My name is Glen Weinberg. I am one of the founders of Fairview Commercial Lending. I graduated from IU with a triple major in finance, operations management, and finance information systems. I have worked for 3 fortune 100 companies in various roles from operations finance, mergers and acquisitions, and finance information systems. I also assisted in the CH11 reorganization of a small high tech company. I have been published in The Scotsman’s Guide, The Mortgage Press, The Niche Report, and the Colorado Real Estate Journal. I have also trained brokers in hard money lending at the Mortgage brokers forum in Las Vegas, and will be speaking in Orlando 3/25 on hard money lending at and NAMB training session for mortgage brokers on hard money lending. I have been investing in real estate since the early 90s as well as extending private notes on real estate.
For many years various partners and I were extending private loans to individuals throughout the southeast secured by commercial real estate. A need was recognized that there was a void in private lending nationwide. There were folks with stated/light doc programs (Interbay, SilverHill, Lehman Brothers, Metwest, etc…) and then there were very expensive hard money commercial lenders. The stated programs had minimum credit scores in the mid/high 600s. The expensive hard money lenders had large upfront fees (many times >10k) and commonly practiced the art of bait and switch to collect these large upfront fees.
The concept of Fairview Commercial Lending was designed to fit between the stated lenders and the expensive hard money lenders. Fairview’s market focus is on individuals (or companies) that need money quickly without upfront fees, bait and switch games, or a very high credit score. Fairview recognizes that various circumstances can lead to impaired credit and is able to look past the credit blemishes and understand the true story behind the transaction.
I decided to start this blog for various reasons:1) Answer questions/any misconceptions about hard money commercial lending (no-doc lending, private commercial lending, etc…)2) Discuss items impacting the valuation of commercial lending (I underwrite hundreds of commercial real estate loan proposals a month)3) Discuss issues impacting the non-prime commercial arena (securitizations, etc..). If there are any topics, questions, etc… that you would like to see please e-mail them to email@example.com
Regards… Glen Weinberg