All Forum Posts by: Copelon Kirklin

Business Purpose Special

•  Minimum FICO 550
•  All Mortgages must be current at time of submission!
•  No open BK’s
•  100% No income stated or verified (leave blank on application)
•  Par or 1 Point options available with Pre Pay Protection
•  No Pre Pay options will be given to every borrower
•  Residential O/O & N/O/O – Business purpose only (AZ, CA, CO, OR, UT, WA & TX)
•  Multi-Family, Mixed use, Office & Retail (AZ, CA, CO, OR, UT, WA & TX)
•  Loan amounts from $100,000 to $1,000,000 (call for pricing if out of this range)
•  Non Fannie / Freddie approved condos – OK
•  Purchase 70% MAX – Refinance 65% MAX
•  Must be in major metropolitan area.

o If Rural or Commuter, call for pricing!

•  Property must show “pride of ownership”!!

o If Rehab or Finish Construction, call for pricing!

No “High Vacancy” factors on Commercial Properties. If property has high vacancy factor, call for pricing.

To Submit a Loan for a 4 Hour Approval:

1. Fill out submission form

2. Email the following

a. Sub form completely filled out

b. 1003 completely filled out

c. Credit report

d. Accepted purchase agreement (if a purchase)

3. You will get an approval in 4 hours or less

Promotion expires 4/17/15!!! 

MUST EXECUTE 5 DAYS AFTER APPROVAL IS ISSUED or lose special pricing!!!

@Ramon Jenkins

What's a good email and contact number for you? I'd like to speak with you if you have time. 

Although private money lending is my primary source of business, I have various colleagues in the secondary marketing industry. The offering below is through a colleague of mine who is the CEO of a note selling exchange. Contact me if you're interested in knowing more.

APRIL 2015 Note Offering:

• 100 New Low Balance Non Performing Loans.
• 20 Re-Performing & Semi Performing Loans.
• 50 Non Performing 2nd Liens.

Assets are located in the following states: 
AL, AZ, CA, CT, DE, FL, GA, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, NC, NJ, NV, NY, OH, OK, PA, RI, SC, TN, TX, WI, WV.

• Loan Level bids will be entertained with a preference for buyers buying multiple assets.
• All bids are expected to be firm and final.
• Pricing will vary based on the loan population selected, value and taxes of specific assets.
• Bids will be accepted on a first come first serve basis.
• Portfolio is available to cherry pick.

Portfolio Overview
Portfolio UPB: $6.1MM
Total Number of Loans: 170
Average Loan Size: $40,681.00
Interest Rate Weighted Average: 8.89%
Lien Position: 1st Liens and 2nd Liens
Collateral Locations: Nationwide
Collateral Type: Residential (1-4 family)

If there are any investors whose exit strategy is to refinance to pay off their hard money lender, our Stated Income Loans are a great option. Take a look at some of the highlights below...

Feel free to contact me with all scenarios.

@Laura Roper Left you a vm and sent you an email.

Below are some highlights:

- Stated Income

- Nationwide Lending

- 3 yr & 8 yr Fixed Terms w/30 yr Fully Amortized

- Purchase Money ONLY (no rehab)

- Up to 70% LTV ( 75% LTV for Mixed Use and 5+ units )

- Non Owner Residential ( 1 to 4 units )

- Commercial -- Retail, Office, Warehouse, Self-Storage, Automotive Service

- Foreign Nationals okay with U.S. Credit, Visa or Green Card and SS Card

- Loan amounts $100,000 to $5,000,000

- Rates starting as low as 6.5% (NO Lender points charged)

- No max on properties owned

- LLC's and Trusts are okay

- 650 FICO score

@James Wise 1.20 on multifamily and mixed-use, 1.25 on the rest.

Thanks for responding @James Wise 

There's no DSCR on SFRs up to $2MM.

Commercial DSCR requirement: 1.20 on multifamily and mixed-use, 1.25 on the rest.

Below are some highlights:

- Stated Income

- Nationwide (except IL, MI, MN, ND, SD & VT)

- 3 yr & 8 yr Fixed Terms w/30 yr Fully Amortized

- Purchase Money ONLY (no rehab)

- Up to 70% LTV ( 75% LTV for Mixed Use and 5+ units )

- Non Owner Residential ( 1 to 4 units )

- Commercial -- Retail, Office, Warehouse, Self-Storage, Automotive Service

- Foreign Nationals okay with U.S. Credit, Visa or Green Card and SS Card

- Loan amounts $100,000 to $5,000,000

- Rates starting as low as 6.5% (NO Lender points charged)

- No max on properties owned

- LLC's and Trusts are okay

- 650 FICO score

@Michael Lauther @Glenn Willeford I operate a private money brokerage and have had success in closing a few loans for investors with them. Their fees are on the high side as compared to others. However, you can consider it as a premium of sorts for convenience, swiftness of funding and the no income, no credit, no asset verification approach. But they are great to work with.