• October 17, 2012
  • News

 Hard Money’s Not What It Used to Be
Underwriting criteria is tightening for these loans, even as demand increases

The following is an excerpt published by Glen Weinberg (COO Fairview Lending) in the Scotsman’s Guide (a leading publication for mortgage professionals)

As  mortgage brokers know, gone are the golden days of easy underwriting and fast credit.  Many hard-money lenders are no longer in business, and most of those that remain have substantially changed their underwriting criteria. Deals that used to close are no longer fundable. What does this mean for commercial mortgage brokers that have survived thus far? Brokers who want to be successful in today’s market need to know what hard-money deals will get funded — and what won’t. It is important to understand the root causes of the turmoil in hard-money financing. There are four primary causes to
the meltdown:

Read the entire article:   Hard Money Underwriting

Learn More about the Author: Fairview Partners