner and I made the decision to no longer Co-Broker any Commercial Real Estate deals with Residential Mortgage Brokers. It was not a difficult decision to make. We have outstanding relationships with our Lenders. We close more Commercial Real Estate and Business Loans than anyone else in the Country.
It just did not make sense for us to invest our time and effort, to utilize the resources and relationships we have worked long and hard to build, to have a deal blow up at the last minute due to someone not having the knowledge needed to get the loan closed.
However, if you are a Residential Mortgage Broker who has a Commercial Mortgage deal, and you are serious about helping your client obtain the financing they need, we may have an option for you to consider.
If you are willing to let us work the deal exclusively, without any interference, we may be able to work out an equitable situation.
This will only be considered on a case by case basis, so we make no promises.
And it will only occur when we handle the loan exclusively. Meaning you have no contact with the Borrower until after the loan closes.
You simply make the introduction, hand off the Borrower to us, and we work with the client to get the loan closed.
Of course we will keep you informed during the process. But you cannot have any contact with the Borrower unless and only if we specifically ask you to do so.
If that’s something you are interested in, call us. If not, we wish you well.
