|
Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Commercial Lending
Commercial Lending: Is the Grass Greener?
As residential mortgage originations dry up because of tighter underwriting requirements,
more and more mortgage brokers are looking across the street to commercial loan originations to help fill the void.
Moving from residential to commercial is not a new topic for the broker industry.
Every time there has been a potential life-changing event in the industry, more and more brokers at least examine
the possibility of doing commercial loans.
Other events that have influenced mortgage brokers towards this direction include
passage of high-cost mortgage laws and talk of Real Estate Settlement Procedures Act reform. But most never get
beyond the looking stage.
In this Special Report, we look at a mentoring program offered by one commercial
mortgage lender. One of the things that hold back many residential brokers from entering this part of the business
is the different forms, requirements and terminology used.
At the other end of the scale is Silver Hill Financial. It designed its processes
to mimic the residential origination process, including the use of Fannie Mae Form 1003, the standard application
form.
It is seeing an increase in mortgage broker interest in its product. A seminar
it recently held in a Texas town on the Mexican border attracted a large number of attendees.
A key part of the job of being a mortgage broker is to advise clients, and Jeffrey
Davis, the head of a senior housing/health care properties lender, offers advise on how to do just that.
|
