LOAN SUBMISSION CRITERIA
DSCR
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 LIMITS
LOAN AMOUNT
Submission
Criteria
Min
$
Max
LTV
COMPANY NAME
$
Max
12345678
display
Summit Financial and Investment Group
LLC YYY YYYYY
800-649-0311 a,f 2M none 80 1.2 INTERNATIONAL
PROPERTY TYPES
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
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
YYYY
Y
YY
YYY
YYYYYYYYYYY
Outside U.S., minimum loan amount $10M
The Bank of Hemet
YYYY
Y
YY
YYYY
YYY
YYYY
800-897-9788
a,g
500K
6M
70
AZ CA NM NV OR WA
Commercial properties only
Thrift Financial Marketing
YYYYYYYYYYYYYYYY
YYYY
YYYYYYYY
YYYYY
817-509-1228
a,b,f
100K 50M
1.2 NATIONWIDE except: AK HI
We will look to service first and correspondent those files that do not fit in-house. We will do multiple
commercial deals and will focus on niche. www.thriftfm.com or michael@thriftfm.com
display
U.S. Bank - SBA Division
Y
YY
Y
YYY
Y
YY
Y
YYY
Y
888-722-3948
a
250K
5M
90 1.15 AR AZ CA CO IA ID IL IN KS KY MN MO MT ND NE NV OH OR SD TN UT WA WI WY
Y
Y
YY
Y
Y
YY
Y
YYYYYYY
YYY
714-990-7300
a,c,g
400K
5M
75
CA DC MD OR TX VA WA
Y
United Structured Finance Co.
Y
Y
Y
Y
Y
Y
YYYYY
Y
YYYY
734-926-3000
a
500K 50M
NATIONWIDE
A direct lender for SBA and USDA loans in select Michigan markets and a correspondent for all other income-producing
properties nationwide with loan amounts from $500K to $50M and up
Tell lenders you found them in Scotsman Guide
Min$ 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.
can advance about half the cost of construction and have subcontractors carry the structure to
close (i.e., subcontractors may be willing to get paid 40 percent or 45 percent of their invoices at
close). This approach may require that models be sold relatively soon after completion, but an
agreement can be made with the purchaser to show the house for a period of time after closing.
In addition, the model, although built in one subdivision, can be used to spur sales in other
nearby subdivisions in which the holder owns properties through cluster marketing. Short descriptions and pictures of the property can be posted for the subdivision in which the model
is located and for subdivisions in nearby locales, giving buyers a model to see what can be
built on those lots. This can help sell the lots. This marketing also can be used online.
•••
For holders of large portfolios of distressed lots and land, there are numer-
ous options to get rid of the properties at reasonable prices fairly quickly.
Bulk selling properties or one-off sales at fire-sale prices often is unneces-
sary and fails to yield the appropriate return. Limited seller financing, prudent
takedown relationships and subordination of lots are alternatives that must
be considered when developing a land/lot sales and marketing strategy.
Robert Steinberg is director
of TurnPoint Advisors LLC, a
boutique turnaround company
headquartered in Dallas.
Steinberg is a turnaround
professional focused on
distressed real estate, and
he previously worked as
managing director at CRG
Partners. He has spoken
nationally on distressed real
estate management assets and
was a special adviser to the
Resolution Trust Corp. in the
previous real estate recession.
Steinberg is also an attorney.
Reach him at rsteinberg@
turnpointadvisors.com.
