a Accepts packages from brokers/
correspondents. Call before sending.
b Only accepts packages through
approved brokers/correspondents
c Wholesale pricing available to
brokers/correspondents
d Wholesale pricing only available
to correspondents
e Wholesale pricing available to
approved brokers
f Will collect fee for brokers/
correspondents
g Par pricing available to brokers
LOAN SUBMISSION CRITERIA
COMPANY NAME
Submission
Criteria
PROPERTY TYPES
LOAN LIMITS
LOAN T YPE / PURPOSE / PARAMETERS
Minimum and maximum
loan size may not apply to
all property types and/or in
all regions and is subject to
change without notice.
1 Acquisition and development
2 Bond
3 Bridge loans
4 Business loans
5 Construction
6 Forward commitments
7 Joint ventures
8 Mezzanine
Min
$
Max
$
LTV
Max
DSCR
12345678
LOAN AMOUNT
9 Nonrecourse
10 Notes purchased
11 Purchase
12 Refinance: Cash-Out
13 Refinance: Rate and Term
14 Remodel/renovation
15 SBA loans
16 Second mortgages
17 Agricultural (ranches and farms)
18 Automotive (gas stations,
carwashes, etc.)
19 Churches
20 Hospitality (motels and hotels)
21 Industrial
22 Land
23 Leisure (golf courses, marinas,
RV parks, etc.)
24 Medical (hospitals, clinics, etc.)
25 Mixed-use properties
26 Mobile/manufactured home parks
27 Multifamily (See Multifamily matrix
for details)
28 Office buildings/complexes
29 Office condos
30 Owner-occupied businesses
31 Parking lot sites
32 Rehabilitation facilities
33 Retail (shopping centers/strip malls)
34 Self-storage
35 Single-tenant buildings
36 Special-/Single-purpose buildings
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
Union Bank
Y
YY
Y
Y
YY
Y
YYYYYYY
YYYY
714-990-7300
a,c,g
500K
5M
75
CA DC MD OR TX VA WA
Valiant Funding
Y
Y
YY
YY
YYYYY
YY
YYYYYY
YY
YYYYYYY
877-257-1602
a,b,e,f,g 250K 35M
85 1.15 NATION WIDE except: NJ NV
Rates start at 5.25%. No upfront fees. Online loan submissions. Nationwide service. Investment options.
Whitlock Capital Group
Y
YYYY
YYY
Y
YY
YYYYYYYY
YYYY
877-313-9750
a,c,e,f,g 300K 100M 90
0.5 NATIONWIDE
Tell lenders you found them in Scotsman Guide
Min$ Max$ LTV DSCR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Criteria
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product
terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
« articles »
By Stephen H. Paul
Partner
Baker & Daniels LLP
Get Real About
Tax Assessments
A property’s chain affiliation may affect its
assessed value for property-tax purposes
imaginE this scEnario: two hotEls
in the same city are of similar age, size
and construction quality. Both are located in popular areas with convenient
access to sites attractive to overnight
travelers. They’re nearly indistinguishable — hotel guests would enjoy comparably satisfying overnight stays. But
one hotel’s assessed value for property-tax purposes is materially greater
than the other. Why the difference?
There is a good chance that the hotel
with the higher assessment operates
under the flag of a recognized hotel
chain and the other does not.
Should the flagged property’s owner
face the penalty of a higher tax bill be-
cause of the flag? Uniform appraisal
standards and various state-tax au-
thorities say that it should not. After all,
tangible real property is assessed, not
intangible personal property.
The cost approach
Because this approach focuses on
costs of land and improvements, it
might appear unlikely that added
value associated with the property’s
economic activity could embellish the
continued on page 31 »
assessment. Assessors must pay close
attention to functional and economic
obsolescence that may reduce the
property’s cost value, however.
Functional obsolescence is the loss
in a property’s utility resulting from
distinctive floor plans, site designs,
or difficulty of upgrading or modifying
property for a particular use, among
other things. Flagged or chain properties often are constructed according
to designs specific to the chain. They
also often have logos and other items
that can hurt the real property’s value
because of the costs of modifying the
property for other uses.
Economic obsolescence occurs because of external factors. For chain hotels, restaurants and other businesses,
property-value reductions often come
from market-demand changes because
of a recession, changes in the public’s
Stephen H. Paul is a partner in the Indianapolis law firm of Baker & Daniels LLP, the
Indiana member of the American Property
Tax Counsel. He can be reached at stephen.
paul@bakerd.com. Paul thanks his colleague Fenton D. Strickland for his contributions to this article.
