Final November Online

Issue 017 November 2008 TheNicheReport.com

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16 FHASecure

What you need to know.

the 21 Managing Peaks and Valleys Tips to help you manage your cash flow.

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CONTENTS

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Issue 016

October 2008

NICHE REPORTS PRIME & FHA

pg 35

NONPRIME & ALT–A

pg 37

FHASecure

REVERSE MORTGAGES

pg 37

leslie petersen

HARD MONEY

pg 38

What you need to know.

CONSTRUCTION/REHAB

pg 41

COMMERCIAL

pg 42

www.mortgagecurrency.com

FOUNDER & PRESIDENT Robert Pegg [email protected] CO-FOUNDER & PRESIDENT David Pegg [email protected]

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Ethics: Perspective of a Felon

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Jerome Mayne member of the National Speakers Association & the Real Estate Educators Association Strive to be honest, diligent and consistent.

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Tom ninness Vice President/Regional Production Manager for Cherry Creek Mortgage More contacts with less effort.

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Diversification Raymond Bartreau President of Best Rate Referrals When opportunities present themselves.

November 2008

Center Stage with Netmore America the niche report A next generation mortgage banker.

Managing the Peaks and Valleys Gretchen Underwood Assistant Vice President of the Commercial Banking Group Tips to help you manage your cash flow.

Creating a 1800# Call Capture Lead Machine

EDITORIAL / CONTENT MANAGER Kristen Moser [email protected] COPY EDITOR Stewart Mednick [email protected] ACCOUNTING MANAGER Shawna Ingram [email protected] sales manager Mark Moulton [email protected] Production Mananger Henry Suchman [email protected] Production Assistant Dawn Exner [email protected]

DEPARTMENTS

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NOTE FROM THE FOUNDER CALENDAR OF EVENTS TIP OF THE MONTH LENDER & RESOURCE DIRECTORY

ADVISORY BOARD Aaron Krowne President and CEO, IEHI, Inc. COLUMNISTS Stewart Mednick CONTRIBUTING AUTHORS Raymond Bartreau Jerome Mayne Tom Ninness Leslie Petersen Gretchen Underwood

Published monthly by BODA Publishing, LLC PO Box 2618, Stafford, VA 22555 Phone: 540.657.2632 Fax: 703.991.2362 Email: [email protected] www.TheNicheReport.com

SUBSCRIPTIONS This publication is intended for real estate finance professionals. If you are a mortgage broker, lender, loan officer and you do not currently receive The Niche Report, please send your name, company name, and address to [email protected]. Send address change requests to [email protected]. Remember to include the old address. To opt-out of receiving The Niche Report, please send your request, including name, company name, and address to [email protected].

ADVERTISEMENTS To inquire about advertising in The Niche Report, please call 540.657.2632, or send an email to [email protected]. Visit our website, www.TheNicheReport.com to download a copy of our Media Kit.

EDITORIALS / ARTICLES To submit an article for consideration in The Niche Report, please send an email to [email protected] or call 540.657.2632. We are interested in original writings relevant to mortgage brokers and other real estate finance professionals. If you have a comment or question about an article or editorial published in The Niche Report, or if you have a suggestion for a topic you would like to see featured in a future issue, please send an email to [email protected].

THE NICHE REPORT POLICY The information and opinions expressed by contributing authors and advertisers within The Niche Report do not necessarily reflect those of BODA Publishing, LLC employees and should not be considered as endorsed or recommended by BODA Publishing, LLC.

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NOTE FROM THE FOUNDER

This evening I am driving over to a potential client’s house to discuss their options for getting out of an oppressive mortgage that is slowly drowning them (and their ARM hasn’t even recalculated yet). I know from talking with them over the phone that they are underwater in their current mortgage and there is not even a one percent chance they will qualify for a new mortgage. You may be asking yourself “then why go over there if you know they won’t qualify?” My answer is that not only is this the right thing to do, but these folks need sound advice and help figuring out their options. I may be able to refer them to one of many reputable business partners I have aligned myself with in this struggling market. I mention this story because in this issue of TNR we have many articles related to helping you, the loan originator, offer potential clients those different options. Leslie Petersen, who has over 30 years experience in mortgage lending and also writes for MortgageCurrentcy.com, is back with our feature article on FHASecure. The media and government are touting the new Hope for Homeowners (H4H) program as the savior to this foreclosure mess, however, Leslie firmly disagrees and she will tell you why. We also have Raymond Bartreau, President of Best Rate Referrals and a nationally recognized marketing consultant, writing on the topic of building multiple relationships with reputable professionals who specialize in all of the following: credit repair, loan modification, short sales, debt settlement and Bankruptcy Law. I would like to take this opportunity to publicly thank VAMB, especially the Executive Director - Steve Baugher. We recently attended the 20th Annual Convention held in Virginia Beach. He and VAMB made us feel extremely welcomed and put on a great show. Steve/VAMB – Thank you, TNR looks forward to next year’s convention and will be here to help VAMB in any way we can. This month we are off to NAMB/West at the MGM Grand in Las Vegas Nevada (check out the TNR calendar for dates and details). The vendor lineup looks very well-rounded and I invite anyone attending to stop by and visit our booth, # 623. Look forward to seeing you there. Keep up the fight,

Robert Pegg

TheNicheReport.com

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CALENDAR OF EVENTS

Upcoming Key Dates & Events: November & December november 2008 S M T W T

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NAMB/West 2008 Conference at the MGM Grand in Las Vegas, NV. Visit www.namb.org for details.

MBA’s Commercial/Multifamily Capital Markets Winter Conference at the Ritz Carlton in Washington DC. Visit www.mbaa.org for details.

November 17

December 9

NAMB/West 2008 Conference at the MGM Grand in Las Vegas, NV. Visit www.namb.org for details.

Housing Forecast / Pending Home Sales Index released by the NAR

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3rd Quarter Metro Home Prices/State Resales released by the NAR

November 6 MBA’s Residential Underwriting Conference at the Embassy Suites Tampa - Downtown Convention Center in Tampa, FL. Visit www. mbaa.org for details.

Commercial Leading Indicator released by the NAR

November 7

November 24

MBA’s Residential Underwriting Conference at the Embassy Suites Tampa - Downtown Convention Center in Tampa, FL. Visit www. mbaa.org for details.

October ExistingHome Sales released by the NAR

Housing Forecast/Pending Home Sales Index released by the NAR

November 15 NAMB/West 2008 Conference at the MGM Grand in Las Vegas, NV. Visit www.namb.org for details.

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November 20

November 2008

December 4 MBA’s Commercial/ Multifamily Capital Markets Winter Conference at the Ritz Carlton in Washington DC. Visit www.mbaa.org for details.

Commercial Real Estate Market Forecast released by the NAR

December 23 Existing-Home Sales released by the NAR

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ethics: perspective of a felon Strive to be honest, diligent and consistent BY JEROME MAYNE

D

oes it come as a big surprise that a convicted felon— indeed, a white collar criminal—would have developed some thoughts about the topic of ethics? Probably not. Since my conviction, I have had plenty of time to ponder the idea of ethics, and I’ve conducted some research on my own about the subject. In doing so, I’ve received tons of advice. I must say, I wish I’d had this information at the beginning of my career. In 1999 I began serving a 21 month federal prison sentence for conspiracy to commit mail and wire fraud. The crime involved four real estate investors submitting fraudulent documentation in order to get approved for residential home loans. I was their loan officer. After the first few transactions, I knew in my heart that some of the documents I accepted were fakes. Over a nine month period I gradually started participating in the profits. I have been told by some people that my crime was “fraud lite.” Some have said that I was unlucky; wrong place at the wrong time. Well, there is no such thing as fraud lite, and luck has nothing do with making the right decisions. I committed a crime. I am not proud of it and I’m certainly no hero for talking about it now. However, there is an ethics lesson to be learned in all of this. Dictionary.com defines ethics as “a set of principles of right conduct.” My understanding of being ethical was that I base my decision to do or not to do something on the feeling I get

in my stomach. If that’s the case, how does someone teach “stomach feeling” to someone? Perhaps this logic is what led me astray. In a business’ Code of Ethics, one can’t possibly account for every situation. For every principle of correct conduct; for every “right” way to act in one situation, there is a different situation that follows, that may require yet a different “right” way to act. I was traveling in my car with my boys, four and seven years old. In the rear-view mirror I saw the older one punch the younger one on the arm. The young one howled, “aaahhhhhhhhooooooowwwww-auh!” I said, “Hey! Don’t punch your brother.” Immediately, the older one slapped his little brother in the arm. I said, “Don’t slap your brother either.” This was followed by a poke, which I followed with, “don’t poke.” A tickle – “Don’t tickle.” Then just a touch. Finally, I said, “keep your hands to yourself, period!” The instigator was reduced to leveling a taunting glare at his younger sibling. This could have gone on for hours. I finally gave them the ol’, “Don’t make me come back there!” (Which of course made no sense since, I was driving.) Doesn’t this example prove that there are simply too many variable situations in the real world? Yes, but through my experiences, I have learned that ethics isn’t about situations. It is about people and their behavior. Ethics doesn’t stand for “what to do.” It stands for “how to behave.” Finally understanding this made ethics less confusing for me. Not crystal clear, just less confusing. For employers and leaders, it is imperative that you

TheNicheReport.com

13

have a set of principles of right conduct. But to simply disseminate this information in printed format will not be enough. Ethics are best conveyed by example. Additionally, violations of ethical standards must be dealt with and not overlooked, or the unethical behavior will become business as usual. If you are a member of an organization that adopts a code of ethics, read the printed words and follow the examples of the leadership. Pay attention to the feelings in your stomach. They may not tell you exactly what to do, but it may serve as a red flag. Remember, justifying questionable behavior is nothing more than being dishonest with yourself.

Here are my theories: • Lead your ethics model by example. • Follow your ethics model with honesty. • Follow your instinct - it rarely tells you to do the wrong thing, first.

Take this convicted felon’s experiences and words for what they’re worth.. Strive to be honest, diligent, and consistent. Society, your company, your family, and your children need you to stay out of prison.

Jerome Mayne is a keynote speaker and author. He has worked with dozens of companies and associations around the country helping their people make the right decisions, when the right decisions aren’t easy. He is a member of the National Speakers Association as well as the Real Estate Educators Association. He’s the author of the book, Life Saving Lessons – The Diary of a White Collar Criminal and co-author of Mortgage Fraud and Predatory Lending – what every agent should know (Kaplan Publishing). Jerome can be reached at [email protected]. www.fraudcon.com His books can be purchased online at www.maynefelon.com/products.html © 2007, Jerome Mayne

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FHASecure What you need to know By leslie petersen

M

y original “assignment” was to write about how mortgage brokers can take advantage of FHA’s new Hope for Homeowners (fondly nicknamed H4H by HUD) to help their clients who are delinquent, underwater, or simply over their heads in mortgage debt. My assessment so far is that H4H “isn’t worth the paper it’s written on.” The better FHA option is FHASecure, an alternative program that works amazingly well for FHA approved brokers and their homeowner clients who are currently in trouble. A huge glitch is that the entire FHASecure program is currently scheduled to expire 12-31-08; whereas H4H is ongoing until 9-30-11. I strongly believe that FHASecure will be extended, mostly, because it looks so great politically – not to mention that it’s actually working. However, I sure can’t guarantee it.

Brief Overview, Hope for Homeowners (H4H) Before I entirely dismiss it, it’s only fair for me to tell you a little about Hope for Homeowners. H4H was legislated by the Home Economic & Recovery Act, and is being highly publicized by Washington as the program that will save the economy from foreclosures. I beg to differ. H4H became effective with HUD’s thirteen page Mortgagee Letter 2008-29, October 1, 2008. The parameters are quite complex and qualifying is difficult. It may take some time for pricing to settle down, but interest rates will likely

be the same or higher than those of delinquent FHASecure loans. The Upfront MIP (UFMIP) is three percent and the annual premium is a hefty one and a half percent. The nationwide loan limit is generous at $550,440; however, the maximum LTV including all payoffs, the three percent UFMIP, and all costs of the loan – is only 90 percent. Lenders are expected to waive their fees and cut their payoffs to make it work. There can be no secondary financing remaining. H4H borrowers must sign two additional promissory notes and mortgages with HUD, both recorded, which “share” (a) the current ten percent equity in the home (remember, it’s 90 percent LTV), and (b) any potential future appreciation. HUD will sometimes split some of their portion of the future appreciation with 2nd mortgage lenders, yet never with the 1st mortgage holders. Needless to say, this doesn’t sit well with first mortgage lenders. I can’t fail to mention that per legislative mandate, HUD won’t insure the new H4H loan if the borrower fails to make the first mortgage payment; another ouch for the lenders. Personally, I don’t think H4H is all that great a deal for homeowners or lenders, in trouble or not. My guess is that some of the larger lenders will use the program, but only as a last resort. Mortgage brokers most likely won’t get involved in H4H loans at all, which brings us back to FHASecure.

The FHASecure Program FHASecure has been around since August 2007, when it was established as a Presidential Initiative. Originally, it only helped homeowners who were delinquent as a direct result of a reset in their conventional ARM loan. On July 14, 2008, FHASecure was expanded to include all of the following: • Eligibility –rate and term refinances of conventional mortgages only • Loan amounts – from 97.15 percent to 98.75 percent of new value, up to the maximum allowable FHA loan limits in the area • Full borrower qualifying – with eligibility leniencies • CLTV Options for Insufficient Equity – unlimited CLTV to accommodate work-outs with current lenders • Non-delinquent FHASecure – standard FHA rates

and MIP for borrowers who need to get out of a conventional loan yet are not currently delinquent • Delinquent FHASecure – borrowers who are currently delinquent on a conventional ARM loan with many leniencies for prior and current mortgage delinquencies The point is to assist homeowners out of any conventional mortgage that they need, and into a nice, safe, FHA loan.

FHASecure - Maximum Loan Amounts The maximum LTVs range from 97.15 percent to 98.75 percent, exclusive of upfront MIP, up to the maximum allowable statutory loan limit for the area. Effective January first, 2009, the new maximum LTV is expected to be 100 percent, inclusive of upfront MIP. (Final calculations are still being hammered out by HUD as of this writing.) FHASecure - Qualifying With the exception of credit “eligibility” leniencies as allowed by the program, all FHASecure borrowers must fully qualify for the new loan using FHA’s standard underwriting guidelines. FHA only wants borrowers who are truly able and willing to make their future house payments; a homebuyer jumping from one bad situation into another helps nobody. FHASecure - Insufficient Equity - Delinquent or Non-Delinquent For homeowners who owe more than 100 percent of the current value of their home, FHASecure encourages “work-outs” with the current lender(s) by allowing unlimited CLTVs for existing and for newly created subordinate financing. Examples of “work-outs” include: 1. Existing secondary financing can be re-subordinated or modified to add outstanding charges or to otherwise accommodate the transaction. 2. A new second mortgage can be created by the current lender (or other source) to • cover payoff shortages and past due fees and charges, sometimes including PITI arrearages; or • cover all amounts that exceed FHA’s current maximum loan limit for the area. 3. Funds for new financing can come from any TheNicheReport.com

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source, such as “rescue funds” which are becoming increasingly available through non-profits, states, and other government agencies. There are restrictions on the terms of the secondary financing that I haven’t covered (see ML 2008-13); even so, lenders are becoming more and more willing to negotiate as opposed to paying the costs of foreclosure. Although clients must always negotiate directly with the lender, the new FHASecure loan won’t come together without the oversight and assistance of an educated and resourceful loan originator. Note: If the subordinate financing is a new loan as opposed to re-subordination or modification of an existing loan – the lender will price the new FHASecure mortgage using “delinquent” pricing, regardless of whether or not the loan is delinquent.

FHASecure Non-Delinquent Non-delinquent FHASecure includes all conventionalto-FHA rate and term refinances that are not currently delinquent. What’s great is that interest rates along with FHA’s upfront and annual mortgage insurances are the same as regular 203(b) mortgages, with the exception in rates noted above. In addition to all of the CLTV options above, the FHASecure non-delinquent has some credit underwriting leniencies. For instance, ML 2008-13, page 7, suggests that clients who kept their mortgage current yet let other loans slide should be given favorable considerations. Also, DE underwriters are encouraged to allow prior mortgage delinquencies that were clearly caused by a reset. No matter, the ultimate decision is still up to the DE Underwriter and/or lender who often impose their own credit standards or minimum credit scores. FHASecure Delinquent “FHASecure delinquent” is for refinancing conventional ARM loans only, and only if they are currently delinquent. (Prior delinquencies fall under “non-delinquent” FHASecure.) The delinquency must either be (a) caused by a reset, or (b) the result of extenuating circumstances. Option (b) is not available for those refinancing from interest only (IO) or from Option ARM loans. FHA has very specific limitations on the amount of times that the current loan can be delinquent, and for some reason, they are much more tolerant when the loan is not

an IO or Option ARM. (Don’t ask me?) Originators and brokers must examine the homeowner’s prior mortgage credit history at the very first of the process to make sure they qualify. FHASecure “delinquents” have much higher pricing than regular 203(b) mortgages. The Upfront MIP is three percent, though the annual is only 0.55 percent. Any future refinance of a delinquent FHASecure must be full-qualifying, as they are not eligible for streamlined refinances. However, you can always look to these borrowers for future refinances at lower rates once their credit history improves.

Bottom Line Whenever I’m speaking to an industry group about FHA mortgages, I always review FHASecure as one of the many viable niche products available. It’s not unusual to have one or two originators say that they are never able to get FHASecure loan files through underwriting; while others in the same room have successfully originated FHASecure mortgages time and again. I’m pretty sure that the first category lacks the education and/or patience necessary to make this loan workable. For a copy of HUD’s ML 2008-13, go to www. hudclips.gov. Additional information and reference charts are also available through my website. In the end, FHASecure is not a save-all. It won’t help all of your clients who are experiencing difficulties making their payments, but still, HUD reports a total of 325,000 FHASecure mortgages made as of August 2008, only one year since inception of the program. H4H does not come close to replacing FHASecure. I’m not the only one who will be highly disappointed and shocked if the program isn’t extended. Leslie Petersen with over 30 years experience in mortgage lending, writes www.MortgageCurrentcy.com, an online newsletter on the changes in Fannie/Freddie, FHA, VA and other regulatory agencies--but with a twist. For Originators, Underwriters and Managers, she also interprets them in plain English and shows them how to make the rules and changes work for them--and get more of their loans approved. Find her at [email protected].

TheNicheReport.com

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MANAGING PEAKS AND VALLEYS Tips to help you manage cash flow BY Gretchen underwood

E

very small business owner can attest to the importance of cash flow. The amount of time it takes for a dollar to pass through your business from raw material purchases to the sale of finished goods to money in the bank is a critical factor in determining success. According to the latest edition of the PNC Economic Outlook survey, business owners are more pessimistic about their cash flow than they were six months ago: Only 42 percent expect cash flow to increase over the next six months, compared to 51 percent last fall. Regardless of your current cash flow situation, it is a good idea to occasionally take stock of the cash management tools at your disposal. Below are tips to help you and your commercial clients maximize cash flow and make the most of your money: Develop a Liquidity Plan: Does liquidity “just happen” or do you have a plan in place to manage your cash on hand? By creating a simple cash forecast to predict when payments will come in and go out, you can anticipate disruptions to your cash flow. Consider maintaining a line of credit to avoid fluctuations. And if you have significant, predictable payments that occur infrequently such as tax or insurance payments, consider a reserve fund that you grow on a consistent basis to neutralize the disruptions that these disbursements may cause. Take advantage of technologies: The innovative banks offer a variety of technologies that can help manage your cash flow. Traditional services like credit card processing speed up your collections. Corporate cards help to consolidate and track spending as well as make fewer, better timed disbursements. Remote deposit enables you to deposit checks from the convenience of

your office. Online payroll enables you to do your payroll online anywhere that Internet access is available. And automated (online) access to investment balances and lines of credit help keep your cash balance within a target range. Revisit your receivables strategy: Offering credit discounts to your customers may be a competitive requirement in your industry, but be sure to examine these practices closely. How much financing are you providing to your customers? Is every customer treated exactly the same? Are slow payers getting a free ride while you are searching for some liquidity relief of your own? When you look closely at this element of your business model, you can usually identify some opportunity to improve cash flow. Seek out inventory opportunities: According to the PNC survey, 61 percent of business owners expect the prices they pay their suppliers to increase. Assess your inventory needs carefully, evaluate your mix of suppliers and possibly renegotiate trade terms. Inventory always creates pressure on cash flow and now may be the time to reevaluate your practices. Managing cash flow is one the most important things small business owners can do. Poor cash flow is a leading cause of small business failure. By revisiting your contingency plans, leveraging technologies and managing the factors that create cash flow pressure, you are better able to protect your business through the good times and bad. Gretchen Underwood is Assistant Vice President of the Commercial Banking Group at PNC Bank in Manassas, Virginia. To find out if you have the best solutions for the changing needs of your business, contact Gretchen Underwood 703-472-8670, or email her at [email protected].

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21

Hard money for hard times.

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A different kind of loan. A different kind of lender.

Diversification When opportunities present themselves by Raymond Bartreau

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his is no secret, times are tough for many in our changing industry. How do we all keep up? I recently wrote an article on the few forms of marketing still working. What happens when you exhaust all those efforts and have truly tapped into every outlet you have? Where do you go from there? I have the answer for you, “diversification”. I talk to a lot of folks that are currently successful in this market. Many of them have some variable of this same concept – diversification - in their business model, and therefore, able to offer many services to each and every potential client they run into. In order to provide quality financial services with phenomenal customer service you must have a wide array of options, in fact, the more options you have the better. In today’s market with current lending conditions, limited lenders, plummeting values, credit issues, failing banks etc… it is much harder to convert those 2 - 5 deals per month needed to maintain the same type of income generated in past years. What do you do with the folks you can’t refi? Some LOs are now doing loan modification referrals, some are also doing credit repair for their clients. My advice would be to network yourself with as many different people, from as many different areas of the financial services industry. Credit repair… as mentioned above, may be offered to clients by referring out to an agency. If you are not helping your clients find this option you are loosing money every day. Not only do most credit repair agencies pay referral fees but they also refer back to you the client once credit is restored enough to get the loan completed.

Find at least one company (preferably two or three) you can work with on this level. Loan modification… again, this one is mentioned above. Help your “turndown” clients who need it the most before they loose their home completely. Refer them to a loan modification company that will negotiate new terms on their current loan with their current lender. Most of these companies will pay you handsomely for these referrals, which is income on potential clients you normally would not be able to help. Short Sales… With values in the toilet nationwide there have never been a higher number of Short Sales. If you do loans in any of the value stricken areas of the country or if you work any ARM databases you will certainly run into folks that are upside down in their home, to the extent that a Short Sale may be their only option. Go and find an aggressive, reputable Realtor focusing only on Short Sales. Help your client get out of their mess and build yourself a solid relationship with a Realtor at the same time. Debt Settlement… Some home owners are having the most issues with their revolving debt. In years past, we would roll it into the new mortgage during a refi and move on, but in today’s market, it’s near impossible to find borrowers with enough equity to do so. If Refinancing is not an option, try and settle the debt for pennies on the dollar for your client. Refer them to a legitimate debt settlement company; take your referral fee if one exists, and move on to helping your next client. After their debt has been settled, you will most likely have a happy client that may use you in the future or even refer you business. Bankruptcy Lawyer… Unfortunately, some people

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are to the point where they only have one option - and that is bankruptcy. Build relationships with lawyers that perform these Bankruptcies, they are an excellent source of income. They love referrals and don’t mind referring people back to you that may need your service. It’s always good to have a referral source to add to your menu. In my experience, through dealing with over 1200+ Loan officers every month, is that the successful ones have this network already built and is “fine tuning” this network day in and day out. While you are working your “day to day” marketing or advertising options, take your response and put them in the right hands for whatever service they may need. If you can’t help them refinance or meet their loan origination needs, help them and get paid in another way. Most loan officers strive to make 10k+ plus per month, this is still possible, even in this market, IF you diversify yourself and offer more to help your clients. From a consumers’ perspective, if you have all the answers for me, I will remember you over the next guy you can bank on that. People want full service, whether it is from the car wash or helping them obtain a mortgage,

and the more you can offer a client the more money you’ll make. Raymond Bartreau is the President of Best Rate Referrals and a nationally recognized marketing consultant. For more marketing tips and techniques please visit Bartreau’s blog at www.loanofficerconsultant.com. You can also visit Bartreau’s homepage at www.bestratereferrals.com.

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Creating a 1800# call capture lead machine More contacts with less effort. BY Tom Ninness

T

he traditional loan officer has faced many obstacles and has been forced to utilize every tool available to reach the masses. Instead of relying on the basic face-to-face relationship with realtors, builders and past clients, new levels of innovation has elevated the loan officer to becoming a Mortgage Market Strategist. It means thinking ‘outside the box’ to gain clients. Call capture is a unique tool. For mortgage originators, the process records and tracks phone calls 24 hours a day from prospects. Call capture utilizes technology that allows more contacts with less effort. As a means of building relationships, call capture provides an opportunity to pass qualified leads to your best referral sources. Providing solid leads to those professionals with whom you align yourself will help build your sphere of influence. It creates a tool to offer your realtors, builders and “for sale by owners” (FSBO) prospects extended opportunities to touch your best clients. How Does it Work for Realtors? Agents will have the access to your call capture phone number that they may use on their marketing literature and are given specific extensions for each of their listed properties. These extensions are available for all of their marketing material, such as reports, consumer tips, and information on the property. Using the 1-800 technology has the capabilities of increasing the agents’ calls received by 400 percent and can save up to 50 percent in their marketing costs. The realtor has the responsibility of contacting the prospects, providing information, answering their questions and thanking them for their inquiry. Agents may use these extensions for all of their marketing material. As effective as this tool is, making it available to

everyone is not practical. As part of your business planning, clients should be broken into three categories. A, B and C will be used to delineate clients and the probability of purchasing a home. “C”s may be ready for purchase anywhere from 4 to 12 months in the future. They may be “lookie-lous” or serious buyers who just aren’t ready at this moment in time. Periodic email updates, with their permission, keeps your name in the forefront of their mind. Be available to answer questions, but don’t spend a lot of time pursuing their business. “B”s are more likely targets. There has been more consideration on the home buying front and they are serious contenders. Some additional attention should be offered to them, through email, mailings and personal phone calls. Their time frame is more likely 2 to 4 months away and educating them in pre-qualification and preapproval is appropriate. “A”s are the number one candidates. They are ready to buy today. Full attention should be given to their concerns. Frequent contact to these ready-to-buy clients keeps you in the picture, and confirms your dedication to customer service. This process of contact delineation is also appropriate for your professional referral sources. Every category of work relationships can be catagorized into A, B or C type prospects and will save you time and effort. It will also help in identifying who will be the best candidate for the 1-800 Call Capture marketing. “B” and “C” leads will make up 90 percent of your potential market. 75 percent of B & C’s will stay with the first contact that makes the time to educate them. 50 percent will buy from someone in the next 3 to 9 months. Call capture helps drive those potential clients to you. Those B’s and C’s are looking for product information, current rates, help with pre-qualification and pre-approvals TheNicheReport.com

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and ways to improve their credit. Call Capture and the Prospect. Call capture listings pique the prospects’ interest; they see that the information is available 24 hours a day and they can listen to the information at their leisure. If they choose, the prospect can have the information faxed to them or they can be directed to the agent. The agent is notified directly about the interested property and the prospect’s contact information is emailed or text messaged to the agent, even if the phone number is unlisted. Working with Builders. 1-800 Call Captures allows sales coverage for a builder 24 hours a day, giving specific extensions on different models. It provides information, even before the sales trailer is up and running. Working with FSBO’S. Offering the FSBO the technology for prospects to learn about the home for sale also opens the possibility for assisting the home seller in his or her next purchase. All inquiries will be directed to you and allows you the chance to speak with the prospects, encourage pre-qualifying and make that important connection, even if the prospect doesn’t buy from the FSBO.

Although Call Capture costs a small amount per month, the marketing value and benefits for the loan officer is huge. Offering this service to realtors, builders and FSBO’s immediately creates a practical customer service oriented relationship at a minimal cost. As your clients learn to utilize the Call Capture features, it will elevate you and promote you as their lead loan originator. The following is a list of reports that the loan officer may use as a value-added feature for customer support: • For expired listings-“How to Guarantee you’ll get your Home Sold this Time! • For First Time Buyers-“Special Report-‘How to Buy Your First Home the Easy Way!” or Free Report-“How to Stop Paying Rent Forever…and Own a Home of Your Own!” • For Investors-“Avoid 12 Common Mistakes Made by Novice Investors and Guaranteed High Rates of Return! • For those looking for a mortgage in the future-“Secrets Lenders Don’t Want You to Know! Read this 11-Point Report Before You sign Anything!” • Ready to list-“Ready to List with a Real Estate Agent? 13Things Your Agent Must Do To Maximize Your Profits!” The following is a list of 1-800 Call Capture companies. Take time today to research how Call Capture may improve your business. Call Capture Providers www.Realestategrowth.com - Known in the industry as Proquest Technology. Great marketing ideas, reports and ideas to increase your business. www.Realmarcom.com - Excellent reports and articles specific to the mortgage industry www.archtelecom.com - Industry Specific and well known in the mortgage industry www.247callcapture.com - Marketing ideas specific to the mortgage industry Tom Ninness is Vice President/Regional Production Manager for Cherry Creek Mortgage in Denver, CO. Ninness is also the President of Summit Champions, Inc. and creator of the “The 90 Day Journey to Your Sales Success”, a powerful 90 day action plan for the sales professional. To learn more about The Journey and all what Summit Champions has to offer, go to www.90dayjourney.com, www.summitchampions.com or contact Tom at [email protected] Office: 720-221-4396.

©2008 Gregory Funding LLC, an Aspen Capital affiliated company. This is not a commitment to lend. Restrictions may apply. For Wholesale only. Not for distribution to the general public. LTV based on current valuation by Gregory Funding. Gregory Funding reserves the right to amend rates and guidelines. All loans are made in compliance with federal, state and local laws. High-Cost Loans prohibited. Gregory Funding LLC is an Oregon LLC, Oregon Division of Finance & Corporate Securities Lic#ML3575. Gregory Funding LLC, 425 NW 10th Ave Suite 307 Portland, OR 97209. Toll free: 888-324-3578.

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CENTER STAGE WITH NETMORE AMERICA A sustainable future begins with the right relationsips BY THE NICHE REPORT

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he Niche Report would like to introduce you to a new mortgage wholesale lender – NetMore America –who is building a next generation mortgage banker through the power of the right relationships. Mark Freedle, the CEO with the vision to start a mortgage business in Mark Freedle a very difficult environment, gave CEO us the opportunity to find out more about this fast growing Walla Walla, WA based mortgage lender with plans on expanding their footprint throughout the United States. Mark, what drove you to launch a mortgage company in such a difficult lending environment? Mark: Back in 2005 when the mortgage business was setting production records we saw the potential for a correction in residential lending as lenders stretched underwriting standards and non-prime ARM originations increased dramatically. In February of 2006, I began putting together a group of very senior mortgage professionals with strong underwriting and secondary marketing experience to start building out our platform to be ready for the opportunity. We officially launched NetMore in the third quarter of 2007 and funded our first loan at the end of October 2007. Today, we are the fastest growing mortgage company in the Northwest, with specific plans on expanding our footprint throughout the United States over the next two years. How big is NetMore today and where are you going in the future? Mark: Today, NetMore is focused on two lines of business; our wholesale lending channel and our

professional branch system. We have approximately 150 employees and are licensed in 18 states. Our goal is to move east strategically and be a nationwide mortgage banker over the next two years. To help us mange our growth, we are continuing to hire and we project that during the next 12 months we will hire well over 100 new employees. We just made some key senior hires, such as Lisa Schreiber as our Chief Strategy Officer and Scott Holtz as our new Regional Vice President, Eastern Region. From a production perspective, we are projecting full year 2008 mortgage production to be well in excess of $500 million, compared to just $14 million in 2007. By early spring 2009 we are projecting approximately $250$300 million a month run rate. Our goal is to be a top 25 national lender in the next 24 to 36 months. Tell us a little about your senior management team? Mark: We have put together a very experienced group of mortgage professionals. Lisa Schreiber, our new Chief Strategy Officer, her background is in building a quality national lending platform that is both scalable and profitable. Julie Krause, NetMore’s Chief Operations Officer, has more than thirty years of experience in the mortgage industry and was one of the first individuals to get her Computerized Home Underwriting Management System (CHUMS) number in the Northwest. Dan Ferris, our SVP of Secondary Marketing, also has more than thirty years experience that includes a Master Certified Mortgage Banker (CMB) designation. This team with the full support of all of our employees has one goal; to build a sustainable company together. What do mean by “…a sustainable future begins with the right relationships?” Mark: NetMore wants to work with professionals TheNicheReport.com

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that clearly understand what it means to do the right thing for their clients or partners day in and day out. We believe there is tangible value in character and it is the foundation of building a sustainable business. We want to make sure we are always working or partnering with the right people or organization that share our core values of integrity, respect, accountability, forward thinking and commitment to creating value. Through the power of the right relationships, we believe NetMore will become a leading next generation mortgage banker and build a sustainable national platform through responsible lending. Where are you seeing the opportunities in today’s mortgage market? Mark: There are many opportunities that we see in today’s market. First and foremost we see many talented professionals looking for work. This allows us to employ the “best of the best” in our Leadership, Account Executives and Operations staff. We have already seen the value of a great team and the service levels they can provide. Great employees in conjunction with great technology solutions create customer satisfaction and loyalty that we can build on. We also see a real void for the mortgage broker. Finding knowledgeable wholesale lenders that are focused on building their wholesale presence in a sustainable manner is key to their success. Our FHA expertise gives us a significant opportunity as many competitors are still struggling to gain FHA knowledge or hire DE underwriters. All of our underwriters have their DE and we feel this gives us a significant advantage in the marketplace. How is your sales team navigating the current market challenges? Mark: For one, our industry is under siege. When that happens, many people exit and even those that are still employed are reluctant to go out on the street and ask for new business. Surprisingly, we have hired new and very seasoned Account Executives that are telling us just that! By putting our program out there with knowledgeable Account Executives backed up by experienced and customer focused operations, we see a terrific opportunity to grow our market share.

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November 2008

What makes NetMore different from other mortgage lenders in today’s market? Mark: Our objective is to enable our lending partners, mortgage brokers and our professional branch system, to operate efficiently and “friction free”— a model based on service, speed and sustainability. We believe we have a better understanding of the mortgage business and how to execute with a significant strength and expertise in secondary marketing, risk management, communication and a commitment to being a true partner. Explain to our readers what you mean by a “friction free” process? Mark: “Friction Free” means a lending platform that incorporates easy to access web-based portal, intuitive processes where workflows can be easily understood and delivered, and risk mitigation applications that are applied while still allowing the user to move forward in the process with our end product being a complete quality package for investor delivery. Through the use of current web-based technologies and education, we will focus on our adoption rates to provide the biggest lift to our organization. What advice would you give mortgage brokers trying to understand the FHA product segment? Mark: FHA loans are more important than ever and there are few mortgage banking operations that have NetMore’s experience in the FHA product platform. For many brokers, FHA was not a product that was in focus until ALT A went away last year. Many lenders and brokers alike are still scrambling to get FHA approval and even once approved, there is a learning curve that has to be addressed. Experienced FHA lenders, such as NetMore, are few and far between. It makes it essential for brokers to partner with a lender that understands the FHA origination process, has the right relationships, and is committed to providing best in class service. There have been some talk among brokers about how difficult FHA is to work with and that FHA loans take an extremely long time to process. Is this true? Mark: This simply is not the case. FHA has made significant changes to appraisal requirements and the work items that were typical in the past have all but gone away. Processing an FHA loan is no more time consuming

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than typical financing. You just need to have the proper upfront disclosures and order your FHA appraisal through the FHA Connection website. Here is where a broker’s partnership with the right lender, such as NetMore starts to become extremely helpful. As you learn some of the FHA nuances, the knowledge of your lender can help you navigate and make this process friction free for both the broker and their client. What is some advice you can offer mortgage brokers to be successful in today’s environment? The best advice anyone can give today is to evaluate your business model by asking some key questions; What is your origination strategy? Who are you partnering with to help you weather the storm? Is your business model focused on you or are you relying on a lender that might decide they don’t want to “play” anymore? Who can offer you both the education and deliver the service you need to keep your business on track? It’s all about relationships these days and the right ones will make or break your future!

TIP OF THE MONTH

TIP OF THE MONTH Walking the thin line of Benefit BY STEWART MEDNICK

B

enefit to you? Or benefit to the customer? If you benefit, then you are paid well on a closing. If the customer benefits, you do not get paid so well. If you benefit, you need to close less loans in the month. If the customer benefits, you have to work harder and close more. If you benefit, your investors will like doing business with you and you can typically receive better yield spread or rates. If the customer benefits, you have to impress the investor with volume to hedge the less favorable yield spread. As you can tell, the tug-o-war of benefit is an ongoing issue. Many brokers and originators have a difficult time with the ethical issues of drawing the line of benefit to favor both themselves and the customers. The happy compromise is typically a very thin line that requires balance of a Cirque Du Soleil performer to walk it. Bottom line, the benefit should go to the customer. If you are in this business for the long haul, build a reputation now as the mortgage banker who gives good deals. Be the one who clients will refer. Build a lasting relationship based on ethical standards and quality customer service. I have written many articles on tips to provide the customer with a pleasant experience mostly based on personal interaction and amiable service. I have never talked about the monetary aspect of the business. I do not preach how to make a profit or which lender offers the best yield spread, quickest underwrite time, or lowest interest rate. Those are aspects of the industry that you can ascertain as part of your “OJT” and through

the rigor of diligent ‘lender-shopping.’ These are easily learned and easily executed procedures. However, good loans are fewer and fewer and making a healthy living on a third or a quarter of the typical business of three years ago is now the reality. One must maximize each deal just to pay the bills! Benefit, as I have written about in an article entitled “The Formula,” (May 2008 Tip of the Month) I define as anything the customer receives in an exchange as a result of the cost of doing business. The customer’s perceived benefit in the transaction is value. If there is no benefit, there is no value. Perhaps, the customer’s greatest perceived value is the benefit you offer of the lowest interest rates and the lowest closing costs. It may also be the friendliest service, frequent contact, or the fact you remembered the family pet’s name. I would be presumptuous to say that money is not the most important aspect of most mortgage transactions today. Everyone who wants a mortgage wants a good deal. The conundrum becomes the level of benefit that you offer and the level of value the customer perceives and is the two balanced to the satisfaction of yourself and the client? There is no perfect science to this dilemma. In fact, you may make some poor decisions and lose some deals as a result of the lack of benefit offered or executed. The interest rate may be too high, the closing costs are exorbitant, or you may not have called the customer frequently enough. So here is my tip to hedge future situations: Talk with authenticity about the expectations of the loan process, the fees and the interest rate, to your prospects during the initial conversation. Set the standard from the beginning. Cover

TheNicheReport.com

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TIP OF THE MONTH

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the two major aspects of benefit: cost of doing business, and the business of doing service. The customer will not only respect you for your candor, but will be relieved and feel secure that you are providing quality service during a time when the mortgage industry is highly scrutinized. Everyone is feeling a financial squeeze regardless of the profession they pursue. Unemployment, gas prices, food cost and heat for the house are all some of the issues weighing down on every home owner or potential home owner. How refreshing would it be to have “the mortgage guy (gal)” be the straight talker when we are bombarded with political smear ads, campaign propaganda and news about Wall Street executives’ golden parachutes and their collapsed businesses? Be the shining beacon of ethical business practices, authentic customer service, and quality value-added propositions in a current realm of uncertainty, fear, and financial collapse. Yes, you may not make as much as you had hoped on the recent closing, but the client was happy and that was the compromise necessary to get to the closing table. We all have felt the ‘pinch’ and had to check for coins in the sofa cushions just to eat lunch. But provide benefit to each customer and as the business becomes plentiful, you should be busy with repeat customers and referrals. Sometimes we take a cut in commission. I suggest not to cut benefit to the customer. Remember, this is a marathon, not a sprint. Stewart Mednick is a seasoned mortgage banker and published author. His writing focuses on relationship development, personal empowerment, customer satisfaction, marketing and sales techniques. Stewart is available for marketing consulting, personal coaching and training sessions. If you have a comment or a question for Stewart, contact him at 651-895-5122 or [email protected]

NICHE REPORTS

PRIME & FHA Premium Listings

AHEDIRECT.COM/ Freddie: The RainMaker

Fannie, Freddie, FHA, 24-48 Hour Turn Times

949-861-0911

Alternative Mortgage Express 801-671-2397

Greystone Financial Group

Common sense underwriting for FHA, Conforming, Jumbo, Jumbo FHA/ Conforming, and manufactured housing.

CONFORMING, FHA VA, USDA, SISA, COMBO LOANS, LP LEVELS 1,2 & 3

954-557-2457

HCI Mortgage specializes in FHA and 203K financing in 25+ states. Programs include 203k, 203k streamline and 203k jumbo programs

HCI Mortgage 877-724-1720

JMAC Lending Inc

Same day doc and 24 our funding, 1 day off the market refinance

877-841-0776 Low/No Score FHA manual underwrites. Tough FHA deals OK. No min. Score Jumbo loan amounts. Common sense underwriting w/good turn times.

Mid Island Mortgage Corp 703.754.9643 - Tim Dooley

Wendy Edwards (775) 303-3838 cell; 866-922-6943 fax, [email protected]

Titan Wholesale 877-90-Titan ex. 225

United Wholesale Mortgage 800-981-8898 x5638

Wall Street Wholesale

FHA 24-48 Hours on Approve Eligible Loans. 24 Hours on Conditions. 24 Hours to Prepare Closing Docs. Close Your Loan in 5-6 Business Days. Collections do not have to Paid. 95% Cashout on Manufactured Homes. FREE DU on our Website. Conventional/Agency Jumbo, FHA/FHA Jumbo, 203k, Manual UW, 48 hr turntime UW. 5 Points of Contact with Inside Team!

248-361-1908 PRIME Lender Listings Powered by TheLoanPost.com Alternative Mortgage Express

800-552-5263

www.amxloans.com

BAC Florida Bank (Fannie/Freddie only) 305-789-8064

www.bacflorida.com/ratesheet

AME Financial Corp

770-406-2138

www.american-mortgage.info

Banco Popular

www.bpnawholesale.com

Ameribank Mortgage (FHA only)

516-833-8834

www.ameribanksolutions.com

Bank of Ann Arbor (Fannie/Freddie only) 800-807-6337

www.boaawholesale.com

American BancShares

305-817-2165

www.americanbancshares.com

Bank United

www.bankunitedwholesale.com

303-725-2169 772-240-2550

American Financial Resources (FHA only) 973-588-8530

www.afrwholesale.com

Century Lending (Fannie/Freddie only) 407-252-7979

American Home Equity

714-661-5836

www.ahedirect.com

Chase Home Finance

800-338-0487

www.chaseb2b.com

American Partners Bank

954-465-8595

www.apbwholesale.com

Chase Rural Housing

954-422-1232

www.chaseb2b.com

American Sterling Bank

801-208-5454

http://asbloan.com

Chevy Chase Bank (Fannie/Freddie only) 866-591-4355

www.chevychasewholesale.com

Amtrust Bank (Fannie/Freddie only)

888-321-6446

www.amtrustgemstone.com

CMG Mortgage

714-357-3325

www.acceleratedcmg.com

Assurity Financial (FHA only)

866-841-7863

www.assuritywholesale.com

CNB National Lending, LLC

815-412-9305

www.cnbnationallending.com

www.centurylending.net

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

TheNicheReport.com

35

NICHE REPORTS

PRIME Lender Listings continued… Colonial National Mortgage

800-825-1311

www.cnmbrokers.com

(Fannie/Freddie only)

Community First Bank Loan

412-292-8511

secure.pricemyloan.com/custom/cfb

(Fannie/Freddie only)

Mountain West Financial

909-793-1500 x 255 www.mwfinc.com

National Direct Funding (Fannie/Freddie only) 970-672-0805 National Home Lenders

www.ndfcorporation.com

888-344-0520 x 4 www.nationalhomelenders.com

Continental Home Loans

631-393-3800 x 114 www.chlmortgagebankers.com

Nations Direct Mortgage

949-270-7974

www.brokerFHA.com

Countrywide

904-245-8008

www.cwbc.com

NetMore America

509-526-4007

www.netmoreamerica.com

Direct Mortgage Wholesale

801-924-1880

www.directmortgagewholesale.com

NorthStar Lending (Fannie/Freddie only) 954-843-7018 x 7018 www.mynorthstarlending.com/

Eastern Savings Bank

800-981-7114 x 6250 www.easternsavingsbank.com

Ovation7

561-746-7858

www.ovation7.com/broker

571-340-5593

www.pacificbanc.com/ www.pnb.com

813-654-7515 x 223 epixfunding.com/

Pacific Banc Mortgage

Equifirst (FHA only)

856-979-9545

Pacific National Bank

305-539-7675

Federal Trust Mortgage

407-323-1833 x 153 www.federaltrust.com/brokers

Paramount Residential (FHA only)

866-966-8989 x 300 www.prmglending.net

Fifth Third

866-492-0072

Perfect FHA (FHA only)

800-201-2317

Phoenix Funding

877-562-6414 x 230 www.phoenix-funding.com 949-910-1055 x 450 www.plazahomemortgage.com

Epix Funding (Fannie/Freddie only)

www.equifirst.com www.53.com/wholesalemortgage

www.perfectfha.com

First Bank Mortgage

305-577-6000 x 116 www.firstbank.com

First Cal

818-793-6650

www.firstcalwholesale.net

Plaza Home Mortgage

First Federal Bank of CA

310-630-7792

www.firstfedwholesale.com

PMC Bancorp

626-964-4040 x 8199 www.pmcmtg.com

www.firsthorizonwholesale.com

Polaris Funding (FL, IN, MI, OH)

616-667-9000

800-692-3447 x 202 www.populardirect.com

First Horizon Home Loans

702-822-4102

www.polarishfc.com/

First Mutual Bank

971-645-9140

www.washingtonfederal.com/wholesale/

Popular Direct

First National Bank of Nassau

678-942-2160

www.fnbwholesale.com/

Poulsen Mortgage

First Northern Bank (Fannie/Freddie only) 707-423-9330

www.thatsmybank.com/

Preferred Capital (Fannie/Freddie only) 727-418-4189

www.prefercapital.com

Flagstar Bank

www.wholesale.flagstar.com

Premier Mortgage Capital, Inc.

786-243-3101 x 2

www.premierwholesale.com

877-773-7178

www.presidentsfirst.com/

678-308-0257

www.primarycapital.com www.protofund.com

800-897-7222

http://WeFundFHA.com

Florida Capital Bank Mtg

866-295-0014

www.flcb.com

Presidents First

Fort Knox Lending

323-330-1362

www.FortKnoxLending.Com

Primary Capital

Fortes Residential

866-571-8201

www.forteswholesale.com/

Proto Fund

813-436-6803

800-733-3657 x 1712 https://pfloans.provident.com/

Franklin American

606-519-4165

www.franklinamerican.com

Provident Funding

Franklin Bank

936-681-8181

www.franklinbank.com/

Reliant Funding

412-942-1010 x 18 www.reliantfunding.us

Freedom Mortgage

800-843-3753

www.freedomwholesale.com

Residential Lending Network

800-749-5363 x 5276 www.reslend.com

Gateway Funding

800-355-5626

https://wholesale.gateway-funding.com/

Gateway Mortgage Group

817-799-0804

www.jerrylair.com

GB Mortgage

602-791-8950

https://www.gbmortgagelending.com

Global Lending Group

727-530-0110

www.glgiwholesale.net

Greystone Financial

602-574-0100

www.greystonefinancialonline.com

GSF Funding

262-373-0790

https://www.gsfsales.com/

Guaranteed Rate

866-755-0989

www.griwholesale.com

Hollander Financial

661-476-4668

Home Savings of America

(Fannie/Freddie only)

Reunion Mortgage

559.476.0937

Royal Crown Bancorp

877-507-6925

www.reunionwholesale.com www.crownloan.com

Security Atlantic (FHA only)

800-956-3863

www.fhaland.com

Security Mortgage Funding

619-249-9166

www.smfcloans.com/brokers/

Security National Mortgage

619-857-2700

www.securitynational.com

Senderra Funding

704-831-3600

www.senderra.com

www.hollanderfinancial.com

Sierra Pacific

661-713-6564

www.spm1.com

972-235-7366

www.myhsoa.com

SouthPoint Financial (Fannie/Freddie only) 239-949-1406

www.spfs.com

HSBC

877-433-4722

https://webloan.us.hsbc.com

Stearns

925-628-0704

www.stearnswholesale.com

ICON Residential Capital

888-639-5641

www.iconwholesale.com

SunTrust Wholesale

913-982-2150

www.stmpartners.com

ING Mortgage

877-464-0555

www.ingloans.com/wholesale/index.html

SWC Financial Corp.

714-680-7050 x 113 www.swcfinancial.com

JMAC Lending

877-841-0776

www.jmaclending.com

Taylor, Bean & Whitaker

888-678-8547

Just Mortgage, Inc.

714-860-8867

www.justmtg.com

The Jumbo Lender

800-826-0360

www.TheJumboLender.com

Lenders Advantage

818-669-0974 x 0 www.lenderinc.com

The Money Store

818-326-2217

www.themoneystore.com

Liberty Lending Inc

800-808-5591

www.libertylendingwholesale.com

Titan Wholesale

775-852-6888 x 225 www.titan-wholesale.com

Liberty Mortgage

800-986-2499

www.bbt.com/libertymortgage

Trust One Mortgage

949-450-1888 x 2430 www.trustone.com

Liberty Savings Bank

941-735-7890

www.libertysavingsbank.com

U.S. Bank Consumer Finance

941-539-1603

www.usbank.com

Lime Financial

407-923-3700

limefinancial.com/index.shtml

United International Bank

313-903-2082

www.unitedinternational.us

M&T Bank Mortgage

804-380-7465

wholesalemortgage.mtb.com/

United Residential Lending

404-661-4632

www.urlending.com

Mango Bay Mortgage

561-347-9811

www.mangobayinc.com

United Wholesale Mortgage (FHA only) 800-981-8898 x 5590 www.usmwholesale.com

(Fannie/Freddie only)

925-570-0777

www.taylorbeandirect.com

Mega Capital Funding (Fannie/Freddie only) 818-657-2600

www.megacapitalfunding.net

Vertice

Merit Mortgage

310-650-0773

http://meritwholesale.com/

Village Capital and Investment (FHA only) 856-252-1825

https://www.verticelending.com/

MetLife Home Loans



www.wholesale.metlifehomeloans.com

Wall Street Wholesale Lending

856-446-2998

www.wallstreetwholesale.com

Mortgage Bank of California

714-423-3295

WCS Lending (FHA only)

561-241-5200

www.wcslending.com

Mortgage Close (Fannie/Freddie only)

714-453-0220

https://b2b.mortgageclose.com

Wells Fargo

310-283-8411

www.brokersfirst.com

MortgageIT

503-716-1206

https://wld.mortgageit.com/Default.aspx

hwww.villagewholesalelending.com

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

36

November 2008

NICHE REPORTS

NON PRIME & ALT–A Premium Listings

Capital Management

Chattel loans for manufactured homes in communities, purchase or refinance

480-575-1782

Direct Portfolio lender specializing in funding loans traditional lenders cannot. NOD or BK OK. No Credit Score. No Pre-payment Penalty. Up to 75% LTV. Loan amounts up to $1MM. Lending territory: AZ, CA, CO, ID, NV, OR & WA

Gregory Funding LLC 888-324-3578

Mid Island Mortgage Corp.

Low/No Score FHA manual underwrites. Tough FHA deals OK. No min. Score Jumbo loan amounts. Common sense underwriting w/good turn times.

703-754-9643 - Tim Dooley

NON PRIME & ALT-A Lender Listings Powered by TheLoanPost.com LuxMac, Covino, and Company

800-762-2274 x 312 http://luxmac.com

Preferred Capital

727-418-4189

www.prefercapital.com

Luxury Mortgage

203-569-4249

www.luxurymortgagewholesale.com/

Proto Fund

813-436-6803

www.protofund.com

Maitland Mortgage

407-629-5626

www.maitlandlending.com

Quik Fund Inc.

813-671-0712

www.quikfund.com

Mega Capital Funding Inc

818-657-2600

www.megacapitalfunding.net

Rehab Funding

610-645-9939 x 310 http://rehabfunding.com/

Merit Mortgage

310-650-0773

meritwholesale.com/

Right Start Mortgage

800-520-5626

www.rightstartmortgage.com

Metro Cities Wholesale

714-241-5882 x 122

www.metrocitieswholesale.com

Royal Crown Bancorp

877-507-6925

www.crownloan.com

MFC Mortgage, Inc

877-562-6754

www.gomfc.com

Security Mortgage Funding Corp

619-249-9166

www.smfcloans.com/brokers/

Mortgage Close

714-453-0220

b2b.mortgageclose.com

SouthTrust Funding

813-363-2768

http://southtrustfunding.com

MortgageIT

503-716-1206

wld.mortgageit.com/Default.aspx

SWC Financial Corp.

714-680-7050 x 113

www.swcfinancial.com

NetMore America

509-526-4007

www.netmoreamerica.com

The Jumbo Lender

800-826-0360

www.TheJumboLender.com

NorthStar Lending

954-843-7018 x 7018 www.mynorthstarlending.com/

Trust One Mortgage

949-450-1888 x 2430 www.trustone.com

Online Financial Group

703-307-7006

www.ofglending.com

United International Bank

313-903-2082

Pacific Banc Mortgage

571-340-5593

www.pacificbanc.com/

United Residential Lending

404-661-4632

www.urlending.com

Paramount Residential

866-966-8989 x 300 www.prmglending.net

US Bank

702-630-0770

www.usbank.com

Phoenix Funding

877-562-6414 x 230 www.phoenix-funding.com

US Equity Broker Direct

901-239-3339

www.usequitybroker.com

Plaza Home Mortgage

949-910-1055 x 450 www.plazahomemortgage.com

Vertice

925-570-0777

www.verticelending.com

Portfolio Mortgage Company

480-775-5150

West One Mortgage Corporation

818-921-7602

www.westonemortgagecorp.com

www.portmort.com

www.unitedinternational.us

REVERSE MORTGAGES Premium Listings

Reverse It! A division of Urban Financial Group, Inc

Reverse Mortgages, fastest turn times in the industry. Training and lead support available.

888-777-3311

World Alliance Financial

Reverse Mortgage opportunity for non-FHA licensed brokers

877-692-7762 x 404 Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

TheNicheReport.com

37

NICHE REPORTS

REVERSE MORTGAGES Lender Listings Powered by TheLoanPost.com American BancShares

305-817-2165

www.americanbancshares.com

Liberty Reverse Mortgage

866-871-1353

Arlington Capital Mortgage Corp

800-814-9432

www.acmcwholesale.com

MetLife Home Loans

www.wholesale.metlifehomeloans.com

http://libertyreversebroker.com

Circle Mortgage Corporation (Fl only)

800-576-1338

www.circlemortgage.com

NetMore America

509-526-4007

www.netmoreamerica.com

Continental Home Loans

631-393-3800 x 114 www.chlmortgagebankers.com

Pacific Banc Mortgage

571-340-5593

www.pacificbanc.com/

Countrywide Bank

866-212-4378

www.cwbc.com

Quality Life Reverse Mortgage

800-955-7919

http://qualityliferm.com/

Essex Mortgage

702-893-9200

www.essexwholesale.com

Quik Fund Inc.

813-671-0712

www.quikfund.com

Financial Freedom

800-500-5150

www.financialfreedom.com

Silvergate Bank (cml)

858-362-6300

www.silvergatebank.com

Financial Heritage

800-895-2209

www.financialheritage.com

SouthPoint Financial Services

239-949-1406

www.spfs.com

First Horizon

888-553-8929

www.firsthorizonwholesale.com

Sunwest

800-453-7884

www.swmc.com

Fortes Residential

866-571-8201

ww.forteswholesale.com/

Wells Fargo Reverse Mortgage

800-336-7359

http://www.wellsfargo.com

Generation Mortgage

866-733-6089

www.generationmortgage.com

World Alliance Financial Corp.

800-562-6755

www.worldalliancefinancial.com

GotMortgage.com

760-802-9630

www.gotmortgage.com

HARD MONEY Premium Listings

All California Home Loans 877 462 3422

Ambit Funding 800-823-7101

AFG LLC (Asset Funding Group)

Commercial and Residential hard money, California properties, max LTV 65% Short-term commercial bridge lenders; Most property types including RAW LAND; All 50 states, and Canada; Max LTV 70%, 50% on Land

Nation Wide Loans from $300 to $3 mil FAST-FAIR- FLEXIBLE

720-889-1175

AFG LLC (Asset Funding Group) 720-889-1175

Avatar Financial Group 888-896-0083

BRT Realty Trust 516-466-3100 or 800-450-5816

Continuum Funding Group 703-564-1659

Direct lender - up to 70% LTV: Bridge loans, purchase & rehab, construction financing, raw land, no minimum credit score requirments. Nationwide lending from $300k to $3 million, 24 hour commitment as fast as 5 days to close. HARD MONEY- MADE EASY Bridge loans for improved commercial real estate from $1 million, terms up to two years with no prepayment penalties. We are a direct lender and brokers are protected. Apply online at www.avatarfinancial.com or simply give us a call A Public Mortgage REIT Traded on the NYSE (NYSE: BRT) Fast response on loans from $2 million to $50 million on income producing commercial properties nationwide. No prepayment penalties, lock out or exit fees Specializing in hard money loans of $300,000 to $5,000,000 in DC, Virginia, and Maryland. We customize our lending program to fit your needs on a deal by deal basis

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

38

November 2008

NICHE REPORTS

HARD MONEY premium niches continued…

Fairview Commercial Lending 866-634-1270

No minimum credit score, foreclosure bailouts, Quick Closings nationwide, commitments in 24 hours

603-279-1133

Real Estate based private money lender. Commercial & Residential Investment. Refi cash out allowed. Retail,office,multi-family, raw land, development & modular construction are our specialties. Common sense underwriting. No upfront fees! Email or call today.

First Mount Vernon

No seasoning requirements, No upfront commitment or processing fees, Minimum credit score 400

Financial Resources Mortgage

(866) 908-FMV1 (3681)

First Mount Vernon

Minimal documentation required, Combined Loan-to-Values to 105%

(866) 908-FMV1 (3681)

Gregory Funding LLC 888-324-3578

LJL Funding 888-456-0246

Manaseh, Epharim & Associates

Direct Portfolio lender specializing in funding loans traditional lenders cannot. NOD or BK OK. No Credit Score. No Pre-payment Penalty. Up to 75% LTV. Loan amounts up to $1.0MM. Lending territory: AZ, CA, CO, ID, NV, OR & WA FC Bailouts - No FICO requirements. Focused strictly on the residential market. Tech oriented direct hard money lender. Consistent Guidelines Great Service! Private hard money financing for commercial real estate investments

770-840-0112

Metro Funding Corp 866-302-6360

Miner Capital Funding, LLC 702-466-8952

Remington Financial Group, Inc

Fast closing, no points upfront, all commercial properties including land, acquisitions, refis, and development loans

Specializing in collateral-based real estate loans nationwide. We get deals done!! As fast as 4 days! Loan amounts 1 million to 20 million

Up to 65% of valued collateral, fast closing

480-905-3239

Stonecrest Financial 888.884.6518

TrustCapital Investments LLC 301-503-2231

We are a direct lender specializing in churches, mixed-use, apartments & commercial lines of credit Local direct lender (DC, MD and VA) specializing in bridge, construction, rehab and business loans. Loans are based on “subject to value”, 50% LTV, minimal documentation, EQUITY DRIVEN not FICO sensitive. Brokers are protected.

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

TheNicheReport.com

39

NICHE REPORTS

HARD MONEY premium niches continued…

Direct lender specializing in HELOC 1st and 2nd position loans between 25k-250k

Unifund Financial Group Inc. 619-987-1083

All property types, any condition. Including construction, re-hab, land, development. LTV based underwriting. No prepayment penalties, discounted pricing for short term. Fast approvals and closings. Direct Lender in WA, OR, ID only

WADOT Capital, Inc. 206-362-4444

HARD MONEY Lender Listings Powered by TheLoanPost.com A The Loan Doctors, Inc

954-647-7679

www.regd506.com

Investor Funding

864-213-3951

Advantage Capital Equity Solutions

800-223-3019

www.adcapequity.com

J & J Financial

714-256-4416

www.10dayloan.com

AFC Hardmoney

813-387-3800 x 311 www.afchardmoney.com/

Kennedy Funding

201-342-8500

www.kennedyfunding.com

AgriCap Financial Corporation

213-542-5232

www.agricap.com

Lakeside Financial Inc.

949-297-4180

www.nofico.net

All California Home Loans

877-462-3422

www.aboutcaliforniahomeloans.

Lib Properties, LTD.

404-256-8600

www.libloans.com





com/hard-money.html

LNB Commercial Capital

321-214-0585

www.lnbcapital.com

Alliance Financial, Inc.

866-603-5999

www.afiloans.com

Mager Capital

310-760-6290

www.magercapital.brokerca.com

Ameribank Mortgage

516-833-8834

www.ameribanksolutions.com

Magnolia Financial Consultants

601-428-1005

www.hardmoneymortgages.com

American Acceptance (cml)

800-452-9287

www.aamcap.com

Mango Bay Mortgage

561-347-9811

www.mangobayinc.com

Assurity Financial

866-841-7863

www.assuritywholesale.com

Meridian Group

800-901-9301

www.meridiangroupinc.com

Avant Capital Partners, LLC. (cml)

212-219-9419

www.avcapital.net

MiStar Financial (cml)

720-200-2600

www.mistarfinancial.com

Axiom Commercial Funding

866-637-3014 x 10 www.acfsonline.com/

Multicorp Financial

925-275-8111 x 222 www.11multicorpfinancial.com/

Bay Equity

800-229-3703

www.bayeq.com

BFS Capital, LLC. (cml)

510-381-1930

www.bfscapital.com

Normandy Mortgage

760-220-4330

www.normandy.com/

BlueWater Funding, LLC

866-551-2583

www.bluewaterfundingllc.com

Overland Financial

818-342-2477

www.overlandfinancial.com/

Brookview Financial

877-734-2211 x 316 www.brookviewfinancial.com/

Pacific Mortgage Funding Corp. (cml)

562-864-4006

www.pacificmortgage.com

California Equity Lenders

818-584-2320

www.calequitylenders.com

PB Financial Group Corp.

310-289-0900

www.pbfinancialgrp.com

Capital Alliance

415-288-9575

www.calliance.com/index.php

Piedmont Capital Lending, LLC.

678-292-6984

www.piedmontcapitallending.com

CFA Capital Partners (cml)

914-967-5780

www.cfacap.com

Commercial Bridge Loan Funding

305-852-2569

www.cblfg.com

Commercial Hard Capital, LLC (cml)

832-607-6778

www.commercialhardcapital.com

Commercial Loan Capital (cml)

877-473-6984

www.clcloans.net

Commercial Mortgages 101

800-763-3036

www.commercialmortgages101.com

Crawford Park Financial

626-796-7979

www.crawfordparkfinancial.com

www.4investorfunding.com

Porter Bridge Loan Company (cml)

866-725-1777

www.porterbridgeloan.com

Portfolio Mortgage Company

480-775-5150

www.portmort.com

Quik Fund Inc.

813-671-0712

www.quikfund.com

Rehab Funding

610-645-9939 x 310 http://rehabfunding.com/

Remington Financial Group

480-905-3239

www.remingtonfg.com

Right Start Mortgage

800-520-5626

www.rightstartmortgage.com

SBB Financial

866-358-7238

www.sbbfinancial.com/

SDI Funding

864-233-3337 x 3220 www.sdifunding.com

Cushman Rexrode Capital Corporation (cml) 925-988-7200

www.cushrex.com

Diamond Bay Investments, Inc.

702-254-9303

www.diamondbayinvestments.com

Eastern Savings Bank (cml)

800-787-8187

www.easternsavingsbank.com

SmartServ Solutions

888-633-4778

714-680-7050 x 113 www.swcfinancial.com

www.bronxhardmoney.com

Emerald Financial

714-965-6688

www.eprivatemoney.com

SWC Financial Corp.

Exeter Holding Ltd.

516-338-7500

http://exeterholding.com/

Swift Funding

727-521-6633

http://swiftfundingcorp.com

212-371-3933

www.tcrmcommercial.com

www.fchardmoney.com

TCRM Commercial Corp. (cml)

First Mount Vernon Industrial Loan Assn. 703-823-6800

www.fmv1.com

The Loan Doctors, Inc. (cml)

954-647-7679

www.regd506.com

First Select Capital

540-908-2205

www.firstselectloans.com/

The Money Source, LLC. (cml)

480-946-4000

www.themoneysourcellc.com

Global Lending Group

727-530-0110

www.glgiwholesale.net

Titan Hard Money

323-377-0979

www.titanhardmoney.com

GMC Mortgage Capital

954-332-3567

www.gmcmortgagecapital.com

Trust Deed Investments, Inc

415-760-2338

www.hardmoney.ning.com

Grand National Investments

760-802-9630

www.300GNI.com

Unifund Financial Group, Inc.

619-573-0289

www.unifundinc.com

818-921-7602

www.westonemortgagecorp.com

First Credit Commercial Capital Corp. (cml) 407-843-6262

HARDDMONEYLOANS.COM

813-516-5210

www.HARDDMONEYLOANS.COM

West One Mortgage Corporation

Hawkins Capital

208-908-5596

www.hawkinscap.com/

WexTrust Capital, LLC

212-643-6190

www.wextrust.com

HMC Funding

800-273-7001 x 343 www.hmcfunding.com

WholesaleLending.com (cml)

866-303-6301

www.wholesalelending.com

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

40

November 2008

NICHE REPORTS

CONSTRUCTION/REHAB Premium Listings

Financial Resources Mortgage, Inc. 603-279-1133

Manaseh, Epharim & Associates 770-840-0112

Metro Funding Corp

Real Estate based private money lender. Commercial & Residential Investment. Refi-Cash Out allowed. Retail, office, multi-family, raw land, development & modular construction are our specialties. Common sense underwriting. No upfront fees! Email or call today. Private lender specializing in commercial real estate loans nationwide and internationally

Fast closing, no points upfront, all commercial properties including land, acquisitions, refis, and development loans

866-302-6360

Loan portfolio financing and warehouse lines of credit from $2MM $20MM for hard money lenders and investor rehab lenders. Reduce your local bank and private investor hassles with stable and consistent financing

RBA Capital 610.293.8008

Remington Financial Group, Inc 480.905.3239

Up to 95% financing construction, rehab, renovation, development, starting at $1 million and moving upwards, commercial only

CONSTRUCTION / REHAB Lender Listings Powered by TheLoanPost.com Ameribank Mortgage

516-833-8834

www.ameribanksolutions.com

Hawkins Capital

208-908-5596

www.hawkinscap.com/

Assurity Financial

866-841-7863

www.assuritywholesale.com

Kennedy Funding

201-342-8500

www.kennedyfunding.com

Axiom Commercial Funding

866-637-3014 x 10

www.acfsonline.com/

M&T Bank Mortgage

804-380-7465

wholesalemortgage.mtb.com/

Broker Capital Funding

408-438-6939

www.brokercap.com/

Mango Bay Mortgage

561-347-9811

www.mangobayinc.com

Chase Home Finance

813-601-2530

www.chaseb2b.com

Mission Oaks National Bank

805-889-0301

www.missionoaksbank.com

Colonial National Mortgage

800-825-1311

www.cnmbrokers.com

Portfolio Mortgage Company

480-775-5150

www.portmort.com

Everbank

415-595-3968

www.everbankwholesale.com

SWC Financial Corp.

714-680-7050 x 113

www.swcfinancial.com

Excelsion Mortgage

888-578-5441 x 1

www.ExcelsionBrokers.com

United Midwest Savings Bank

614-255-3534

www.umwsb.com

Federal Trust Mortgage

407-323-1833 x 153

www.federaltrust.com/brokers

Unity Bank

904-727-7535

www.unitybank.com

First Mutual Bank

971-645-9140

www.washingtonfederal.com/wholesale/

Vertice

925-570-0777

www.verticelending.com

First National Bank of Nassau

404-218-3335

www.fnbwholesale.com/

West One Mortgage Corporation

818-921-7602

www.westonemortgagecorp.com

First Northern Bank

707-423-9330

www.thatsmybank.com/

ADVERTISE YOUR NICHES HERE WITHIN Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

TheNicheReport.com

41

NICHE REPORTS

COMMERCIAL Premium Listings

AcuPen Financial

High LTVs, and low debt coverage ratio requirements

305-666-1879

Avatar Financial Group 888-896-0083

Colorado FSB Commercial Division 303-771-1031

Fairview Commercial Lending 866-634-1270

Financial Resources Mortgage, Inc. 603-279-1133

Gregory Funding LLC 888.324.3578

Light Funding Corp.

Great rates on commercial real estate loans, fully amortizing up to 25 years. Most property types considered including hotels, multi-family and special-use. Full doc is required for these competitive rates. Please call to request a rate sheet Bridge/Construction $2 million + and perm loans for 18 commercial property types nationwide from $250K+ No minimum credit score, foreclosure bailouts, Quick Closings nationwide, commitments in 24 hours Real Estate based private money lender. Commercial & Residential Investment. Refi-Cash Out allowed. Retail, office, multi-family, raw land, development & modular construction are our specialties. Common sense underwriting. No upfront fees! Email or call today. Direct Portfolio lender specializing in funding loans traditional lenders cannot. NOD or BK OK. No Credit Score. No Pre-payment Penalty. Up to 75% LTV. Loan amounts up to $1.0MM. Lending territory: AZ, CA, CO, ID, NV, OR & WA All types of commercial loans nationwide & international

877.300.1595

Manaseh, Epharim & Associates

Fast, flexible funding for all your commercial financing needs

770-840-0112

Metro Funding Corp 866-302-6360

Remington Financial Group, Inc 480.905.3239

Fast closing, no points upfront, all commercial properties including land, acquisitions, refis, and development loans Senior financing on existing real estate all property types, competive rates

ADVERTISE YOUR NICHES HERE WITHIN Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

42

November 2008

NICHE REPORTS

Commercial premium niches continued…

Direct lender specializing in first and second loans on income producing commercial properties

Tellus Capital 619-818-6248

Trilogy Commercial Lending 888-875-5055

Specializing in Full and Simple Doc small balance commerical loans up to $5 M. Our unique Commercial Automated Underwriting System allows for instant approvals, including pricing options. No upfront fees! Experience ease of execution – call today.

COMMERCIAL Lender Listings Powered by TheLoanPost.com 21st Mortgage

800-955-0021 x 1219 https://www.21stmortgage.com

Met-West Commercial

866-766-4000

Acupen Financial

503-516-5823

www.Acupenfinancial.com

Midwest Financial Capital

317-844-7776

www.met-west.com www.midwestfinancialcapital.com

Affinity Bank

877- 862-7245

www.affinitybank.com

Minvest Financial

877-317-0260

www.minvestfinancial.com

AgriCap Financial Corporation

213-542-5232

www.agricap.com

MiStar Financial

720-200-2600

www.mistarfinancial.com

American Acceptance

800-452-9287

www.aamcap.com

MJM Capital Group

480-628-1943

www.mjmcapitalgroup.com

Arlington Richfield

248-613-7423

www.arlingtonrichfield.com

Multicorp Financial

925-275-8111 x 222 www.11multicorpfinancial.com/

Avant Capital Partners, LLC.

212-219-9419

www.avcapital.net

National Business Finance

954-495-4791

Axiom Commercial Funding

866-637-3014 x 10 www.acfsonline.com/

Nationwide Commercial Lenders

800-830-5940 x 1 www.NationwideCommercialLenders.com

Berkshire Capital Financial, Ltd.

212-986-9890

www.berkshirecapital.net

New World Commercial Lender

561-628-2069

Blue Sky Commercial Funding

888-500-2583

www.bscfloans.com/

Ovation7

561-746-7858

www.ovation7.com/broker

Brownstone Mortgage Capital

800-547-1285

www.brownstoneloans.com

Overland Financial

818-342-2477

www.overlandfinancial.com/

Capital Alliance

415-288-9575

www.calliance.com/index.php

Pacific Mortgage Funding Corporation 562-864-4006

www.pacificmortgage.com

CapitalSource Finance

212-321-7215

www.capitalsource.com/

Pacific National Bank

305-539-7675

www.pnb.com

CFA Capital Partners

914-967-5780

www.cfacap.com

PFA Capital, LLC.

800-531-4589

www.picconefinancial.com

Ciena Capital

800-722-5626

www.cienacapital.com

Phoenix Funding

877-562-6414

www.phoenix-funding.com

CIT Small Business Lending Corp.

404-244-4592

www.smallbizlending.com

PNC ARCS

800-275-2727

www.askARCS.com

Coast Investors Capital

305-446-9125

www.coastinvestors.com

Presidential Bank

301-652-1616

www.presidential.com

Commercial Bridge Loan Funding

305-852-2569

www.cblfg.com

Pribank

866-811-9217

www.pribank.com

Commercial Funding Corp

904-885-9977

www.commercialfundingcorp.com/

Provident

800-733-3657 x 1712 https://pfloans.provident.com/

Commercial Hard Capital, LLC

832-607-6778

www.commercialhardcapital.com

Prudential Mortgage Capital Co.

888-263-6800

www.prumortgagecapital.com

Commercial Lending Capital

714-656-3943

www.clcnationwide.com

Quik Fund Inc.

813-671-0712

www.quikfund.com

Commercial Loan Capital

877-473-6984

www.clcloans.net

Reliant Funding

412-942-1010 x 18 www.reliantfunding.us

Commercial Mortgage City

954-854-6853

www.commercialmortgagecity.com

REM Capital

877-774-4240

www.remcapitalgroup.com

Commercial Mortgages 101

800-763-3036

www.commercialmortgages101.com

SF Partners Mortgage

305-774-0456

sfmortgagelenders.com/

Community Commerce Bank

916-648-2680

www.ccombank.com

Silver Hill Financial

877-813-4685

www.silverhillfinancial.com

Cushman Rexrode Capital Corporation 925-988-7200

www.cushrex.com

Small Business Loan Source, LLC.

512-215-2727

www.adelinerem.com

Eastern Savings Bank

800-787-8187

www.easternsavingsbank.com

St. Cloud Mortgage

877- 653-3276

www.farmerloan.com

Equity One Commercial

407-370-7843

www.equity1commercial.com

STA Capital Group & Advisors

866-610-4141

www.c-loandivision.com

Excelsion Mortgage

888-578-5441

www.excelsionbrokers.com

Strongtower Financial

800-333-9893

www.strongtowerfinancial.com

First California Bank

818-670-7688

www.fcbank.com

SWC Financial Corp.

714-680-7050 x113 www.swcfinancial.com

Griffin Capital Funding

800-710-6762

www.ysploans.com

TCRM Commercial Corp.

212-371-3933

www.tcrmcommercial.com

Hawkins Capital

208-908-5596

www.hawkinscap.com/

Terrace Capital

212-671-1031

www.terracecapital.com

HMC Funding

800-273-7001 x 327 www.hmcfunding.com

The Money Source, LLC.

480-946-4000

www.themoneysourcellc.com

Integrity Financial Group

916-343-7559

www.ifgloans.com

Trilogy Commercial Lending, LLC.

877-726-9433

www.trilogycl.com

Interbay Funding, LLC

877-207-6099

www.interbay.com

Union Bank of California

877-945-2265

www.uboc.com

Kennedy Funding

201-342-8500

www.kennedyfunding.com

Wachovia Bank

916-787-9401

[email protected]

Lib Properties, LTD.

404-256-8600

www.libloans.com

Washington Mutual

916-825-5432

[email protected]

Lighthouse Commercial

614-340-3894

www.Lighthouse-Commercial.com

Wells Fargo

800-840-5822

www.wellsfargo.com

LNB Commercial Capital

321-214-0585

www.lnbcapital.com

West One Mortgage Corporation

818-921-7602

www.westonemortgagecorp.com

Magnolia Financial Consultants

601-428-1005

www.hardmoneymortgages.com

WholesaleLending.com

866-303-6301

www.wholesalelending.com

Mango Bay Mortgage

561-347-9811

www.mangobayinc.com

World Capital Bancorp, Inc.

888-922-3003

www.worldcapitalbanc.com

www.nationalbusinessfinance.com www.nwclender.com

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

TheNicheReport.com

43

Tellus Capital is a direct private money lending company specializing in commercial properties. Loan amounts from 200K to 5MM. • Lending Territory includes CA, AZ, WA, NV, OR, AZ and UT. • No Minimum FICO • No Seasoning • 24hr turning time on approvals. • 7 day funding time with completed loan package. Please email a summary request to [email protected] or check out our website at www.tellus-capital.com. 4431 S. Eastern Avenue #2, Las Vegas, NV 89119 • tel 702-795-2888 • fax 702-795-2181

LENDER & RESOURCE DIRECTORY

AcuPen Financial, LLC The Premier One-Stop Commercial Mortgage HUB www.acupenfinancial.com

a la mode, inc. www.alamode.com

Ambit Funding www.ambitfunding.com Contact: Chris Bednar Phone: (570)-829-2101 (800)-823-7101 Email: [email protected]

America One Finance www.americaonefinance.net Contact: Matt Simmons Phone: 425.641.4658 x117 Email: [email protected]

Asset Funding Group www.assetfundinggroup.com Contact: Loan Submission Phone: 866-398-8916 Email: [email protected]

Avatar Financial Group www.avatarfinancial.com Contact: Allison Payne, Loan Analyst Phone: 888.896.0083 Email: [email protected]

Best Rate Referrals www.bestratereferrals.com Phone: 800-811-1402

BRT Realty Trust www.brtrealty.com Contact: Mitch Gould Phone: 516.773.2712 Email: [email protected] Capital Management www.CapitalManagementAZ.com Contact: Louis Lantz Phone: 480.575.1782 Email: [email protected]

CityLights Financial Express, Inc www.citylightsfinancial.com 800-530-2489 ext 301 [email protected]

Continuum Funding Group www.continuumfunding.com Contact: Evan Kaplan Phone: 703-564-1659 Email: [email protected]

Credit Plus Inc. www.creditplus.com Phone: 800.258.3488 Fax: 800.258.3287 Email: [email protected] Direct Marketing Associates www.DMALeads.com Phone: 888.312.9594 Email: [email protected]

DocMagic www.docmagic.com Phone: 800.649.1362

Fairview Commercial Lending www.FairviewLending.com Phone: 866-634-1270 Fax: 404-634-0319

Financial Resources Mortgage, Inc. www.commercialloanresources.com Contact: David Dexter Phone: 603-279-1133 X 317 Email: [email protected]

First Mount Vernon I.L.A. www.FMV1.com Phone: 703-823-6800 Fax: 703-997-2499

www.GreenLeafLegals.com Phone: 888.326.3303 Ext 217 Contact: Simon Yarandi Email: Simon.Yarandi@GreenLeadLegals. com

Gregory Funding LLC www.gregoryfunding.com Phone: 888.324.3578 Fax: 503.226.4699 Email: [email protected]

TheNicheReport.com

45

LENDER & RESOURCE DIRECTORY

HCI Mortgage www.203kwholesale.com (877) 724-1720 Fax: (866) 201-172 LJL Funding www.LJLFunding.com Contact: Phil Jemmett Phone: 888-456-0246 Email: [email protected]

LoanAce www.loanace.com [email protected]

Light Funding Corp www.lightfunding.net Contact: Maria Gorrita Phone: 877.300.1595 Email: [email protected]

Madison Credit Management Services LLC www.madisoncredit.com Contact: Roger Castile Phone: 856-866-9878 x4320 Email: [email protected] Manaseh, Epharim & Associates www.meandassociates.com Contact: R.D. Walker Email: [email protected] Phone: 678-387-3230

Metro Funding Corp www.metrofundingcorp.com Contact: Jennifer Smith Email: [email protected] Phone: 866-302-6360

46

November 2008

Nationwide Home Relief Phone: 877.368.7266 Miner Capital Funding, LLC [email protected] www.Minercapitalfunding.com Phone: 702-466-8952 Fax: 314-667-3092

Precision Loan Processing www.PrecisionLoanPro.com Phone: 703.743.9739 Email: [email protected]

RBA Capital www.RBACapital.com Dan Murphy 610.293.8008 x205 [email protected]

Remington Financial Group, Inc www.remingtonfg.com Contact: Aaron Enright Phone: 480.905.3239 Email: [email protected]

Tellus Capital www.tellus-capital.com Contact: Daniel Singer Phone: 619.818.6248 Email: [email protected]

Trilogy Commercial Lending www.TrilogyCL.com Phone: 888-875-5055 Fax: 407-523-6946 Email: [email protected]

TrustCapital Investments LLC Craig Severson 301-503-2231 [email protected]

Unifund Financial Group Inc. www.unifundinc.com Contact: Tyson Hempel Phone: 619-987-1083 Email: [email protected] Urban Financial Group, Inc. www.reverseit.com Contact: Matt Klaus Phone: 888.777.3311 Email: [email protected]

www.settlementbiz.com 877 392 4940

Stonecrest Financial Contact: Bill Phone: 888.884.6518 Email: [email protected]

WADOT Capital, Inc. www.wadotcapital.com Erik Egger or Craig Halpin Phone: 206.362.4444 Email: [email protected] OR ch@ wadotcapital.com

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"TheNicheReport is nationally distributed to 20,000 real estate finance professionals."

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