Direct access to commercial mortgage lenders, without having to sign
up.
Some of the top commercial mortgage banks and lenders in the country are on the BrokerPro automated underwriting and loan placement platform for one purpose: to receive qualified dealflow from BrokerPro users. Every commercial bank in the country has internal originators like these -- wholesale reps -- who spend the majority of their time looking to develop relationships with mortgage brokers and loan officers that know how to originate commercial mortgage loans. BrokerPro levels the playing field by requiring the broker to complete all required fields in the software prior to submitting, so the lender only sees deals that meet their underwriting guidelines. Each lender here receives on average, $200,000,000 or more in annual commercial loan volume.
Synchronizing with the Lenders. When you input your commercial mortgage loan into BrokerPro, you can instantly view the underwriting results as well as the list of matched lenders. With one click of a button, you can upload your complete loan file to each lender you choose from the list of matched lenders, and follow up with a phone call since he lenders' contact information is provided. Matches are based on property type, LTV, DSCR, occupancy, location, loan amount, term, amortization, and requested loan type (permanent, refinance, construction, bridge, etc.). And since this is a real-time connection, underwriting guidelines are updated automatically.
Receiving Loan Commitments from Lenders. You will be notified via email when a loan commitment is ready to download. Loan commitments include the proposed interest rate, terms, conditions, and closing costs. Most of the participating lenders do not require brokers to sign up or fill out broker packages. Only a few lenders require broker approval prior to loan funding. Your fee is protected in the closing documents.
Call 1-888-737-7012 for a list of LendingApps Approved Lenders.
