R. Peirce Cook, Jr.

What to do if Denied Business Acquisition - We are the Place To Go For SBA Loans - PERIOD! We have long been known as the place to go when the banks say 'no'. WE ARE THE PLACE TO GO FOR SBA 7(a) LOANS - PERIOD! Real estate-based 7(a) loan rates start as low as Prime +1% to 2.75% with a 25-year amortization. You get a much better deal than ANY local or major bank on the SBA 7(a) product. SBA 7(a) rates starting at Prime+1.0% PLUS, we guide you through the process, helping you navigate the 7(a) waters It's simple. You can do this yourself: take the time to get your loan documents together, go to your local bank, hopefully get approved. Navigate the SBA paperwork, navigate the bank approval process, and if denied, start all over somewhere else. You will likely end up with a rate of Prime +2.75% or more IF you get approved and don't go crazy first. Or, have us do the heavy lifting, help navigate the process, get you terms in writing in 48 hours, hold your hand to the closing, AND you will likely get a BETTER RATE! WHAT? The decision is a no-brainer. Get the best service, plus help AND the best rates and costs... WHY GO ANYWHERE ELSE? We can do real estate-based deals, business-only deals, start-ups, business acquisitions, and partner buyouts. Give us a call today to discuss your commercial finance needs or get started by filling out this form! Karen Schimpf (512) 358-1511 karen@applycommercialloans.com https://lnkd.in/dtCTZXi P.S. We recently helped a trucking company that needed to close on an SBA loan but had a tight deadline of under 30 days. They wanted to close quickly on an acquisition of real estate for their business but couldn't wait for the usual SBA loan processing time. We stepped in and provided a bridge loan acquisition real estate loan, ensuring they closed on time. If you need to close fast on an SBA acquisition of real estate, give us a call at 512-358-1511! Picture

1

1 Comment

What to do if Denied Business Acquisition - We are the Place To Go For SBA Loans - PERIOD! We have long been known as the place to go when the banks say 'no'. WE ARE THE PLACE TO GO FOR SBA 7(a) LOANS - PERIOD! Real estate-based 7(a) loan rates start as low as Prime +1% to 2.75% with a 25-year amortization. You get a much better deal than ANY local or major bank on the SBA 7(a) product. SBA 7(a) rates starting at Prime+1.0% PLUS, we guide you through the process, helping you navigate the 7(a) waters It's simple. You can do this yourself: take the time to get your loan documents together, go to your local bank, hopefully get approved. Navigate the SBA paperwork, navigate the bank approval process, and if denied, start all over somewhere else. You will likely end up with a rate of Prime +2.75% or more IF you get approved and don't go crazy first. Or, have us do the heavy lifting, help navigate the process, get you terms in writing in 48 hours, hold your hand to the closing, AND you will likely get a BETTER RATE! WHAT? The decision is a no-brainer. Get the best service, plus help AND the best rates and costs... WHY GO ANYWHERE ELSE? We can do real estate-based deals, business-only deals, start-ups, business acquisitions, and partner buyouts. Give us a call today to discuss your commercial finance needs or get started by filling out this form! Karen Schimpf (512) 358-1511 karen@applycommercialloans.com https://lnkd.in/dtCTZXi P.S. We recently helped a trucking company that needed to close on an SBA loan but had a tight deadline of under 30 days. They wanted to close quickly on an acquisition of real estate for their business but couldn't wait for the usual SBA loan processing time. We stepped in and provided a bridge loan acquisition real estate loan, ensuring they closed on time. If you need to close fast on an SBA acquisition of real estate, give us a call at 512-358-1511! Picture

2

FSOC warns on liquidity risk by nonbank mortgage servicers. The FSOC report, released Friday, noted that while the nonbank mortgage servicing industry has implemented innovations in technology and mortgage default servicing, the sector as a whole is vulnerable to liquidity risk in the event of a housing market downturn, which would affect many industry players at the same time. https://lnkd.in/gcP64Jvh #mortgage

2

There's good bad news from the Mortgage Bankers Association in their Q124 Performance Report: IMBs "only" lost $645 per loan - that's a big improvement from the $2109 loss per loan in Q423. InGenius data can help you dive into your numbers and production to find out where to focus more effort for growth. #actionableintelligence #growthmultiplier #recruitright

17

TIP OF THE WEEK: Lenders and Investors in Mortgage Loans who deliver to an aggregator or GSE's as their ultimate take out, STOP trying to fight appraisal breach claims or QC finding discrepancies by going to back to the appraisers to insert comments into your origination appraisal! By doing this, you actually show that you believe there "may" have been something that was not truly sufficiently documented or reviewed/addressed at the time of origination AND most appraisers do not know how their comments will impact the decision on your QC finding and/or breach issue. These comments will never fully address the matter at hand on their own and can do more harm than good. Remember this is not the appraisers core competency. Your origination appraisal should stay AS IS in any refutation or response to a finding or breach issue. There is a material rise in claims of this nature, you are, will or have seen this. Do not do yourself a dis-service by doing this! These claims and the allegations/findings you receive/see, can be fully addressed without this. Happy to show you how. Pivot Financial LLC.

23

4 Comments

Freddie Mac - Weekly May 23, 2024 12:00 PM EDTMortgage Rates Drop Below Seven Percent (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.94 percent. “Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month,” said Sam Khater, Freddie Mac’s Chief Economist. “Although this week’s data on previously owned home sales showed a decline, total inventory of both new and existing homes is up. Greater supply coupled with the recent downward trend in rates is an encouraging sign for the housing market.” News Facts * The 30-year FRM averaged 6.94 percent as of May 23, 2024, down from last week when it averaged 7.02 percent. A year ago at this time, the 30-year FRM averaged 6.57 percent. * The 15-year FRM averaged 6.24 percent, down from last week when it averaged 6.28 percent. A year ago at this time, the 15-year FRM averaged 5.97 percent.

2

The Mortgage Bankers Association's 2023 Annual Production Report showed what the lending industry knows and has felt: Production volume was down 60% from 2021. Costs were also up: IMBs and bank mortgage subsidiaries lost an average of $1056/per loan last year, that's $755 more than 2022. It will take strategy and commitment to forge ahead as we wait for the Fed to cut rates. InGenius data can give you the insight you need! You can check out these strategies for #loanofficer recruiting in this market era here: https://lnkd.in/gdc4wHSh

41

4 Comments

Freddie Mac economists are less than optimistic in their latest outlook. "Our outlook on the mortgage origination market is also clouded by the expectation of low sale volumes. With our projection of mortgage interest rates remaining higher for longer, we anticipate modest growth in mortgage origination volumes, supported by high home prices. However, the combination of higher interest rates and limited inventory could limit purchase originations. Additionally, we expect refinance origination volumes to decline as homeowners have already secured low rates, posing potential challenge in the refinance market." https://lnkd.in/gaCmgCZm

4

1 Comment

For businesses pursuing SBA or traditional bank loans, I can’t stress enough the importance of an accurate and detailed valuation. At Sofer® Advisors, we specialize in providing these critical valuations, which not only showcase your business's financial health but also reassure lenders of your capability to manage and repay debt. Let us help you enhance your loan success and position your business for future growth and stability. https://hubs.li/Q02wqm8G0 #thevalguy #whatismybusinessworth #BusinessValuation #leadership #mentoring

12

3 Comments

Volume isn’t the issue Close Ratio Is! Here are a few simple questions to ask yourself about your companies Submit to Close Ratio. The Current Submit to Close Ratio is Now 53% according to HMDA reports, down from 65% How many loans were submitted last quarter? How many loans closed last quarter? What's your close rate (%)? 53% (Submitted divided by Closed) Increase your ratios by 10%, 15%, or More. Profitability is not a Volume issue, it’s a Close issue. Your company’s profitability is the key to success this year and for the future. It’s time to change the game and your business model. Schedule a 15 minute Executive overview by clicking this link: https://lnkd.in/gj72Aypd www.golanis.com  805-498-4843 sales@golanis.com #loans #mortgagesoftware #compliance #software

1

1 Comment

Volume isn’t the issue Close Ratio Is! Here are a few simple questions to ask yourself about your companies Submit to Close Ratio. The Current Submit to Close Ratio is Now 53% according to HMDA reports, down from 65% How many loans were submitted last quarter? How many loans closed last quarter? What's your close rate (%)? 53% (Submitted divided by Closed) Increase your ratios by 10%, 15%, or More. Profitability is not a Volume issue, it’s a Close issue. Your company’s profitability is the key to success this year and for the future. It’s time to change the game and your business model. Schedule a 15 minute Executive overview by clicking this link: https://lnkd.in/gj72Aypd www.golanis.com  805-498-4843 sales@golanis.com #loans #mortgagesoftware #compliance #software

1

Volume isn’t the issue Close Ratio Is! Here are a few simple questions to ask yourself about your companies Submit to Close Ratio. The Current Submit to Close Ratio is Now 53% according to HMDA reports, down from 65% How many loans were submitted last quarter? How many loans closed last quarter? What's your close rate (%)? 53% (Submitted divided by Closed) Increase your ratios by 10%, 15%, or More. Profitability is not a Volume issue, it’s a Close issue. Your company’s profitability is the key to success this year and for the future. It’s time to change the game and your business model. Schedule a 15 minute Executive overview by clicking this link: https://lnkd.in/gj72Aypd www.golanis.com  805-498-4843 sales@golanis.com #loans #mortgagesoftware #compliance #software #mortgagebrokers

1

Volume isn’t the issue Close Ratio Is! Here are a few simple questions to ask yourself about your companies Submit to Close Ratio. The Current Submit to Close Ratio is Now 53% according to HMDA reports, down from 65% How many loans were submitted last quarter? How many loans closed last quarter? What's your close rate (%)? 53% (Submitted divided by Closed) Increase your ratios by 10%, 15%, or More. Profitability is not a Volume issue, it’s a Close issue. Your company’s profitability is the key to success this year and for the future. It’s time to change the game and your business model. Schedule a 15 minute Executive overview by clicking this link: https://lnkd.in/gj72Aypd www.golanis.com 805-498-4843 sales@golanis.com #loans #mortgagesoftware #compliance #software

1