TNR - July 2008 by The Niche Report

Issue 013 July 2008 TheNicheReport.com

Employer Housing Solutions Achieving the "American Dream".

"Hidden Home Stage 21 Utilize 24 New 27 Center Assets" Valuation Code with Remington Mortgage broker professionals make use of alternative finance options.

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CONTENTS

Issue 013

July 2008

Financing Condo Hotels & Condo Resort Residences Understanding this niche market. CRAIG M. FLAHERTY Author and a National Mortgage Consultant

NICHE REPORTS PRIME

pg 34

ALTâ&#x20AC;&#x201C;A

pg 35

NONPRIME

pg 35

HARD MONEY

pg 37

COMMERCIAL

pg 39

CONSTRUCTION/REHAB pg 41 DOWN PAYMENT ASSIST. pg 42 REVERSE MORTGAGES

Employer Housing Solutions

patrick m. butler president / ceo of Cirrus employer housing solutions. Achieving the "American Dream".

Utilize "Hidden Assets"

the niche report Providing opportunities for underserved markets.

kevin duffy vice president of sales for Advanceme, inc. Mortgage broker professionals make use of alternative finance options.

Tip of the Month STEWART MEDNICK seasoned mortgage banker and published author Marketing Zaio Style.

DEPARTMENTS New Home Valuation Code of Conduct george h. marentis, j.d. President / ceo of compliance made simple, llc Who will pay the price?

09 10 44

Center Stage with Remington Financial Group

July 2008

NOTE FROM THE FOUNDER CALENDAR OF EVENTS LENDER & RESOURCE DIRECTORY

pg 42

FOUNDER & PRESIDENT Robert Pegg robert@nichereportonline.com CO-FOUNDER & PRESIDENT David Pegg david@nichereportonline.com EDITORIAL / CONTENT MANAGER Kristen Moser kristen@nichereportonline.com ACCOUNTING MANAGER Shawna Ingram shawna@nichereportonline.com SALES MANAGER Lorena Leggett lorena@ml-implode.com DESIGN Plumbline Studios, Inc. Eric Ball ADVISORY BOARD Aaron Krowne President and CEO, IEHI, Inc. COLUMNISTS George H. Marentis, J.D. Stewart Mednick CONTRIBUTING AUTHORS Patrick Butler Kevin Duffy Craig Flaherty

Published monthly by BODA Publishing, LLC 6016 Alderdale Place, Haymarket, VA 20169 Phone: 540.657.2632 Fax: 703.991.2362 Email: info@nichereportonline.com www.TheNicheReport.com

SUBSCRIPTIONS This publication is intended for real estate finance professionals. If you are a mortgage broker, lender, loan officer and you do not currently receive The Niche Report, please send your name, company name, and address to subscriptions@nichereportonline.com. To opt-out of receiving The Niche Report, please send your request, including name, company name, and address to opt-out@nichereportonline.com.

ADVERTISEMENTS To inquire about advertising in The Niche Report, please call 540.657.2632, or send an email to ads@nichereportonline.com. Visit our website, www.TheNicheReport.com to download a copy of our Media Kit.

EDITORIALS / ARTICLES To submit an article for consideration in The Niche Report, please send an email to kristen@nichereportonline.com or call 540.657.2632. We are interested in original writings relevant to mortgage brokers and other real estate finance professionals. If you have a comment or question about an article or editorial published in The Niche Report, or if you have a suggestion for a topic you would like to see featured in a future issue, please send an email to kristen@nichereportonline.com.

THE NICHE REPORT POLICY The information and opinions expressed by contributing authors and advertisers within The Niche Report do not necessarily reflect those of BODA Publishing, LLC employees and should not be considered as endorsed or recommended by BODA Publishing, LLC.

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NOTE FROM THE FOUNDER

This issue marks a momentous occasion for The Niche Report. One year ago this month, The Niche Report circulated for the first time to just over 10,000 mortgage brokers and other real estate finance professionals. When you consider that statistically only 1 out of 10 new magazines exist past their first year in business, we are very proud that The Niche Report has not only survived but grown in size and circulation even in this down economy. We now circulate to over 20,000 with a reach double that size. We made key alliances with business partners which helped us provide you with even more niche lenders and lender programs. As you read through to the Niche Reports, you’ll notice we added another niche category this month – Reverse Mortgages. We’ve seen amazing growth in this lending category – both in the information available about it in the marketplace and the number of lenders offering this product. As a result, more and more mortgage professionals are engaging in this business and they need to know who to contact. This month we have a list of seven lenders and we anticipate the list will grow monthly. Our feature article this month focuses on building your success in niche marketing, specifically financing condotels. The Niche Report has received several requests from readers to provide an article on this topic because the lending options out there for this property type seem almost non-existent. So we tracked down the subject matter expert, Craig Flaherty. Another key topic this month is the upcoming Home Valuation Code of Conduct proposal by Fannie Mae and Freddie Mac due to go into effect on January 1, 2009. This proposal, as described by TNR Compliance Columnist George Marentis, will have a major impact on our business and in George’s opinion will ultimately have the deepest impact on borrowers’ pockets. Finally, I want to extend a huge thanks to our readers, advertisers, and alliance partners for supporting us through this first year. We look forward to providing you with even more pertinent and educational content as well as building upon the tools already in place to help you locate lender niches for your clients. Many new developments are on the horizon – this is only the beginning.

Robert Pegg Founder & Publisher

TheNicheReport.com

CALENDAR OF EVENTS

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JULY 16

AUGUST 22 – 25

MAMB’s Annual Summer Social, Rockville, MD. Visit www.mamb.org for details.

NAMB/Southeast Second Annual Regional Conference, New Orleans, LA. Visit www. namb.org for details.

JULY 24

AUGUST 25

June Existing Home Sales released by the NAR.

July Existing-Home sales released by the NAR.

AUGUST 6

SEPTEMBER 9

CAMB Annual Convention & Grand Exposition, Sacramento, CA. Visit www.cambweb.org for details.

Housing Forecast / Pending Home Sales Index released by the NAR.

SEPTEMBER 11–12 AUGUST 7 CAMB Annual Convention & Grand Exposition, Sacramento, CA. Visit www.cambweb.org for details.

MBA’s Quality Assurance Conference at La Costa Resort and Spa in Carlsbad, CA. Visit www.mbaa.org for details.

Housing Forecast/Pending Home Sales Index releases by the NAR.

SEPTEMBER 14–16

AUGUST 8

MBA’s Regulatory Conference at JW Marriott Hotel in Washington, DC. Visit www.mbaa.org for details.

CAMB Annual Convention & Grand Exposition, Sacramento, CA. Visit www.cambweb.org for details.

AUGUST 9 JULY 8 Housing Forecast/Pending Home Sales Index releases by the NAR.

JULY 10 NJAMB’s 10th Annual “Let’s Make a Deal” Tri-State Wholesale Lending Fair in Atlantic City, NJ. Visit www.mjamb.org for details.

CAMB Annual Convention & Grand Exposition, Sacramento, CA. Visit www.cambweb.org for details.

July 2008

Commercial Real Estate Market Forecast released by the NAR.

SEPTEMBER 24 August Existing-Home Sales released by the NAR.

AUGUST 14 Qtr. Metro Home Prices/State Resales released by the NAR.

AUGUST 20 Commercial Leading Indicator released by the NAR.

SEPTEMBER 17

SEPTEMBER 25–26 WAMB 2008 Northwest Wholesale Lenders Conference & Expo at the Maydenbauer Center, Bellevue, WA. Visit www.wamb.org for details.

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EMPLOYER HOUSING SOLUTIONS Achieving the "American Dream". BY PATRICK M. BUTLER

t hasn’t been that long since the words “one-stop-shopping” and “affinity marketing” made their way into the vernacular of the home ownership industry. This was particularly evident with industry giants like Cendant Mobility. The bundling of real estate, mortgage and title services became more of the rule rather than the exception in many sectors of the market as we moved into the twenty-first century. Interestingly, most companies that adopted this model did so in an attempt to bolster up revenues rather than to create a true benefit to the consumer. Often times there were savings passed on to consumers for using all or a combination of these services particularly when offered through an employer or membership group. Evidence has shown that the mere offering of discounted commissions or reduced fees alone is not enough to capture a greater share of the market. The perfect storm of events that led to the “real estate bubble” and subsequent burst has left a rather significant housing crisis in its wake affecting virtually every aspect of our industry in unprecedented ways. Aside from the obvious devastation that has occurred within the mortgage industry, consumers have been faced with a new set of challenges creating an opportunity of a lifetime for each and every one of us. In order to identify this opportunity, we need to define the challenge. It can best be described as a three-tiered crisis. These tiers include entry level home ownership, housing sustainability and achieving financial

independence. Each of these has its own unique characteristics requiring specific skill sets, products and service to provide a viable solution for the consumer. We all need to invest some woodshed time in learning new approaches to our business as well as dusting off some tried and true products utilized in similarly trying times. These solutions would fill volumes so suffice it to say that we cannot delve into them in the scope of this article, but we can discuss the model for deployment. Employers across the country are dealing with their own set of challenges relative to the housing crisis. Recruiting and retention of key employees in many US cities are placing incredible burdens on human resources and benefits managers as well as impacting employers’ bottom lines. Studies show that this is largely due to the three tiered crisis we have just described. Never before has there been a greater opportunity for home ownership service providers to partner with employers, credit unions and other membership groups to create a much needed new and improved employee benefit. A “total housing and financial solutions” benefit program starts with a solid mortgage financing system coupled with multiple disciplines within the industry. Credit counseling, accessing grants and subsidies, understanding how to bridge the affordability gap, providing refinancing solutions for those facing foreclosure and teaching home owners how to maximize the value of their home equity are just the tip of the iceberg. A total team approach is crucial to the successful deployment of this cutting edge business development model. TheNicheReport.com

A key benefit of working with employer and membership groups is the social dynamic that exists within these organizations. A truly robust program may also include financial planners, life insurance agents, tax attorneys, and a host of other ancillary service providers to fulfill the needs of these employees from the newly hired receptionist all the way up to the CEO. Interacting with entry level employees, line managers and senior management will pay huge dividends for the dedicated professional. Business can be generated via seminars, open enrollment and a variety of other methods for those willing to make the effort. Make no mistake; this is not simply a new name for an old marketing approach. Providing a total housing and financial solution requires a great deal of professional education and back office support mechanisms. If you would like to learn more about creating a total housing and financial solution program and donâ&#x20AC;&#x2122;t want to learn by trial and error, consider hiring a consultant or better yet, enroll in a training/coaching program specifically dedicated to this cause. Patrick Butler is a 21 year veteran of the real estate and mortgage industries specializing in Employer Housing Solutions. He is actively involved in developing affordable workforce housing and is a trainer and coach for mortgage, real estate and financial planning professionals looking to enter this niche in the market. For more information on this subject you may contact Patrick Butler, President/ CEO of Cirrus Employer Housing solutions at pbutler@cirrushousingsolutions.com or 561-866-7155.

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g n i c n Fina Condo & s l e t o H o d n o C t r o s e R s e c n e Resid is h t g n i d n a t Unders et. k r a m e h c i n BY CRAIG M

. FLAHERT

usiness arned in b le r e v e I g in owerful. he first th rketing is p a m e h ic N was this: to go in e only way th ’s it t, c rtgage In fa ng the mo ri te n e re count n. Befo ducing Ac ro p my opinio p to a s worked a any. I also industry, I 500 comp e n u rt o F siness for a the top bu f o Executive e n o m .B.A. fro xperience h a ve a n M m all my e ro F . d rl o the w as always schools in ne thing h o s, ie d u st iche” and and all my : Ge t a “ N ss e n si u b t the abou started in t rung true rs fi I n e ere. Wh go from th

mortgage business, I didn’t have a clue what I was doing and just like everyone else, I started doing single family home purchases and refinances. After about a year and a half, I wanted to pull my hair out…what was left of it anyway. I kept coming up against way too much competition for each and every lead and each and every referral source. Don’t get me wrong, a little competition is good for the soul, but competition isn’t exactly like chicken soup. All of the wasted time spent chasing after business with little return would drive me nuts. I remember going into realty offices to create relationships, and thus get referrals. On occasion, the realtor would actually laugh because I was the tenth mortgage professional who visited their office that day trying to get those same exact referrals. You need to find a specific target market. Niche marketing in the current mortgage environment is an absolute must. As a general rule of thumb, the worse a market gets, the more niche marketing becomes necessary. Imagine you are fishing at a lake that is full of fish. And the fish are biting all over the place. In this situation, it’s not very important to have a niche in your fishing style. Simply throw your line in the water and before long you will have fresh food to eat. Something will bite sooner or later so you don’t need to worry about being discriminate. But when the fish population is moderate and they are generally afraid to bite, you need a niche or you’re going to starve. You better find the right bait; throw your line in the right place; and go after the fish that can provide the most food. In the mortgage lake we find ourselves in today, we must find the right way to “niche fish” or we won’t survive. You can’t simply go into the marketplace and say you do mortgages. That kind of bait is simply not attractive and the hook you are working with is inadequate at best. If you enjoy that type of fishing you are setting yourself up to be the main character in a Herman Melville novel. Who wants to be called Captain Ahab anyway?

in my family. But not about the virtues of condo hotel financing! In fact, I don’t think there is a better time than now for mortgage professionals to start learning about condo hotel financing and make this one of their niches. When searching for a niche in any marketplace, look for two things: the niche with the least competition and the fastest growing market place. Condo hotels and resort residences offer that exact type of opportunity. I know about the lack of lending sources and all the peripheral problems associated with condo hotels and the mortgage market in general. But when you have a market that has almost no competition and a growing marketplace, you simply can’t ignore it. That has to be one of your niches. Let’s take them one by one, we will start with the competition and then talk about the marketplace. As for the competition, I would venture a guess and say that there is no state in the country that has more than five condo hotel/condominium resort “mortgage experts”. And most of them are not very good. That is what I call a “no competition” market. So, what about the marketplace (supply)? The condo hotel market is growing faster than any other property type in the world. Industry experts estimate that as much as ten percent of all hotel rooms being built right now are condo hotel! Condo hotels are EVERY WHERE, and they are being built with a vengeance, despite the current housing and mortgage problems. A new development just got underway in Iowa…yes, I said Iowa. What makes this niche so exciting is that the growth rate of condo hotels over the past five years has far exceeded the growth rate of mortgage professionals that finance them! And this trend shows no signs of slowing. That is the key to a good niche and that is exactly the type of niche a mortgage professional should want to be in; one where demand is outstretching supply. Look at the chart below: It’s a bit over-simplified but it makes its point.

So, of all the niches in the world, why choose condo hotels and resort condominiums? “Of all the gin joints, in all the towns, in all the world, she walks into mine.” – Humphrey Bogart, Casablanca, 1942 With all the news these days about condo hotels, you might be asking yourself, “Is this guy crazy? He wants me to finance condo hotels?” Well I probably am crazy, it runs TheNicheReport.com

Another reason to be excited about today’s market is the overwhelming growth of refinance opportunities that have resulted from the general condo hotel boom over the past five to seven years. The average condo hotel owner in the United States has owned their property for less than five years and the ARMs are resetting like wild fire. In addition, the vast majority of folks who currently own condotels will be looking for new lenders and brokers to assist them with their refis. Why? Because they probably didn’t get very good service the first time around. The lack of condo hotel expertise in the mortgage industry has translated into an enormous pool of upset mortgage customers. This unfortunately is not good for the condo hotel trend as a whole, but it is something that is good for you and you need to exploit it. There are of course no hard statistics on this, but I would venture this guess: If you polled all mortgage customers over the past five years about customer satisfaction, and then compared it to just those that got condo hotel loans, there would be a very wide discrepancy in their levels of satisfaction. Current condo hotel owners are not very happy about their mortgage service. What does all this boil down to? Current owners looking for refinancing are looking for new mortgage professionals to help them. Realtors and developers are looking for new sources. And current sellers are not likely to recommend their previous mortgage professional to prospective buyers. That bodes well for you. Remember, you always need to look at the niche with the least competition and the fastest growing marketplace; that’s your niche. And the condo hotel financing market has it. Let’s talk quickly about one more thing that makes condo hotel/condominium resort financing so lucrative.

Condo Hotel and Resort Residence Buyers The average condo hotel buyer is wealthy. They have disposable cash and they buy multiple second home properties. Many of them are attorneys, doctors, engineers, entrepreneurs, and retired folks with money in the bank. Several months ago I did a rough analysis of my total condo hotel originations over the past five years and I discovered something pretty spectacular. For every condo hotel loan I ever did for someone, I ended up with 1.7 loans from that particular buyer within a five year period! What does that mean? I was almost 18

July 2008

guaranteed another loan from someone every time I closed their condo hotel loan. I would like to think it was my debonair charm and razor sharp wit that got me those additional loans, but, well…. I really don’t possess either of those characteristics. It in fact had very little to do with me and almost everything to do with the buyer profile I was dealing with. Condo hotel and resort residence buyers will simultaneously own weekend getaway units in Las Vegas, ski lodge units in Colorado, and winter escapes in the state of Florida. These are the buyers you want to be working with! One thing I always loved about the condo hotel buyer is that they are savvy. You rarely need to explain what an ARM, or an INDEX, or points are. They know. In most cases, they already know exactly what type of mortgage they want and you can get right down to business. They overwhelmingly have access to the internet, email, and they actually scan and email their personal docs to you! Some of my friends focus on first time home buyers and I have a great deal of respect for them. They love that niche and do very well with it. I on the other hand would not last one month dealing with first time home buyers. I have been pampered what can I say. For the past five years, 95 % of my applications have come to me via online applications. And believe it or not, the vast majority of them were actually done correctly! A ten minute conversation with the buyer and I was off and running. Those are my kind of clients. Most of the recent negative news surrounding condo hotels revolves around the unhappiness of speculators and cash flow investors. Condo hotels are not cash flow investments. Not even close. They are great second homes and primary residences, period. As more and more true second home buyers purchase them, you will see the market improve. The day of the condo hotel investment speculator is almost over. More and more second home owners will turn in their beach houses, cottages, and log cabins for condo hotels and resort residence properties. Let’s face some hard facts about our society. We work ourselves to the bone and we want products that are “head ache free”. We want products that provide relaxation and enjoyment, with out any of the work. Our professional lives are enough work. “Do it yourselfers” are a dying breed, both literally and figuratively. The average American finds themselves devoting so many hours at work, they can’t find the time or desire to do anything

Weathering the storm.

Let’s face it; things aren’t looking so good right now. And chances are the market will show us a few more dark clouds before the sun comes out again. Despite these gloomy forecasts, Avatar is ﬁnancially stable and has plenty of capacity to fund new loans. A hard money loan may be the ideal way for your clients to seize an opportunity, solve a problem and weather the storm. So if you’re ready to deal, we’re ready to listen. Call us today at 888.896.0083 to discuss your loan or visit www.avatarﬁnancial.com for more information.

A different kind of loan. A different kind of lender.

themselves. Think about this; 100 years ago, the average American actually built their own home. Today, we can’t even fix a leaky faucet without calling in an expert. We just don’t want to deal with it. We’ve become a society of remote controls, ten minute oil changes, and miracle diet pills; anything to save us the trouble. We devote 50, 60, 70 hours a week to our professional lives. Let someone else build it, fix it, and maintain it. That’s the American motto, and the motto of most industrialized countries. One can argue the virtues of a society such as this, but one can’t deny that condo hotels and resorts residences are uniquely positioned to meet this demand. And the demand is “head-ache free home ownership.” And it’s not just us, it’s happening all over the world. And it is certainly not just real estate products, it’s every product. One excellent example is the automobile industry and the “warranty” phenomenon that has occurred over the past 10 years. Every manufacturer has been competing for the industry’s “best warranty”. What they are really competing for is the most “hassle free” product. No one wants to fix their car and no one has time for routine maintenance. The companies that are creating the most hassle free products, regardless of the industry, are the ones that are successful. Real estate developers possess excellent radar about this phenomenon and they are moving to meet the demand with new and innovative, “hassle free” home ownership opportunities. For more information on this genre, please visit www.condobanking.com. Craig Flaherty is an Author and a National Mortgage Consultant. He has been one of the country's premier condo hotel and condominium resort lenders for years now, both as an independent mortgage broker and as a Loan Officer for a top, nationally recognized, bank. Craig can be contacted at craig@condobanking.com.

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UTILIZE "HIDDEN ASSETS" Mortgage broker professionals make use of alternative finance options. BY KEVIN DUFFY

he current state of the mortgage industry means commercial mortgage brokers and their small business customers need a creative approach towards generating new business. Small businesses are impacted because they can’t get loans – for real estate or anything else. Because of the recent collapse of the sub-prime mortgage market, traditional options may be limited for many small business owners who are already challenged with low credit ratings. Their struggles are then compounded by the fact that those businesses may have only been open for one year or more, lack personal collateral or are in an industry that banks tend to reject. To fill in the revenue gap, brokers should consider expanding their product set with alternative working capital products. Commercial brokers talk to small and mid-sized business owners all day long. Many of these businesses need working capital, but are having an even harder time getting it. Home equity is tapped out, as are credit card limits. What alternative is out there for these owners to get the money they need to run their business? How can brokers assist their customers during this time? Long Island-based mortgage broker Gerald Filardi knows how to take advantage of a good opportunity when he sees one. Filardi started in 1999 in response to the housing boom happening right in his own backyard. His business quickly grew to include 400 members, nearly 80 offices nationwide and a telemarketing center employing 75 representatives. However, he began to notice, as did many in the industry, that the nonprime lending market issues of 2007 threatened his future business and would impact his revenue. His first instinct: diversify his product portfolio and fill in the revenue gap. "I decided to investigate alternatives that would take advantage of my financing background and leverage my company’s existing client base,” said Filardi. “Every day we

deal with small business owners who are looking for solutions to help them manage cash flow. I figured that credit would tighten, and small-business owners would be negatively impacted. I thought that there must be some product out there that could get them money during this period.” Filardi is not alone in his quest for sustained revenues and ways to provide value to his customers. Many businesses have the ability to access a little-known “hidden asset” – their future credit card sales – to get funding. This type of funding is often called a Merchant Cash Advance and with more than six million small businesses today accepting credit cards as a form of payment, the market is huge and virtually untapped.

A Reliable Option Adding a Merchant Cash Advance to their product portfolio offers commercial mortgage brokers the ability to serve these businesses and expand their customer base through a simple referral process. Partnering with a working capital provider gives them another need that can be filled besides real estate. Even businesses that could qualify for traditional loans may prefer the ease, speed and simplicity of this funding. The application is usually short and financial statements and or tax returns are rarely required. Approval decisions are made quickly. There are no fixed payment amounts – the provider gets paid only when the business gets paid. The money can be used for any business purpose – expand into a new location, renovate an existing location, or even pay emergency expenses. How It Works The business owner sells a fixed amount of its future credit card sales to the Merchant Cash Advance provider at a discounted rate in exchange for working capital today. A TheNicheReport.com

business can receive as much as $150,000 per location.

Automated Because Merchant Cash Advance providers work with the business’ credit card processor to retrieve its percentage of the credit card sales, the process is completely automated. A fixed percentage of the business’ daily credit card receipts is automatically retrieved (through the processor) until the obligation is complete — typically within one year. Unlike loan products, there are no fixed payment amounts and no lump sum to be delivered on a given date once a month. Instead, collection aligns with the business’ credit card sales, with a small percentage taken out every day. This helps the business manage its cash flow and minimize the drain on working capital. Plus, the automated collection process gives the merchant more time to focus on running the business. Unique This kind of arrangement involves a purchase and sale of future credit card receivables; therefore, it is not a loan product. Application or expedite fees are rarely imposed. There is no interest rate, no fixed term and no monthly check to write. No personal collateral is required. In addition, because the working capital provider receives a small fixed percentage of each credit card transaction, there is no possibility of prepayment penalties or late fees. Knowing the fixed percentage to be taken makes daily cash management much more predictable. Simplified Another benefit to this type of funding is that the application process is less complicated and has fewer documentation requirements than those of traditional financing. Typically, the business owner provides four months of processing statements to begin the approval process. Approval decisions are made quickly. In fact, working capital can be provided in less than 10 working days. If the business is already using an approved credit card processor, the time in which funds are provided can easily be reduced to 72 hours. The Solution Filardi Was Looking For For Gerald Filardi, Merchant Cash Advances were the perfect fit to expand his portfolio. He began offering the product in May of 2007 and since then has increased his overall revenues. The very high renewal rate for the product is expected to result in significant residual commissions. “Merchant Cash Advances are a perfect complement for my existing business because they can provide money to small 22

July 2008

business owners that traditional institutions usually can't, or won’t serve,” said Filardi. He continues, “Now, in addition to helping owners with their mortgage needs, I can also provide them with working capital to keep their businesses running while making an additional commission."

A Winning Proposition for Commercial Mortgage Brokers You talk to small business owners every day. By adding working capital funding to your product line-up, you will be able to close more deals by funding those clients who can not qualify for traditional financing or who would simply prefer another more cash-flow friendly option. By offering a solution they may not know exists, you become a knowledgeable problem solver and advisor. You will not only win the initial sale, but increase the likelihood of future sales – and additional referrals. That means more commissions. Who wouldn’t want to make more money? It’s a win-win for everyone. SIDE BAR In a recent survey of 250 small business owners that currently accept credit cards, Capital Access Network asked the following question: “Where do you turn to first for access to working capital (funding) for your business?” Not surprisingly, of the many sources that offer working capital, traditional banks rank at the top of the list, while new providers such as mortgage brokers fell to the bottom. With nearly six million small business owners accepting credit cards, the time is right for mortgage brokers to begin to reach out this virtually untapped market.

Source: Capital Access Network Small Business Barometer (September, 2007)

Kevin Duffy is Vice President of Sales for AdvanceMe, Inc., a premier provider of Merchant Cash Advances located in Kennesaw, GA. He can be reached at kduffy@AdvanceMe.com. For more information visit www.AMIBrokerProgram.com..

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NEW HOME VALUATION CODE OF CONDUCT Who will pay the price? BY GEORGE H. MARENTIS, J.D.

he purpose of this article is to provide TNR readers with a summary of the NEW Home Valuation Code of Conduct that has been proposed by FNMA and FHLMC. It is scheduled to become effective January 1, 2009 for loans sold to or guaranteed by these two GSE’s. I will address the impact of the new code on the mortgage industry as well as whom, when, and how appraisals must be ordered. Note, the information here is based on current information and these new rules may change prior to the mandatory implementation date.

Code of Conduct Overview In an agreement between New York Attorney General and FNMA and FHLMC, the New York AG announced that it has terminated it’s inquiry of the GSE’s that began in November 2007 as part of the Attorney General's complaint against First American Corporation regarding that company's appraisal practices. As part of the agreement, to be discussed here, FNMA will take steps to assist the regulators in their efforts to enhance the quality and independence of the appraisal process; thus, the creation of the Home Valuation Code of Conduct. Under this code, requirements will be established to govern the appraisal selection process, as well as the solicitation, compensation, conflicts of interest, and corporate independence of appraisers, among other requirements. This means that any loan being sold or guaranteed by a GSE starting January 1, 2009 will require the lender represent and warrant that the appraisals are compliant with the Code. Codes Impact on the Mortgage Broker The mortgage broker will no longer be allowed to select, retain or compensate an appraiser. This function will now be performed by the lender or an independent 24

July 2008

appraisal management company. Who will this new code hurt most? I suggest that it would hurt the consumer most because it will increase the cost to the consumer for a couple of reasons. First, if an appraisal management company is being utilized, there is this additional third party cost. Second, if the lender orders the appraisal and the lender denies the loan, changes guidelines, or another lender has a better program, the original lender may not forward and re-assign the appraisal to the new lender without a fee. Worst yet, the consumer may be forced to pay for a new appraisal with the new lender.

Impact on the Lender With new appraisal requirements being imposed on lenders, will these new requirements translate into additional costs that will be passed onto the consumer? A lender will be: 1. Responsible for selecting, retaining, and providing payment of all compensation to the appraiser. This function can also be done by an independent appraisal management company. 2. Required to make sure that the selection, retainer, and payments paid to the appraiser will be done by staff employee(s) who are independent of the lender’s loan production staff whose compensation is not directly related to loan closings. Additionally, these employees are to be appropriately trained and qualified in the area of real estate and appraisals. 3. Able to use in-house staff appraisers to order appraisals, conduct appraisal reviews, provide quality control functions, and valuations on loan workouts. 4. Prohibited from “bullying” the appraisers. They will not be able to coerce, intimidate, bribe, or withhold payment to an appraiser in an attempt to influence or

compromise the appraiserâ&#x20AC;&#x2122;s independence. 5. Required to represent, warrant, and certify that appraisals were obtained in strict conformity with the new standards. 6. Required to randomly QC review 10% of all appraisals and AVMs. 7. Required not to employ staff appraisers to produce appraisal reports, but may use staff appraisers for QC review purposes. 8. Not be able to obtain appraisals from title insurers and other bundled settlement service providers. 9. Required to establish a telephone hotline, disclose the number to consumers, and provide a free copy of the appraisal. 10. Required to provide a copy of any appraisal report free of charge within 3 days of the closing of the loan. However, the borrower may be required to reimburse the lender for the cost of the appraisal.

The Ultimate Impact of the Code will be on the Consumer It is my opinion that something should be done to protect the consumer and lender from appraisal fraud. The Home Valuation Code of Conduct is not the way to accomplish it. The bottom line is this: The ultimate price will be passed onto

the consumer. The consumer will have higher costs related to obtaining the loan, either through an appraisal management company or by having to get multiple appraisals for the same transaction because the initial lender, who ordered and paid for the appraisal may not re-assign the appraisal to another lender. If the appraisal was to be reassigned there would be an additional cost for the re-assignment. Also, the consumer cannot have their loan shopped to multiple lenders for the best deal because, as stated above, the use of an appraisal may be restricted to the ordering lender. Unfortunately, in any case, the consumer pays the price. George H. Marentis is President/CEO of Compliance Made Simple, LLC, a company that provides licensing services and other compliance related services to the mortgage lending industry nationwide. For more information see www. compliancemadesimple.org or call them at 303.859.8550. Mr. Marentis has a Juris Doctorate and over 15 years of mortgage lending experience ranging from frontline operations, origination to regulatory and legislative compliance. Information provided in this article is not intended to be considered legal advice, seek advice from in-house counsel or outside attorney.

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CENTER STAGE

CENTER STAGE WITH REMINGTON FINANCIAL GROUP Providing opportunities for underserved markets. BY THE NICHE REPORT

he Niche Report would like to present to you a company that truly needs no introduction - Remington Financial Group, a commercial lending services company with presence and leadership that offers “seamless financing with terms that are often superior to conventional ANDY BOGDANOFF approaches”. Andy Bogdanoff, the man at the helm, gives us an opportunity to find out more about him and his company.

That’s why I started RFG. I think that the commercial lending space is underserved in general; there aren’t that many companies that specialize in commercial lending, so it made sense to fill that void. More specifically, there are even fewer companies that can provide highly leveraged financing. That’s what makes Remington different. We can provide traditional senior debt loans, but our company can also deal with those highly leveraged financing deals that require things like mezzanine or equity loans.

Andy, How did you get into the commercial lending space?

From both a professional level and a personal level, I like the work. I enjoy problem solving and find that this business creates an environment that lets me be creative since no two deals are exactly the same. Every deal has its own identity and unique nuances, and I find that working to find ‘outside the box’ solutions is both challenging and rewarding.

I worked in a traditional residential shop that occasionally received inquiries for commercial deals. We had previously never done anything with these leads, but the president of the company noticed it as an opportunity. In 1973 he offered me the chance to create a division to focus on commercial requests and to figure out how to generate revenue from them. After that, I was hooked. I’ve worked continuously in the commercial lending space for almost 35 years, in a variety of capacities including starting several commercial mortgage companies. In 1993 I founded Remington Financial Group where I act as the company’s chairman. What is Remington Financial Group and why did you start the business? What makes your company unique? Remington Financial Group, or RFG, provides financial services to sophisticated real estate owners and developers nationwide. Having been in the industry for so long, I tend to see opportunities for underserved markets.

What keeps you in the game after 35 years?

What is your sense of the commercial lending space over the next 12 months? As everyone knows, the economy is tight and will remain that way for at least the next 12 months. When the economy is tight, it creates an opportunity for companies like RFG. The current market condition means that finding solid financing options is more challenging. The biggest and the best companies can still find financing relatively easily, but as you move through the subsequent tiers – those companies that are not quite as big or well established –the process is more difficult. Companies that previously arranged financing internally are now considering outsourcing the process, and are looking for a highly qualified firm, like Remington, that has expertise in struc-

TheNicheReport.com

CENTER STAGE

turing deals and finding available financing. For companies like RFG, the worse the market conditions the greater the demand for our services. We have always been an attractive option for B- or C-level companies looking for financing, but now our phones are ringing with calls from A-level companies that are unable to secure financing from their traditional sources.

stance, we have programs for brokers that just want to give us a name and number and have us work the deal. We have other programs for the highly and actively involved broker that wants 100 percent client control and uses us as a back office function. And we offer everything in between.

What are some of the challenges facing the industry this year?

Our goals focus exclusively on closing transactions. We are shooting to get to $1.5 billion in closings during the 2008 calendar year. Given our approach to broker relationships, our ability to access financing and our expertise in structuring complex commercial deals, I feel confident we will meet this goal.

It’s taking a bit longer to put a deal together and take it through funding. And, because there are fewer sources that are open for business and that are looking to do deals, our jobs are more challenging. How does RFG address these challenges? RFG performs well in these conditions for a couple of reasons. First, we have great relationships with lenders and know where the available capital is for our business dealings. Second, we have a tremendous amount of expertise – remember, I’ve been doing this for 35 years – that helps us structure deals in a way that makes them more desirable. There are a limited number of dollars available today, and Remington can present a deal in the best way so that lenders can easily see the value of the deals presented to them. This expertise helps us secure funding for our clients more easily and efficiently. What is RFG’s relationship with Brokers? It’s simple – Remington Financial Group puts a premium on the broker relationship. Companies like ours can market to the broker or to the end user. We see the broker as a tremendous value, so have structured our entire strategy to focus solely on the broker community. Because we don’t market to the end user, we do not compete with brokers and are able to coordinate our efforts jointly with them. We appreciate and support the role a broker plays and take proactive efforts to ensure we don’t compete with the brokerage community. How do you like to work with brokers? We are prepared to be highly proactive or very passive, depending on the broker’s approach and have different programs in place for these different approaches. For in28

July 2008

What are RFG’s goals over the next 12 months?

Andrew Bogdanoff has more than 35 years commercial lending experience and founded Remington Financial Group in 1993. He has served as the company’s president since its inception, and under his leadership the company has grown to a closed transaction rate of well in excess of $2 billion. Andy can be reached at andy@ remingtonfg.com or 480-905-3239. For more information on Remington Financial Group, please visit www.remingtonfg.com.

TIP OF THE MONTH

TIP OF THE MONTH Marketing Zaio Style BY STEWART MEDNICK

n my May column, I wrote about what I call ‘The Formula’; benefit – cost = value. One reader, who read the column, was inspired to write to me with some very valuable related information on the topic of superior customer service. He stated that: “…marketing customer service is an area where many mortgage companies are deficient. Every day I hear stories about marketing efforts proving to be ineffective…” Jim Kirchmeyer is the Vice President of Northeast Operations for Zaio Inc, the North American leader in developing and maintaining a database of photos, valuations and property information of virtually every residential property for entire cities. He knows a thing or two, being in the real estate/appraisal business since 1986. The questions he wants to ask to you are: How do you measure the results of your marketing campaign? Who is your target audience? Have you performed research prior to launching your campaign? Too often, these questions return a deer-in-the-headlights type look in response. Jim would like to share five simple techniques that any company can use to produce results.

1. Create an Internal “Think Tank” For those who work in a larger financial institution, brainstorm with other departments to determine consumer needs. Different departments play specific roles in a mortgage-related business. While these roles come together to meet the goal of closing the deal, these same entities should be involved early in the process and focus on serving the customer. There is a wealth of information that each department can contribute, and to maximize your market30

July 2008

ing dollar, it is important to hear from them all. Take into account what each has to say, from operations and sales to information technology. This is where you will determine what your unique advantage is over your competitors. Jim has a great point here. I would like to add that for smaller companies like the independent brokerages, perform this process in a weekly training or staff meeting. Utilize the input from all of the diverse backgrounds of the entire staff, including processors and administrative support.

2. Determine Your Target Market Once you’ve met with your departments (or staff ) and discussed consumer needs in general, you must determine your target market. If you specialize in refinances, a new homebuyer won’t be interested in your product. Are you looking to increase your reverse mortgage portfolio? Then target a more mature homeowner segment. Know your audience and address them in your marketing campaign. Your return on investment (ROI) will be greater. 3. Research, Research, Research Take the time to research where your message will be most successful. There are many media outlets available, but not all will be the right fit. Before you make the investment, search around and find the medium that works for your message and reaches your target audience. It will take a few clicks of your mouse and several phone calls, but your time will be well spent. Jim’s point here is one that I agree with wholeheartedly. I would caution, however, to not put all your marketing eggs in one basket. Try one with a small investment; see if it works before writing the big check.

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TIP OF THE MONTH Recent Closings: 4. Track Your Investment Here is where it can all go downhill if this task is not properly executed. You’ve done everything right. You’ve seen an increase in applicants and profits are up. Is this due to marketing or an otherwise explained increase in market demand? This cannot be determined unless you’ve been tracking your marketing investment. Just as you would check your stock portfolio every day, the same should go for your marketing dollar.

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Jim’s point here tied in well the with SWOT Analysis concept I talked about in the May issue.

5. Find an Agency to Assist You in Your Efforts Look into hiring an agency that specializes in marketing and public relations to help you. I am not an architect. Therefore, I am not going to fool myself into thinking I could design a building to industry standards and specifications. As simple as this may sound, many companies don’t consider this an option. While some may believe this is an unnecessary expense, I can assure you this is one investment you should make before launching a major marketing campaign. It will prove well worth it. Thank you Jim! Great information that dovetails well with much of the information this column provides every month. If you are interested in contributing feedback to the contents of this column, send me an email at smednick1@netzero.net.

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DOING DOING THE THE IMPOSSIBLE IMPOSSIBLE EVERYDAY. EVERYDAY.

Stewart Mednick is a seasoned mortgage banker and published author. His writing focuses on relationship development, customer satisfaction, marketing and sales techniques. Stewart is available for personal coaching and training sessions. If you have a comment or a question for Stewart, contact him at 651-895-5122 or smednick1@netzero.net.

ONE BORROWER AT A TIME

James Kirchmeyer currently serves as an executive officer of publicly traded Zaio Corporation, an independent supplier of technology and appraisal services to more than 500 USA lenders. He is responsible for product development, public relations, marketing communications, pricing, market research, and customer service. Kirchmeyer is also the founder of real estate appraisal company, Kirchmeyer & Associates, and the author of AVMs 101: A Guide to Automated Valuation Models. His most recent accomplishment is the completion of his second book AVMs 201: A Practical Guide to the Implementation of Automated Valuation Models, available online at http://www.zaio.com/avms201/.

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602-574-0100

www.greystonefinancialonline.com

American Home Equity Corporation

714-661-5800

www.ahedirect.com

MFC Mortgage, Inc

877-562-6754

www.gomfc.com

Avant Capital Partners, LLC. (Commercial)

212-219-9419

www.avcapital.net

Midwest Financial Capital (Commercial)

317-844-7776

www.midwestfinancialcapital.com

Colorado Federal Savings Bank

800-726-3308

www.jumboFunder.com

Online Financial Group

703-307-7006

www.ofglending.com

Community Commerce Bank (Commercial)

916-648-2680

www.ccombank.com

Royal Crown Bancorp

877-507-6925

www.crownloan.com

Global Lending Group

727-530-0110

www.glgiwholesale.net

Wilmington Finance

405-227-1152

www.wfbroker.com

NONPRIME Premium Listings

Alternative Lending Solutions, Inc. 703.365.7800

Non Conforming allowing cash out to 95% LTV with 620 score, Allowing unlimited 30 and 60 day lates in past 12 mos

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lenderâ&#x20AC;&#x2122;s information on products, program, procedures, representations, and warranties for details.

TheNicheReport.com

NICHE REPORTS

NONPRIME premium niches continuedâ&#x20AC;Ś

Brownstone Mortgage Capital

1st or 2nd TD's on non-residential properties. CA only. $100k to $1mil

800.547.1285 Ext 109

Emigrant Mortgage Company, Inc. 1.800.EMIGRANT (364.4726) Ext Mid-Atlantic

Gregory Funding LLC

NINA financing for applicants with Ficos below 600 (excluding MD O/O per SB 270), max LTV 60%, Loan Amounts up to $1mm+ considered. LowDoc (Income Verification) financing for foreclosure bailouts also available up to Max LTV of 60% Direct Portfolio lender specializing in funding loans traditional lenders cannot. NOD or BK OK. No Credit Score. No Pre-payment Penalty. Up to 75% LTV. Loan amounts up to 3.5M. Lending territory: AZ, CA, CO, ID, NV, OR & WA

888.324.3578

National Business Finance

Guaranteed Permanent Financing for Residential Subdivisions at bank rates and terms in conjunction with our Building Materials Program

954.495.4791 NONPRIME Lender Listings Sponsored by Lenderlab.com AgriCap Financial Corporation

213-542-5232

www.agricap.com

Global Lending Group

727-530-0110

www.glgiwholesale.net

Alliance Financial, Inc. (Hard Money)

866-603-5999

www.afiloans.com

Icon Residential Capital

888-639-5641

www.iconrescap.com

American Home Equity Corporation

714-661-5800

www.ahedirect.com

JMAC Lending

877-841-0776

www.jmaclending.com

American Mortgage Exchange

443-375-0973

www.american-mortgage.info

Just Mortgage, Inc.

714-860-8867

www.justmtg.com

Avant Capital Partners, LLC. (Commercial)

212-219-9419

www.avcapital.net

Mager Capital (Hard Money)

310-760-6290

www.magercapital.brokerca.com

Online Financial Group

703-307-7006

www.ofglending.com

CFA Capital Partners (Commercial)

914-967-5780

www.cfacap.com

PB Financial Group Corp. (Hard Money)

310-289-0900

www.pbfinancialgrp.com

Chevy Chase Bank

866-591-4355

www.chevychasewholesale.com

Senderra Funding

704-831-3600

www.senderra.com

Community Commerce Bank (Commercial)

916-648-2680

www.ccombank.com

St. Cloud Mortgage (Commercial)

877- 653-3276

www.farmerloan.com

Eastern Savings Bank (Commercial)

800-787-8187

www.easternsavingsbank.com

Titan Hard Money (Hard Money)

323-377-0979

www.titanhardmoney.com

Eastgate Equities (Commercial)

800-997-7244

United Residential Lending

404-661-4632

www.urlending.com

Fifth Third Bank

866-492-0072

www.53.com/wholesalemortgage

WholesaleLending.com (Commercial)

866-303-6301

www.wholesalelending.com

Flagstar Bank

800-897-7222

www.wholesale.flagstar.com

Wilmington Finance

405-227-1152

www.wfbroker.com

Gaukroger Enterprises, LTD. (Hard Money)

510-677-9464

Central Tejas Capital Group, Inc. (Commercial) 317-351-8037

HARD MONEY Premium Listings

Ambit Funding 800.823.7101

Short-term commercial bridge lenders; Most property types including RAW LAND; All 50 states, and Canada; Max LTV 70%, 50% on Land

July 2008

NICHE REPORTS

HARD MONEY premium niches continuedâ&#x20AC;Ś

Anglo-American Financial, LLC 434.981.1017

Anglo-American Financial, LLC 512.657.9310

AgriCap Financial Corporation 213.542.5232

Asset Funding Group 866.398.8916

Avatar Financial Group 888.896.0083

Fairview Commercial Lending 866.634.1270

First Mount Vernon

50% LTV; $1 Million minimum; land & improved property; nationwide with special interest in land in NW Pennsylvania

Still lending in a tough market - Asset-based loans starting at $ 1 Million; nationwide and international ; DIP Loans

Agriculture including facilities and part-time farms, commercial, special purpose properties Direct lender - up to 70% LTV: Bridge loans, purchase & rehab, construction financing, raw land, no minimum credit score requirments. Nationwide lending from $300k to $3 million, 24 hour commitment as fast as 5 days to close. HARD MONEY- MADE EASY Bridge loans for improved commercial real estate from $1 million, terms up to two years with no prepayment penalties. We are a direct lender and brokers are protected. Apply online at www.avatarfinancial.com or simply give us a call No minimum credit score, foreclosure bailouts, Quick Closings nationwide, commitments in 24 hours

866.908.FMV1 (3681)

No seasoning requirements, No upfront commitment or processing fees, Minimum credit score 400

First Mount Vernon

Minimal documentation required, Combined Loan-to-Values to 105%

866.908.FMV1 (3681)

Lansdowne Mortgage

Smart Residential lending in Florida - up to a 65% ltv

305.740.9988

LJL Funding 888.456.0246

FC Bailouts - No FICO requirements. Focused strictly on the residential market. Tech oriented direct hard money lender. Consistent Guidelines Great Service!

Manaseh, Epharim & Associates

Private hard money financing for commercial real estate investments

678.387.3230

Metro Funding Corp 866.302.6360

Fast closing, no points upfront, all commercial properties including land, acquisitions, refis, and development loans

TheNicheReport.com

NICHE REPORTS

HARD MONEY premium niches continued…

Miner Capital Funding, LLC

Specializing in collateral-based real estate loans nationwide. We get deals done!! As fast as 4 days! Loan amounts 1 million to 20 million

866.302.6360

Remington Financial Group, Inc.

Up to 65% of valued collateral, fast closing

480.905.3239

Unifund Financial Group Inc.

Direct lender specializing in HELOC 1st and 2nd position loans between 25k-250k

619.987.1083 HARD MONEY Lender Listings Sponsored by Lenderlab.com Advantage Capital Equity Solutions

800-223-3019

www.adcapequity.com

J & J Financial

714-256-4416

www.10dayloan.com

AgriCap Financial Corporation

213-542-5232

www.agricap.com

Lakeside Financial Inc.

949-297-4180

www.nofico.net

Alliance Financial, Inc.

866-603-5999

www.afiloans.com

Lib Properties, LTD.

404-256-8600 www.libloans.com

American Acceptance (Commercial)

800-452-9287

www.aamcap.com

Mager Capital

310-760-6290

www.magercapital.brokerca.com

Avant Capital Partners, LLC. (Commercial)

212-219-9419

www.avcapital.net

Magnolia Financial Consultants (Conventional) 601-428-1005

www.hardmoneymortgages.com

Bay Equity

800-229-3703

www.bayeq.com

Meridian Group

800-901-9301

BFS Capital, LLC. (Commercial)

510-381-1930

www.bfscapital.com

MiStar Financial (Commercial)

720-200-2600

BlueWater Funding, LLC

301-656-6566

www.bluewaterfundingllc.com

My Discount Mortgage

832-276-0979

California Equity Lenders

818-584-2320

www.calequitylenders.com

Normandy Mortgage

760-220-4330

Central Tejas Capital Group, Inc. (Commercial) 317-351-8037

Pacific Mortgage Funding Corp. (Commercial) 562-864-4006

www.mistarfinancial.com

www.pacificmortgage.com

CFA Capital Partners (Commercial)

914-967-5780

www.cfacap.com

PB Financial Group Corp.

310-289-0900

www.pbfinancialgrp.com

Commercial Hard Capital, LLC (Commercial)

832-607-6778

www.commercialhardcapital.com

Piedmont Capital Lending, LLC.

678-292-6984

www.piedmontcapitallending.com

Commercial Loan Capital (Commercial)

877-473-6984

www.clcloans.net

Porter Bridge Loan Company (Commercial)

866-725-1777

www.porterbridgeloan.com

Commercial Mortgages 101 (Commercial)

800-763-3036

www.commercialmortgages101.com

Remington Financial Group

480-570-0679

www.remingtonfg.com

Crawford Park Financial

626-796-7979

www.crawfordparkfinancial.com

SmartServ Solutions

888-633-4778

www.bronxhardmoney.com

www.cushrex.com

TCRM Commercial Corp. (Commercial)

212-371-3933

www.tcrmcommercial.com www.regd506.com

Cushman Rexrode Capital Corp. (Commercial) 925-988-7200 Diamond Bay Investments, Inc.

702-254-9303

www.diamondbayinvestments.com

The Loan Doctors, Inc. (Commercial)

954-647-7679

Eastern Savings Bank (Commercial)

800-787-8187

www.easternsavingsbank.com

The Money Source, LLC. (Commercial)

480-946-4000 www.themoneysourcellc.com

The Money Tree Financial Services LLC

718-256-3490

Titan Hard Money

323-377-0979

www.titanhardmoney.com

Unifund Financial Group, Inc.

619-573-0289

www.unifundinc.com

Eastgate Equities (Commercial)

800-997-7244

Emerald Financial

714-965-6688

Exeter Holding Ltd. (Construction)

516-338-7500

www.eprivatemoney.com

First Credit Commercial Capital Corp. (Cml.) 407-843-6262

www.fchardmoney.com

WexTrust Capital, LLC

212-643-6190

www.wextrust.com

First Mount Vernon Industrial Loan Association 703-823-6800

www.fmv1.com

WholesaleLending.com (Commercial)

866-303-6301

www.wholesalelending.com

Gaukroger Enterprises, LTD.

510-677-9464

Global Lending Group

727-530-0110

www.glgiwholesale.net

GMC Mortgage Capital

954-332-3567

www.gmcmortgagecapital.com

Investor Funding

864-213-3951

www.4investorfunding.com

July 2008

NICHE REPORTS

COMMERCIAL Premium Listings

AcuPen Financial

High LTVs, and low debt coverage ratio requirements

305.666.1879

AgriCap Financial Corp

Agriculture -- Farms, Ranches, Facilities

213.542.5232

Avatar Financial Group 888.896.0083

Fairview Commercial Lending 866.634.1270

Gregory Funding LLC 888.324.3578

Griffin Capital Funding 540.548.1001

Imperial Capital Bank 800.818.1753

Indymac Bank 866.908.3279

Ocean Capital

Great rates on commercial real estate loans, fully amortizing up to 25 years. Most property types considered including hotels, multi-family and special-use. Full doc is required for these competitive rates. Please call to request a rate sheet No minimum credit score, foreclosure bailouts, Quick Closings nationwide, commitments in 24 hours Direct portfolio lender specializing in funding loans traditional lenders cannot. Loan amount up to 3.5M. No Credit Score Requirement. Up to 70% LTV with full docs. NOD or BK OK. No Pre-payment Penalty. Lending territory: AZ, CA, CO, ID, NV, OR & WA Church Loans from $75,000 to $30 million. Purchase, refinance, renovation and construction. No personal guarantees needed, no tax returns or audited financial statements Adjustable & fixed perm programs up to 80% LTV. Hybrid & Bridge loans available for most income property types. Flexible structures to meet the needs of the brokers and borrower Loans for Multifamily / Apartment Complexes (5+ units), Mixed Use (if Commercial is less than 35%), and Mobile Home Parks; purchase and refinance (including cash out); Hybrid ARMs and fixed product choices

877.337.3757

We're the real deal for subprime owner-occupied commercial mortgages to $2M. Credit scores to 500. Up to 90% financing. Low debt-service coverage. Stated & investment programs. Difficult-to-finance industries welcome

Manaseh, Epharim & Associates

Fast, flexible funding for all your commercial financing needs

678.387.3230

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

TheNicheReport.com

NICHE REPORTS

COMMERCIAL premium niches continued…

Mertro Funding Corp

Fast closing, no points upfront, all commercial properties including land, acquisitions, refis, and development loans

866.302.6360

Remington Financial Group, Inc.

Senior financing on existing real estate all property types, competive rates

480.905.3239 Specializing in Full and Simple Doc small balance commerical loans up to $5 M. Our unique Commercial Automated Underwriting System allows for instant approvals, including pricing options. No upfront fees! Experience ease of execution – call today.

Trilogy Commercial Lending 888.875.5055

Unifund Financial Group Inc.

Private money commecial lender specializing in income producing properties. Loan amounts to 4 million dollars

619.987.1083 COMMERCIAL Lender Listings Sponsored by Lenderlab.com Advantage Capital Equity Solutions (Hard Money)

800-223-3019

www.adcapequity.com

Mager Capital (Hard Money) Magnolia Financial Consultants

Affinity Bank AgriCap Financial Corporation Alliance Financial, Inc. (Hard Money) American Acceptance American Commercial Capital Arlington Richfield Avant Capital Partners, LLC. Berkshire Capital Financial, Ltd. BFS Capital, LLC. Brownstone Mortgage Capital California Equity Lenders (Hard Money) Central Tejas Capital Group, Inc. CFA Capital Partners Ciena Capital CIT Small Business Lending Corp. Colorado Federal Savings Bank Commercial Division

877- 862-7245 213-542-5232 866-603-5999 800-452-9287 800-601-8801 248-613-7423 212-219-9419 212-986-9890 510-381-1930 800-547-1285 818-584-2320 317-351-8037 914-967-5780 800-722-5626 404-244-4592 303-771-1031

www.affinitybank.com www.agricap.com www.afiloans.com www.aamcap.com

(hard money/conventional)

Commercial Hard Capital, LLC Commercial Loan Capital Commercial Mortgages 101 Community Commerce Bank Crawford Park Financial (Hard Money) Cushman Rexrode Capital Corporation Diamond Bay Investments, Inc. (Hard Money) Direct Lending Group (Hard Money) Eastern Savings Bank Eastgate Equities Emerald Financial (Hard Money) Equity One Commercial Excelsion Mortgage First Mount Vernon Industrial Loan Association (Hard Money)

832-607-6778 877-473-6984 800-763-3036 916-648-2680 626-796-7979 925-988-7200 702-254-9303 888-354-6030 800-787-8187 800-997-7244 714-965-6688 407-370-7843 888-578-5441 703-823-6800

www.commercialhardcapital.com www.clcloans.net www.commercialmortgages101.com www.ccombank.com www.crawfordparkfinancial.com www.cushrex.com www.diamondbayinvestments.com www.dlendinggroup.com www.easternsavingsbank.com

GMC Mortgage Capital (Hard Money) Griffin Capital Funding Interbay Funding, LLC Investor Funding (Hard Money) Lib Properties, LTD.

954-332-3567 800-710-6762 877-207-6099 864-213-3951 404-256-8600

www.gmcmortgagecapital.com www.ysploans.com www.interbay.com www.4investorfunding.com www.libloans.com

www.arlingtonrichfield.com www.avcapital.net www.berkshirecapital.net www.bfscapital.com www.brownstoneloans.com www.calequitylenders.com www.cfacap.com www.cienacapital.com www.smallbizlending.com www.cofedbankcommercial.com

www.eprivatemoney.com www.equity1commercial.com www.excelsionbrokers.com www.fmv1.com

310-760-6290 601-428-1005

Meridian Group (Hard Money) 800-901-9301 Midwest Financial Capital 317-844-7776 Mission Oaks National Bank 951-719-1200 MiStar Financial 720-200-2600 832-276-0979 My Discount Mortgage (Hard Money) National Business Finance 954-495-4791 Pacific Mortgage Funding Corporation 562-864-4006 310-289-0900 PB Financial Group Corp. (Hard Money) PFA Capital, LLC. 800-531-4589 Piedmont Capital Lending, LLC. (Hard Money) 678-292-6984 PMB Capital, Inc. 818-222-1035 PNC ARCS 800-275-2727 Presidential Bank 301-652-1616 Pribank 866-811-9217 Prudential Mortgage Capital Co. 888-263-6800 Real Estate Lending Group, Inc. (Hard Money) 408-718-2218 480-570-0679 Remington Financial Group (Hard Money) Small Business Loan Source, LLC. 512-215-2727 888-633-4778 SmartServ Solutions (Hard Money) St. Cloud Mortgage 877- 653-3276 STA Capital Group & Advisors 866-610-4141 TCRM Commercial Corp. 212-371-3933 Terrace Capital 212-671-1031 The Money Source, LLC. 480-946-4000 The Money Tree Financial 718-256-3490 Services LLC (Hard Money) 323-377-0979 Titan Hard Money (Hard Money) Trilogy Commercial Lending, LLC. 877-726-9433 619-573-0289 Unifund Financial Group, Inc. (Hard Money) Union Bank of California 877-945-2265 Unity Bank, Subsidiary of Unity Bancorp, Inc. 904-727-7535 Van Corp Financial Opportunities, Inc. 941-927-3438 212-643-6190 WexTrust Capital, LLC (Hard Money) WholesaleLending.com 866-303-6301 World Capital Bancorp, Inc. 888-922-3003

www.magercapital.brokerca.com www.hardmoneymortgages.com

www.midwestfinancialcapital.com www.missionoaksbank.com www.mistarfinancial.com www.nationalbusinessfinance.com www.pacificmortgage.com www.pbfinancialgrp.com www.picconefinancial.com www.piedmontcapitallending.com www.askARCS.com www.presidential.com www.pribank.com www.prumortgagecapital.com www.relginc.com www.remingtonfg.com www.adelinerem.com www.bronxhardmoney.com www.farmerloan.com www.c-loandivision.com www.tcrmcommercial.com www.terracecapital.com www.themoneysourcellc.com

www.titanhardmoney.com www.trilogycl.com www.unifundinc.com www.uboc.com

www.wextrust.com www.wholesalelending.com www.worldcapitalbanc.com

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

July 2008

NICHE REPORTS

CONSTRUCTION / REHAB Premium Listings

Brookview Financial 877.734.2211

Brookview Financial is a National rehab lender licensed in 37 states, specializing in forming successful financing and mentoring relationships with rehab investors at all levels of experience

Manaseh, Epharim & Associates

Private lender specializing in commercial real estate loans nationwide and internationally

678.387.3230

Metro Funding Corp

Fast closing, no points upfront, all commercial properties including land, acquisitions, refis, and development loans

866.302.6360

National Business Finance 954.495.4791

100% LTC Worldwide Non Recourse International Commercial and Residential Subdivision Projects (including land acquisition, development, buyouts and mezzanine funding)

Remington Financial Group, Inc.

Up to 95% financing construction, rehab, renovation, development

480.905.3239 CONSTRUCTION / REHAB Lender Listings Sponsored by Lenderlab.com Advantage Capital Equity Solutions (Hard Money) 800-223-3019

www.adcapequity.com

Flagstar Bank

800-897-7222

Affinity Bank (Commercial)

www.affinitybank.com

Gaukroger Enterprises, LTD. (Hard Money)

510-677-9464

877- 862-7245

www.wholesale.flagstar.com

Alliance Financial, Inc. (Hard Money)

866-603-5999

www.afiloans.com

Investor Funding (Hard Money)

864-213-3951

Arlington Richfield (Commercial)

248-613-7423

www.arlingtonrichfield.com

Lib Properties, LTD.

404-256-8600 www.libloans.com

www.4investorfunding.com

Avant Capital Partners, LLC. (Commercial)

212-219-9419

www.avcapital.net

Midwest Financial Capital (Commercial)

317-844-7776

www.midwestfinancialcapital.com

Berkshire Capital Financial, Ltd. (Commercial) 212-986-9890

www.berkshirecapital.net

National Business Finance (Commercial)

954-495-4791

www.nationalbusinessfinance.com

BFS Capital, LLC. (Commercial)

510-381-1930

www.bfscapital.com

Pacific Mortgage Funding Corp. (Commercial) 562-864-4006

BlueWater Funding, LLC (Hard Money)

301-656-6566

www.bluewaterfundingllc.com

Piedmont Capital Lending, LLC. (Hard Money) 678-292-6984

www.piedmontcapitallending.com

Brookview Financial (Rehab)

877-734-2211

www.brookviewfinancial.com

PNC ARCS (Commercial)

www.askARCS.com

800-275-2727

Builders Capital Mortgage (Construction)

877-647-6984

www.builders-capital.com

Real Estate Lending Group, Inc. (Hard Money) 408-718-2218

California Equity Lenders (Hard Money)

818-584-2320

www.calequitylenders.com

Remington Financial Group (Hard Money)

Central Tejas Capital Group, Inc. (Commercial) 317-351-8037

480-570-0679

Small Business Loan Source, LLC. (Commercial) 512-215-2727

www.pacificmortgage.com

www.relginc.com www.remingtonfg.com www.adelinerem.com

Commercial Hard Capital, LLC (Commercial)

832-607-6778

www.commercialhardcapital.com

TCRM Commercial Corp. (Commercial)

212-371-3933

www.tcrmcommercial.com

Commercial Mortgages 101 (Commercial)

800-763-3036

www.commercialmortgages101.com

Terrace Capital (Commercial)

212-671-1031

www.terracecapital.com

Community Commerce Bank (Commercial)

916-648-2680

www.ccombank.com

The Loan Doctors, Inc. (Commercial)

954-647-7679

www.regd506.com

Cushman Rexrode Capital Corp. (Commercial) 925-988-7200

www.cushrex.com

Titan Hard Money (Hard Money)

323-377-0979

www.titanhardmoney.com

Diamond Bay Investments, Inc. (Hard Money) 702-254-9303

www.diamondbayinvestments.com

United Midwest Savings Bank

614-255-3499

www.umwsb.com

Eastern Savings Bank (Commercial)

800-787-8187

www.easternsavingsbank.com

WexTrust Capital, LLC (Hard Money)

212-643-6190

www.wextrust.com

Eastgate Equities (Commercial)

800-997-7244

WholesaleLending.com (Commercial)

866-303-6301

www.wholesalelending.com

Exeter Holding Ltd. (Construction)

516-338-7500

TheNicheReport.com

NICHE REPORTS

DOWN PAYMENT ASSISTANCE Premium Listings

Futures Home Assistance

Lowest national fee $295.00 complete online processing and FHA training. Use Futures for down payment, closing cost, escrow refund, etc.

800.672.4055

Grant America Program

The only HUD approved and IRS compliant down payment assistance program available

240.780.3333

Partners In Charity

Down payment assistance done the correct way up to 10% nationwide for FHA and conforming loans. Live customer service to answer any questions. EZ online processing and a low low fee of $295.00

800.705.8350

DOWN PAYMENT ASSISTANCE Lender Listings Sponsored by Lenderlab.com Buyers Assistance

888-901-5715

www.buyers-assistance.com

PayoutOne

800-945-2495

www.payoutone.com

Partners In Charity

800-705-8350

www.partnersincharity.org

Purchase Pros

877-323-4929

www.thepurchasepros.com

REVERSE MORTGAGES Premium Listings

Indymac Bank 866.690.2160

Industry-leading suite of FHA HECM products, including a Fixed Rate HECM product! Loan amounts available up to the FHA county lending imit. Available to individuals age 62 and older on primary residences only. Easy-to-use origination software and customer support to help brokers grow their business

World Alliance Financial

Reverse Mortgage opportunity for non-FHA licensed brokers

877.692.7762 Ext 404 REVERSE MORTGAGES Lender Listings Sponsored by Lenderlab.com Arlington Capital Mortgage Corp

800-814-9432

www.acmcwholesale.com

Wells Fargo Reverse Mortgage

800-336-7359

Commercial Mortgages 101 (cml)

800-763-3036

www.commercialmortgages101.com

Silvergate Bank (cml)

858-362-6300

Countrywide Bank

866-212-4378

www.silvergatebank.com

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consumers, as defined by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to each lender’s information on products, program, procedures, representations, and warranties for details.

July 2008

The strength to embrace a tough economy WE ARE HIRING PROS ACROSS AMERICA ….. 100% Payouts> 50 State Platform> Close Fast ..... 1 Person MOM and POP shops to 50 L.O. Shops PICK YOUR LENDER > OVER 100 TO CHOOSE FROM • • • • • •

FHA and VA Loans (All) JUMBO- Agency, FHA & VA SUBPRIME SIVA ALT-A COMMERCIAL

Liberty One is dedicated in providing you the tools and marketing programs to help bring you to next level in this CRAZY world we find ourselves. Our goal is to help you double or triple your current production levels. HOW? Take a look at some of the benefits LISTED BELOW •

Across America Lending Platform in all 50 States

•

Real Estate Partner Program *New

•

Volume Incentive? Referral Bonus? Yes we PAY them!

•

Low Flat fee per ﬁle. No Games here.

•

New Lead Programs and 12 Touch program.

Email:branchopenings@libertyone.com or call our Branch Recruiting Staff at 301-979-9494 NOW

WE ARE ACTIVELY SEEKING GREAT LOAN OPPORTUNITIES • Loans from $1 Million • From 50% LTV on liquidation value – no construction loans • Nationwide and international (Mexico, Bahamas, Canada, etc.) • Rates start at 15%

* Land - Commercial & Residential * Commercial Properties Oﬃce, Warehouse, Retail, Multi-Family * Alternative Assets - Consumer Receivables, Gas & Oil Leases, Secured Notes, Stock, Art * Marinas

Please email a summary of your request to Gardy Bloemers at gardybloemers@angloﬁnancial.com or cell 434 981 1017 or Tom Finnegan at tomﬁnnegan@gmail.com or cell 512 657 9310

Anglo-American Financial LLC 675 Berkmar Court, Charlottesville, VA 22901 www.anglofinancial.com

Anglo-American

Your Investment Leaders

Hard Money Loans from $100,000 to $1,500,000 •Minimum Credit 400 •No seasoning

•No up front fees •48 hour closing

ALL LOANS FOR BUSINESS OR INVESTMENT PURPOSES ONLY For an immediate online approval and commitment letter, go to WWW.FMV1.COM and ﬁll out our loan qualiﬁer

Can’t find your way through the financial labyrinth? First Mount Vernon will lead you through!

First Mount Vernon loans are ideal for owners who: •Do not qualify with traditional lending sources

•Need to close quickly •Need construction or rehab funds •Are at risk of losing a property •Can’t provide full documentation

YOU ARE HERE

•Need an immediate answer

6019 Tower Cour t, Alexandria, VA 22304 Phone: 703-823-6800 or 866-908-FMV1 (3681) Fa x: 703-997-2499 Paul Fogle or Ar t Bennet t First Mount Vernon is a privately-owned, equity-based lender which specializes in lending to borrowers who can’t secure funding from traditional ﬁnancing sources. Loans typically funded within two business days upon receipt of completed package. First Mount Vernon does not make consumer loans. Financing is for business or investment purposes only, secured by real property.

LENDER & RESOURCE DIRECTORY

Gardy Bloemers: 434.981.1017 [e] gardybloemers@anglofinancial.com Tom Finnegan: 512.657.9310 [e] tomfinnegan@gmail.com AcuPen FINANCIAL, LLC The Premier One-Stop Commercial Mortgage HUB www.acupenfinancial.com

AdvancedMe, INC. www.amibrokerprogram.com 600 TownPark Lane Kennesaw, GA 30144 Contact: Tina Vaughn [phone] 866.490.0488 [fax] 678.564.3067 [e] brokerinfo@advanceme.com

AgriCap Financial corporation www.agricap.com 350 S. Figueroa Street, Suite 501 Contact: Sales [phone] 213.542.5232 [fax] 213.687.8333 [e] sales@agricap.com

a la mode, inc. www.alamode.com

AMBIT FUNDING www.ambitfunding.com 24 South River Street Wilkes-Barre, PA 18702 Contact: Chris Bednar [phone] 570.829.2101 or 800.823.7101 [fax] 570.824.9844 [e] loans@ambitfunding.com

America one finance www.americaonefinance.com Contact: Matt Simmons [phone] 425.641.4658 x117 [e] matt@americaonefinance.com Anglo-American Financial www.anglofinancial.com 675 Berkmar Court

July 2008

ASCENT HOME LOANS, INC. www.ascenthomeloans.com 6465 S. Greenwood Plaza Blvd. Englewood, CO 80111 [phone] 866.467.3157 ext. 2605

ASSet funding group www.assetfundinggroup.com 100 S. Jackson Street Denver, CO 80206 Contact: Loan Submission [phone] 866.398.8916 [fax] 720.889.1177 [e] loans@assetfundinggroup.com

AVATAR financial group www.avatarfinancial.com 100 Wall Street Seattle, WA 98121 Contact: Allison Payne, Loan Analyst [phone] 888.896.0083 [fax] 206.728.5993 [e] loans@avatarfinancial.com

best rate referrals www.bestratereferrals.com [phone] 800.811.1402

camb www.cambweb.com [phone] 916.448.8236

credit plus inc. www.creditplus.com 31550 Winterplace Pkwy Salisbury, MD 21804

[phone] 800.258.3488 [fax] 800.258.3287 [e] beyondbundled@creditplus.com

emigrant mortgage company www.emigrantmortgage.com 7 Westchester Plaza Elmsford, NY 10523 [phone] 1.800.emigrant ext "mid-atlantic" Contact: Terry Auth [e] AuthT@emigrantmortgage.com

Fairview Commercial Lending www.fairviewlending.com 1932 North Druid Hills Road Suite 250 Atlanta, GA 30319 [phone] 866.634.1270 [fax] 404.634.0319

First Mount Vernon I.L.A. www.FMV1.com 6019 Tower Court Alexandria, VA 22304 [phone] 703.823.6800 [fax] 703.997.2499

grant america program www.fhadpa.com 7824 Cessna Ave Gaithersburg, MD 20879 Contact: Peggy Stanly [phone] 240.780.3333 [fax] 202.521.9507 [e] stanley@fhadpa.com

gregory funding llc www.gregoryfunding.com 425 NW 10th Ave. Suite 307 Portland, OR 97209 [e] info@gregoryfunding.com [phone] 888.324.3578 [fax] 503.226.4699

LENDER & RESOURCE DIRECTORY

imperial capital bank www.imperialcapitalbank.com [phone] 888.886.3580

IndyMac Bank www.indymacb2b.com 3465 East Foothill Boulevard Pasadena, CA 91107 [phone] 866.419.4639

irwin home equity www.ihepartners.com 12677 Alcosta Blvd., Suite 500 [e] wholesalelending@ihe.com [phone] 888.524.7946

lansdowne mortgage www.lansdownemortgage.com 5901 SW 74 St., Suite 310 South Miami, FL 33143 [phone] 305.740.9988 [fax] 305.740.9987 [e] info@lansdownemortgage.com

liberty one [phone] 301.979.9494 [e] branchopenings@liberyone.com ljl funding www.ljlfunding.com 8880 Rio San Diego Dr #500 San Diego, CA 92108 Contact: Jeffrey Arnold [phone] 888.456.0246 [fax] 866.586.7210 [e] jarnold@ljlfunding.com

LoanAce www.loanace.com [e] info@teravendo.com

M & J loans, llc www.gcfunding.com 1135 Heatherstone Drive Fredericksburg, VA 22407 Contact: John Berardino [phone] 540.548.1001 ext. 104 [fax] 540.548.1117

madison credit management services llc www.madisoncredit.com 907 Pleasent Valley Ave Suite 6 Contact: Roger Castile [e] info@madisoncredit.com [phone] 856.866.9878 ext. 4320 [fax] 775.288.3834 manaseh, epharim & associates www.meandassociates.com 5932 Hugh Howell Rd. Suite 109 Stone Mountain, GA 30087 Contact: R.D. Walker [e] info@meandassociates.com [phone] 678.387.3230 [fax] 678.302.6444

Weston, FL 33326 Contact: Mitchell Chapman [phone] 954.495.4791 [fax] 954.793.4411

ocean capital www.oceancapitalonline.com 2 Altieri Way Warwick, RI 02886 Contact: Christina Agonia [e] information@oceancapitalonline.com [phone] 877.337.3757 [fax] 401.739.9711 partners in charity www.partnersincharity.com 613 W. Main West Dundee, IL 60118 Contact: Charles Konkus [phone] 800.705.8350 [fax] 800.514.9848 [e] info@partnersincharity.com

metro funding corp www.metrofundingcorp.com One Kalisa Way, Suite 310 Paramus, NJ 07652 Contact: Jennifer Smith [e] jennifer@metrofundingcorp.com [phone] 866.302.6360 [fax] 201.262.6910

remington financial group, inc. www.remingtonfg.com 8761 E. Bell Rd Suite 103 Scottsdale, AZ 85260 Contact: Aaron Enright [phone] 480.905.3239 [fax] 480.314.3745 [e] apply@remingtonfg.com

miner capital funding, llc www.minercapitalfunding.com 144 Winchester Place Fairview Heights, IL 62208 [e] orlando@minercapitalfunding.com [phone] 702.466.8952 [fax] 314.667.3092

www.settlementbiz.com [phone] 877.392.4940

MYFHA.net www.myfha.net/mortgageleads Contact: John Scott Smith [phone] 866.77.MyFHA (866.776.9342) [fax] 518.713.9207 [e] jssmith@myfha.us

national business finance www.nationalbusinessfinance.com 16891 Crestview Lane

training pro www.trainingpro.com Contact: Lance Cassell, VP Sales and Business Development [phone] 800.789.7897

trilogy commercial lending www.trilogycl.com 2611 Technology Dr. Suite 210 [phone] 888.875.5055 [fax] 407.523.6946 [e] info@trilogycl.com

continued on next page TheNicheReport.com

LENDER & RESOURCE DIRECTORY

unifund financial group inc. www.unifundinc.com 3694 Midway Drive, Suite B Contact: Tyson Hempel [phone] 619.987.1083 [fax] 619.923.3190 [e] tyson@unifundloan.com

V12 GRoup www.dmaleads.com 5215 NW 33rd Avenue Contact: Mike Giambattista [phone] 561.807.6909 [fax] 877.984.9401 [e] mgiambattista@v12group.com

world alliance financial www.worldalliancefinancial.com 3 Huntington Quadrangle, Suite 303N Melville, NY 11747

LENDERLAB SEARCH POWER

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LENDERLAB.COM (800) 339-1863

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