[Zach]

See Zach,

Your lack of knowledge is disturbing, Stick with the MCa's

So if I send you a borrower at 50% LTV on his primary residence in California, composed of a 1st and 2nd TD, you will place a 3rd on the owner-occupied property up to 75% LTV and pay 8% commission to the broker, funding within 2 weeks? 3rd TD on primary paying 8%? No you won'

Well, Your Not lending 3 Position, And you wouldn't know this because your not involved in the lending process /title work/ Legal etc. or understanding what mortgage lenders allow subordinate loans -

Your offering a 3rd position on an MCA and attaching a LIEN Against the property

Or if I send you undeveloped land in Minnesota for a borrower with a 450 FICO score, you will lend up to 50% LTV against it and pay the broker 6%? No you won't.

I Have 16 deals on the books of Un developed land, so before you speak you need to know the facts.




Dont be ashamed because you dont understand the real estate industry or asset based lending, your only defense is to call us brokers - Ill accept that if it keeps people like yourself from calling us, see you sit behind a comfy desk and collect a check that was provided to you by WBL, and dont have a worry in the world and go home at night and drink beers with your buddies and talk about how many deals you stacked today and try to convince people that you did these huge real estate deals, I've had those employees.

We on the other hand have real business to attend to and bickering with you about an industry you pretend to be familiar with is a waste of time, especially when you put up scenarios like the one above and try to sound like an authority, and then finish it off by saying ' Your a broker stop pretending"

you need to check your references before you speak out of turn and look like a complete fool, and since your such an authority, why dont you use your resources and find out how many deals ive bought from WBL, on the other hand research some mortgage docs and find out who we are since you seem to know everything.


And to clarify - we dont look for anyone on the funder to send us deals, in fact most of the people that call us i send elsewhere - we have a vetting process and that starts with our lawyer and mortgage brokers, thats where our business comes from -

Your notes in red are disturbing, as you clearly have no understanding of what we are talking about. In another post (http://dailyfunder.com/showthread.ph...1141#post71141) you mentioned that you wouldn't do land because you had too much on the books. You lied earlier when you said "you could do all of my 7 points," when you can literally do none of them. You keep changing the subject when I directly ask you if you can do things and misrepresenting yourself. No red herring is going to save you here, Jerry.

-You don't lend against land anymore, and we do. Don't get mad at me because you couldn't manage your risk properly and had to liquidate for 50 cents on the dollar. Must have hurt losing half your investment... no wonder you're bitter.
(http://dailyfunder.com/showthread.ph...1141#post71141)

-You don't pay brokers 8%, and we do.

-You don't lend 2nd, 3rd, or 4th on owner-occupied, and we do.

-We don't do MCA's, we make loans and place a mortgage upon the RE collateral. We use notarized mortgage documents, not a purchase of future receivables. You should know that since you "bought out" so many WBL loans.

-Your comments about me personally not understanding which lenders allow subordinate liens and which don't makes little sense to me. I have set up so many intercreditor and subordination agreements these past few years I can barely see straight. I can tell you exactly who has hostile subordination clauses in their documents, and who I need to talk to there to get an intercreditor agreement signed.

-You don't even know how to lend against primary residences, and yet you say that I have a narrow understanding of real estate? Per your post, you funded against land and lost half your UPB -- I think it's clear who the more intelligent lender is here.

See?

thats a tough one, We have a tremendous amount of " Land " on our books thats why we stopped, its a hard sell, we just recently sold some at 50% UPB just to get it off our Books

Anyways, I'm done with you, I just get so sick of uninformed people who can't even use the word "you're" properly blatantly attacking us because they can't grasp what we are doing. Keep up your brokering, and leave us alone.