Brokers
Commercial Mortgage Broker/Correspondents
By becoming our correspondent, you would earn in excess of one point based on the finance and placement fees on any FHA loan which is paid within one or two days of a closing. Any borrower you refer that we sign, is protected for two years from his/her last submission. We cannot offer protection from other brokers as they have to conform to HUD rules so we try and sign them up if they appear. We would only pay you in those circumstances and not include the other broker in the initial transaction.
The biggest p
rotection is that you become our correspondent when we send the engagement letter on any loan and that protects you in three major areas:
1) You never have to chase a borrower for fees
2) Because you are our correspondent, not a broker, you never have to worry about licensing issues (33 states require some form of commercial mortgage brokers license now).
3) It does not cost the borrower any more to use your services than if he called us direct.
Because of the volatility in the credit markets, we are only doing FHA insured loans currently. Please use our one page Quote Sheet for all quotes and email us your complete contact information so we can get you in our data base.
Please understand, when a deal gets to us, the property should be under the control of the borrower. Quotes can’t be completed without the quote sheet as we need the information standardized. If you are having trouble explaining the programs please call us.
A suggested scenario most all of our successful brokers use is:
1) Send the borrower a term sheet or program sheet, explaining that you are a correspondent (does not cost him anything to go through you) and you represent a national lender. We have blank program sheets that you can use by adding your own logo and contact information. You can cut and paste the following text:
“We are a national correspondent for a government sponsored insured program that will do a non-recourse conventional apartment loan up to 90% with a 40 year fixed rate and term. These programs are insured by the US Government so we can’t run out of money and it is fast becoming the only real game in town for acquisition, refinance, new construction and substantial rehabilitation for all types of apartments, assisted living, nursing homes and mobile home parks.”
2) Upon our receipt of the “Quote Sheet”, we would issue a quote that looks like the closing statement or application for an insured loan. All the expenses are on it. The next step after a quote is issued would be a conference call with the borrower and if we get the preliminary information we need, we would present the deal for credit approval and issue an engagement letter. The EL is the commitment to fund the loan based on the FHA rules for that insurance program and processing starts immediately.
We offer our correspondents training materials, free mailing/cold call lists, and some promotional materials you can customize. Please call us at 800-536-3371 with any questions or email us at info@trustlender.com.
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“multifamily loans”
“multifamily mortgages”
“multifamily new construction”
“multifamily refinance”
” multifamily construction loans”
“multifamily new construction loans”
“multifamily new construction mortgages”
“multifamily substantial rehab”
“multifamily sub rehab”
“multifamily sub rehabilitation”
“multifamily substantial rehab loan”
“multifamily sub rehab loan”
“multifamily sub rehabilitation loan”
“multifamily substantial rehab mortgage”
“multifamily sub rehab mortgage”
“multifamily sub rehabilitation mortgage”
“apartment loans”
“apartment mortgages”
“apartment new construction”
“apartment refinance”
“apartment construction loans”
“apartment new construction loans”
“apartment new construction mortgages”
“apartment substantial rehab”
“apartment sub rehab”
“apartment sub rehabilitation”
“apartment substantial rehab loan”
“apartment sub rehab loan”
“apartment sub rehabilitation loan”
“apartment substantial rehab mortgage”
“apartment sub rehab mortgage”
“apartment sub rehabilitation mortgage”
“assisted living loans”
“assisted living mortgages”
“assisted living new construction”
“assisted living refinance”
“assisted living construction loans”
“assisted living new construction loans”
“assisted living new construction mortgages”
“assisted living substantial rehab”
“assisted living sub rehab”
“assisted living sub rehabilitation”
“assisted living substantial rehab loan”
“assisted living sub rehab loan”
“assisted living sub rehabilitation loan”
“assisted living substantial rehab mortgage”
“assisted living sub rehab mortgage”
“assisted living sub rehabilitation mortgage”
“ALF loans”
“ALF mortgages”
“ALF new construction”
“ALF refinance”
“ALF construction loans”
“ALF new construction loans”
“ALF new construction mortgages”
“ALF substantial rehab”
“ALF sub rehab”
“ALF sub rehabilitation”
“ALF substantial rehab loan”
“ALF sub rehab loan”
“ALF sub rehabilitation loan”
“ALF substantial rehab mortgage”
“ALF sub rehab mortgage”
“ALF sub rehabilitation mortgage”
“nursing home loans”
“nursing home mortgages”
“nursing home new construction”
“nursing home refinance”
“nursing home construction loans”
“nursing home new construction loans”
“nursing home new construction mortgages”
“nursing home substantial rehab”
“nursing home sub rehab”
“nursing home sub rehabilitation”
“nursing home substantial rehab loan”
“nursing home sub rehab loan”
“nursing home sub rehabilitation loan”
“nursing home substantial rehab mortgage”
“nursing home sub rehab mortgage”
“nursing home sub rehabilitation mortgage”
“SNF loans”
“SNF mortgages”
“SNF new construction”
“SNF refinance”
“SNF construction loans”
“SNF new construction loans”
“SNF new construction mortgages”
“SNF substantial rehab”
“SNF sub rehab”
“SNF sub rehabilitation”
“SNF substantial rehab loan”
“SNF sub rehab loan”
“SNF sub rehabilitation loan”
“SNF substantial rehab mortgage”
“SNF sub rehab mortgage”
“SNF sub rehabilitation mortgage”
“Hospital loans”
“Hospital mortgages”
“Hospital new construction”
“Hospital refinance”
“Hospital construction loans”
“Hospital new construction loans”
“Hospital new construction mortgages”
“Hospital substantial rehab”
“Hospital sub rehab”
“Hospital sub rehabilitation”
“Hospital substantial rehab loan”
“Hospital sub rehab loan”
“Hospital sub rehabilitation loan”
“Hospital substantial rehab mortgage”
“Hospital sub rehab mortgage”
“Hospital sub rehabilitation mortgage”
“Brokers Protected”
“Free”
“Correspondent”