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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 Loans
Eyeing Small Balances
Many small business owners, owners of small multifamily properties and others
have traditionally found themselves shut out of the same funding sources the much bigger commercial property owners
use.
So a niche has been created in the commercial mortgage business to help these
people out, called small-balance commercial lending.
Experts in this business say it is not hard to find potential customers. The first
place to look is your own database. On the 1003 used to purchase a home, there is a listing of assets the borrower
has, including other properties.
In an article that appeared in our sister publication Broker, Tom Brubaker, vice president of marketing for InterBay
Funding, gave some more marketing tips, starting with simple networking. "Spread the word that you now originate
commercial loans everywhere you go - at Chamber of Commerce meetings, at small business association gatherings,
even at the gym or club," he said. "Drop in on businesses throughout your local commercial district.
Even the small businesses you patronize every day, from the deli to the dry cleaner, are prospects."
In this Special Report, read about some of the further niches these lenders might
have, including health care, the HUD 232 FHA/MAP program and the U.S. Small Business Administration 504 program.
Also read about the GSEs and multifamily products.
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