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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.

Hard Money

Lending A Hand

These are tough times when it comes to getting mortgage financing and, as this Special Report shows, there are mixed opinions about whether the "hard money" business - which by definition specializes in lending a hand to borrowers who find themselves in a hole due to a lack of financing options - has benefited as a result.

As you can read in the pages that follow, one consultant says that hard money lending has benefited in terms of being as alternative to the "subprime" product that no longer exists.

However, other executives in the niche point out that, given the hard money business' collateral-based nature, the same concerns about declining real estate prices and lack of equity that are causing other lenders to tighten their underwriting standards are, if anything, even more of a concern for their business. That being said, other hard-money lenders say they are still out there, offering help where they see value in some otherwise difficult-to-finance situations. Kennedy Funding president and co-CEO Jeffrey Wolfer, for example, said his company "takes a strong look at every aspect of what borrowers have to offer."

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