Each
Loan Will Be The Right Size, in the Right Location, and
on the Right Type of Property. No Set-Up Fees. No
Monthly Fees.
Pay
Just 37.5 to 50 Basis Points When a Deal Closes.
Do
want to close more commercial mortgage loans? If so,
joining C-Loans as a lender is a no-brainer. You will
instantly see dozens of qualified new deals every month.
Please
take a moment to view a sample
loan application.
As
you can see, you can determine in seconds if the deal is
a good one or not. If the deal is junk, you can turn
it down with just one click using our EasyReply System. If
you like the deal, you can immediately call the borrower
directly. You can also use the EasyReply System to
instantly beam the borrower a quote and a checklist of required
documents. It's all point-and-click technology.
Who
is C-Loans®? We
are the sister company of Blackburne & Brown, one
of the largest and oldest private money commercial
mortgage companies in the country. You can view our audited
financial statement. Please note that our sister
company is a $55 million direct commercial mortgage lender
itself.
"Do
internet loan applications really work?" C-Loans lenders closed 221 commercial loans for us totaling over $206 million in 2006. For a list of the hundreds of banks who have closed C-Loans deals, please click here.
"How
many loans will I get?" It depends on your lending
area. A conduit lender can expect to see at least 40
loans per month over $2 million. A bank lending nationwide
could see 20 to 30 deals a month. A mid-sized bank
lending statewide might see 15 deals per month. If
you only lend in Northeast St. Louis, you will of course
see fewer deals.
"How
much does it cost?" There is no set-up fee to
join C-Loans, nor is there is any monthly charge. Banks,
life companies, CMBS lenders and REIT's pay just 37.5 basis points
when a deal closes. Hard money lenders and mezzanine lenders pay just
50 basis points. You can easily bump your normal rate
by 25 basis points or your normal loan fee by a half-point
to cover our fee.
"Do
we have to sign an agreement?" No. We're happy
to start sending you deals immediately based only on a verbal handshake.
If for some reason you need a written agreement, you'll find one
here: http://www.c-loans.com/license.html
"Can
anybody join C-Loans as a lender?" No. You
must be a bona fide, direct lender and not a mortgage broker
in disguise. Generally you must either service your
own loans or take them down in your own name.
A
couple of minor points. We are not the borrower's mortgage
broker, nor are we your correspondents. C-Loans is just a software company. The loan applications
will come directly to you. In most cases, C-Loans will not even look at the applications. If you receive an attractive loan application, it is up to you to please call the borrower, realtor, or broker immediately.
"Okay,
let me get this straight. There is no set-up fee to
join C-Loans, nor is there any monthly fee. I only
have to pay you a tiny fee if I actually close a deal, and
I can always just bump either my rate or my loan fee a little
bit to cover your fee. This is indeed a no-brainer. What
do I do?"
Simply
call Alicia Gandy in our Sacramento office at 916-338-3232,
or if it's after hours, just send
her an email. Please include your name, company,
address, phone, fax, email address, your minimum loan, your
maximum loan, your lending area, your acceptable property
types, and your typical rates in terms. Finally, will
you also make construction loans?
Within
24 hours you should start receiving loan applications. "It's
that easy?" Yep.
Welcome
to the C-Loans® family.
George
Blackburne, III, Esq.
President
C-LOANS, INC.
1526 W. Jefferson Street
Plymouth, IN 46563
george@blackburne.com
Since 1980