[securedloans4u]

I would like to be your #1 resource for all of your hard to fund deals that own property. Our specialty is loans secured by property with monthly payments funded in 7-10 business days with no appraisals needed.

Here are some details on the secured programs:
• Can have 5+ existing MCA Loans
• We can accept clients with NSF’s or negative days – can have 20+ per month
• We have very few industry restrictions
• Low credit score’s ok
• MCA Lender defaults – Ok with us!
• Startup Companies are Accepted as well

4 Unique points worth mentioning:
1. We can do a non-profit as long as there is a principal that will be a personal guarantor
2. We can offer up to 100% LTV for select clients that qualify
3. We can offer a 30 yr term for select clients that qualify


Recent Fundings:
- 500k using their commercial and residential property, no appraisal, funded in 5 days – now this client is able to open his second sushi restaurant
- 400k using their property, no appraisal, funded in 7 days – now this client is able to start her new business
- 750k using their commercial property to pay off existing tax liens and clean up the business - This is for a Non Profit Organization

Expected terms:
- Monthly payment
- 2 yrs IO, 5 yrs P&I, 10-30 yrs P&I
- Risk factors will determine terms and pricing
- Lower rates compared to MCA products
- Typically larger approvals
- Some programs are interest only and some are principal and interest
- Some programs can be a 2nd position loan and others have to be in 1st position
- Most programs do not require strong monthly income for the business and can also be used for start ups and acquisitions
- Some programs don’t require appraisals


Feel free to contact me at your earliest convenience with any questions


Thank you,

Ben Corey
Funding Manager
714-495-2186
ben@usacapitalco.com

[Mynameisbob]

Are you guys licensed to do that?

[securedloans4u]

Are you guys licensed to do that?

I represent a group that has all of the licenses needed to provide these options for your clients.

Did you have a deal you need me to help you with?

[Mynameisbob]

Maybe. I need more information. What bank do you use?

[Davincinc]

I represent a group that has all of the licenses needed to provide these options for your clients.

Did you have a deal you need me to help you with?

what rates? and what do you charge on points and what do you pay your iso's?

[securedloans4u]

Maybe. I need more information. What bank do you use?

Most of the deals I am able to get done are through private investors - not banks

feel free to email me or call me for more info or I would be happy to answer all of your questions here for everyone to see...

[securedloans4u]

what rates? and what do you charge on points and what do you pay your iso's?

Typical rates are 8-12%

Total closing fees range from 10-15% depending on the program the client qualifies for - you will receive 4% of funded amount for all deals that are not discounted to win the deal.

If we need to discount the closing fees then lender fees are still the same but we match each point to point that you take off

I hope this helps you with your question

[Mynameisbob]

Are you charging clients 10-15% on the hud statements?

[Jstarr]

He wont be around long, not to worry - people dont understand that you cannot engage in offering mortgages against ones primary residence or take part in the negotiation of the loan against ones primary residence without proper licenses, And I know this because we are a direct lender and have spent thousands of dollars to stay compliant .

So this guy is violation of something called Dodd Frank,

In very general terms, if the loan will be secured by a property that the borrower will use for residential purposes, then the person who arranges the loan is defined as a “loan originator,” and must have a mortgage originator license. Seller-financers must be licensed mortgage originators unless they qualify for one of the two exceptions, which will be discussed below.

The Dodd-Frank Act defines mortgage originators as “any person who for direct or indirect compensation or gain or in the expectation of direct or indirect compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.” Please note there are different definitions and rules under various Federal and State laws that apply to mortgage loan originators, and they are very difficult to comprehend and reconcile with each other. The loan originator rules under the Dodd-Frank Act, however, require that said persons be licensed, are subject to certain restrictions on compensation, and must comply with vague guidelines on proving the borrower’s ability to repay.

What happens if there is a violation of the Dodd-Frank Act and other related laws?

The penalties are very harsh if there is a violation of the various federal requirements, including the Dodd-Frank Act, the SAFE Act, RESPA, and the Truth In Lending Act, in that there could be a private right to sue for violations and to be reimbursed attorneys’ fees and costs, penalties of up to $4,000.00 to $5,000.00 per day at a minimum, $25,000.00 for reckless violations, and $1,000,000.00 per day for knowing violations. There could also be actions against the violator such as rescission or reformation of contract, refund of borrower costs, return of interest paid, return of real property, restitution, disgorgement or compensation for unjust enrichment, private damages, other monetary relief, and other relief currently undefined.

And How will he get caught, well, we will find out shortly. (advertising without proper llicenses, closing disclosure once he gets paid on a transaction etc...)


.. HMM, He's lending up to $750,000 and cant spend $500 on a website.... pathetic.

Untitled.jpg

Are you guys licensed to do that?

[securedloans4u]

He wont be around long, not to worry - people dont understand that you cannot engage in offering mortgages against ones primary residence or take part in the negotiation of the loan against ones primary residence without proper licenses, And I know this because we are a direct lender and have spent thousands of dollars to stay compliant .

So this guy is violation of something called Dodd Frank,

In very general terms, if the loan will be secured by a property that the borrower will use for residential purposes, then the person who arranges the loan is defined as a “loan originator,” and must have a mortgage originator license. Seller-financers must be licensed mortgage originators unless they qualify for one of the two exceptions, which will be discussed below.

The Dodd-Frank Act defines mortgage originators as “any person who for direct or indirect compensation or gain or in the expectation of direct or indirect compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.” Please note there are different definitions and rules under various Federal and State laws that apply to mortgage loan originators, and they are very difficult to comprehend and reconcile with each other. The loan originator rules under the Dodd-Frank Act, however, require that said persons be licensed, are subject to certain restrictions on compensation, and must comply with vague guidelines on proving the borrower’s ability to repay.

What happens if there is a violation of the Dodd-Frank Act and other related laws?

The penalties are very harsh if there is a violation of the various federal requirements, including the Dodd-Frank Act, the SAFE Act, RESPA, and the Truth In Lending Act, in that there could be a private right to sue for violations and to be reimbursed attorneys’ fees and costs, penalties of up to $4,000.00 to $5,000.00 per day at a minimum, $25,000.00 for reckless violations, and $1,000,000.00 per day for knowing violations. There could also be actions against the violator such as rescission or reformation of contract, refund of borrower costs, return of interest paid, return of real property, restitution, disgorgement or compensation for unjust enrichment, private damages, other monetary relief, and other relief currently undefined.

And How will he get caught, well, we will find out shortly. (advertising without proper llicenses, closing disclosure once he gets paid on a transaction etc...)


.. HMM, He's lending up to $750,000 and cant spend $500 on a website.... pathetic.

Untitled.jpg

I appreciate your feedback however these are structured as business loans secured by real estate which the Dodd-Frank Act does not apply to.

[securedloans4u]

Are you charging clients 10-15% on the hud statements?

Some of the programs have the points built-in and some of them are a separate fee agreement.

[Jstarr]

Righttttt.... same thing WBL does, but your first mistake is they are " Owner Occupied" and it doesnt matter how they are structured - you need to learn the law before you end up in jail...

I appreciate your feedback however these are structured as business loans secured by real estate which the Dodd-Frank Act does not apply to.

[WestCoastFunding]

Righttttt.... same thing WBL does, but your first mistake is they are " Owner Occupied" and it doesnt matter how they are structured - you need to learn the law before you end up in jail...

I say put him in jail. Gotta love the brand new brokers that sign up with WBL and then come on here pushing it likes it’s a revolutionary product no other broker knows of.

[abfunders]

https://www.linkedin.com/in/bencoreyuscap

It was silly for Ben to come onto the forum without a website, but at least he's got a Linkedin. Worked for WBL once upon a time, and 12-14% rates aren't WBL's sweet spot....
10-15% closing fees are way too high for a regular hard money loan.

Ben, you got some 'splainin' to do.....

[securedloans4u]

https://www.linkedin.com/in/bencoreyuscap

It was silly for Ben to come onto the forum without a website, but at least he's got a Linkedin. Worked for WBL once upon a time, and 12-14% rates aren't WBL's sweet spot....
10-15% closing fees are way too high for a regular hard money loan.

Ben, you got some 'splainin' to do.....

With the exception of my Investment Group that I have access to private investors, the secured lenders that I use are the same lenders that anybody else can use. I simply offer my services as a resource to MCA Brokers that don't have the time, resources, or energy to spend on secured loans

Yes I worked at WBL for a few years and learned a lot and I refuse to work with them any longer so no the solutions I'm able to offer through my lending sources have nothing to do with WBL

The closing fees need to cover the lender fees the lender sources, referring broker and my commission so that is what's covered in the 10% to 15% depending on the program

I will never claim to be the best or least expensive option out there however I'm able to get certain deals done in some scenarios that others can't or don't want to spend the time trying to find a resource for it

Regarding the website, I guess I'm a little old school because I prefer to actually speak with someone and if they see value in our conversation then we continue to work together if not then that is up to them... anybody can have a website

I hope this helps with the few concerns that I've seen up to this point and thank you for your time and feedback

[Mynameisbob]

So, if I refer a client to you they would have to pay a lending resource fee, lender fee, referal broker fee, plus your fee? So if I do a million dollar re-fi with you, and my client owns the property free and clear, I’m gonna have to explain to him that there is going to be a 100k to 150k outside closing fee when more than likely the client won’t see more than .075 in fees on his hud statement?

[Jstarr]

Mynameisbob,i hope your not presenting this option to anyone, obviously this guy is very new and doesn't realize that the industry standard on Conforming and non QM is 2%... Period, doesn't matter the source.

So, the client that I’m referring to you has to pay a lending resource fee, lender fee, referal broker fee, plus your fee? So if I do a million dollar re-fi with you, and my client owns the property free and clear, I’m gonna have to explain to him that there is going to be a 100k to 150k outside closing fee when more than likely the client won’t see more than .075 in fees on his hud statement?

[securedloans4u]

I would like to be your #1 resource for all of your hard to fund deals that own property. Our specialty is loans secured by property with monthly payments funded in 7-10 business days with no appraisals needed.

Here are some details on the secured programs:
• Can have 5+ existing MCA Loans
• We can accept clients with NSF’s or negative days – can have 20+ per month
• We have very few industry restrictions
• Low credit score’s ok
• MCA Lender defaults – Ok with us!
• Startup Companies are Accepted as well

4 Unique points worth mentioning:
1. We can do a non-profit as long as there is a principal that will be a personal guarantor
2. We can offer up to 100% LTV for select clients that qualify
3. We can offer a 30 yr term for select clients that qualify


Recent Fundings:
- 500k using their commercial and residential property, no appraisal, funded in 5 days – now this client is able to open his second sushi restaurant
- 400k using their property, no appraisal, funded in 7 days – now this client is able to start her new business
- 750k using their commercial property to pay off existing tax liens and clean up the business - This is for a Non Profit Organization

Expected terms:
- Monthly payment
- 2 yrs IO, 5 yrs P&I, 10-30 yrs P&I
- Risk factors will determine terms and pricing
- Lower rates compared to MCA products
- Typically larger approvals
- Some programs are interest only and some are principal and interest
- Some programs can be a 2nd position loan and others have to be in 1st position
- Most programs do not require strong monthly income for the business and can also be used for start ups and acquisitions
- Some programs don’t require appraisals


Feel free to contact me at your earliest convenience with any questions


Thank you,

Ben Corey
Funding Manager
714-495-2186
ben@usacapitalco.com

In 2018 I funded over 20 Loans with over 3 mm worth of funding which helped a lot of businesses with their funding needs. I look forward to a huge 2019.

If you have any deals you need help with then let me know