Does anyone on here have any experience in starting a hard money fund and originating loans for homebuyers that cannot qualify for conventional/conforming or GSE (i.e. FHA) loans?
Beware. Dodd-Frank has made lending to owner occupant homeowners risky for lenders. If you are seeking borrowers who cannot qualify for conventional financing you may run afoul of the predatory lending rules and get the attention of the CFPB. Lending laws vary considerably from state to state. Find a local lawyer well-versed in lending and have a thorough discussion before you go too far.