DSCR loan closing documents

[Erik Breunig]

Has anyone had experience with DSCR lenders who do NOT use Gerasi closing documents? I was about to close on my first DSCR loan but walked away from the closing table when presented with the note and mortgage. I found the terms to be draconian compared to those contained in other residential and even commercial loans, but my broker has told me that 80-90% of DSCR lenders use a variation of these documents prepared by the same firm and will likely have the same provisions that I find objectionable.