INFORMATION
FOR BROKERS
But
with banks handling such high volumes of "A"
paper loans right now, many don't have time to talk
q to you about your tough files. Many simply won't deal
with the NOD borrower.
MBR
has direct access to private lenders with funds to invest.
We can help expand the flexibility of your loan programs
to meet the needs of your harder-to-fund, higher-risk
clients - and increase commissions for you.
We are one of a small number of "threshold"
private lenders specializing in equity-based multi-lender
beneficiary loans in the State of California. Unlike
banks, we do not have a number of programs to understand
and "match" to your clients. With us, an application,
an appraisal, and preliminary is all we need to get
started. If the drive-by appraisal comes in, we'll fund
the loan. No up-front fees for you or the borrower.
No time wasted "shopping around" your loans.
It's that simple.
With over 30 years' experience structuring and advising
on financial planning and real estate brokerage solutions,
licensed broker Ty Ebright takes a personal approach
to identifying the right solution for your clients.
You
and your clients can count on:
Flexible
loan sizes - we'll fund a loan as low as $100k
Fast funding - 48-hour approval
No fees up front - to brokers or borrowers
The first mortgage stays in place - if your first has
a low interest rate, we will not replace it
Mortgages are never sold
High risk is not a barrier
Once approved, we will follow-through
What
you need for a loan file
- No income statement or tax returns required
- 1003 - Completed loan application, credit authorization,
ECOA, Fair Lending - all signed by borrower(s)
- Preliminary report from the title company
- Appraisal on property
- Copy of promissory note on senior liens (1st and/or
2nd)
- Copy of most current statement from senior liens
-your current payment, current interest rate, and
current principal balance. This is very important!
- Copy of NOD - if in foreclosure. Publication can
be any time 90 days after recording of NOD; sale date
will be about 20 days after publication date
- BK Trustee - if in BK
Note:
Lender on Promissory Note may be different from lender
on current loan statement because the note has been
purchased. This may or may not be noted in the prelim.
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