RAINMAKER UNDERWRITING, LLC 281.537.1200

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Commercial Mortgage Brokers - Continued...

Selecting a commercial mortgage broker to fund your commercial real estate development project is fraught with dangers.  If you are seeking a successful outcome using the commercial mortgage broker route, then make the best of it.  Here are some of our tips:

Ask for the last 10 deals the broker has completed and funded.  If the broker won't provide the information, then move on to another broker without further discussion.

Investigate the list.  Make sure it isn't a "salted" list of related companies or worse.

Ask the broker which institutions they have a correspondent agreement with.  If they say they don't have one or won't let you see it, you are dealing with the wrong broker.

Some brokers are just connected to more brokers.  Every one of them wants to be paid a point, so you end up with too many points on a deal that won't get funded.

Some brokers "shot-gun" applications to a multitude of institutional investors with whom they have no more of a relationship than you do.  Shot-gun blasts should be avoided at all costs.

Ask the questions.  Listen to the answers.  If you aren't sure, call Rainmaker Underwriting and seek the answers.  We can offer you the support and customized consulting solutions necessary to sort them all out.

What Goes Into An Underwriting?

The Rainmaker approach is truly a comprehensive assessment with 66 exhibits collected on every project that cover every aspect of the development, construction, operations and regulatory matters.  Collateral, credit and capacity underwriting reviews are conducted using CREFC underwriting standards in addition to a complete default risk analysis on term, maturity and technical default risk profiles.  Our typical underwriting report on a new construction project will easily exceed 500 pages and catalogue all transaction documents, plans and specifications.

Rainmaker Underwriting, LLC can trace its history back all the way to 1989.  Incorporated in 1993, Rainmaker Marketing Corporation evolved over time into a full-service business to business consulting firm.  Rainmaker Marketing Corporation’s initial specialization was in issues and documentation needs corresponding to the capital funding cycle for commercial real estate development projects with a primary focus on senior housing and health care related properties.  Today, Rainmaker Underwriting, LLC serves all types of commercial income-producing property development program financing requests with a combination of feasibility studies, due diligence services, structured finance consulting and a focus on commercial underwriting review services.  Rainmaker Underwriting, LLC’s service area includes all of the continental United States, Canada, Mexico and the Caribbean Basin.

281.537.1200

Email: clinton.lovell@rainmakerunderwriting.com

Project Feasibility Studies, Commercial Real Estate Development Finance, Outsourced Underwriting Services, Due Diligence Documentation & Project Management Consulting

6706 Pebble Beach Drive, Houston, Texas 77069.

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