All Forum Posts by: Darren Huang

I started the process of a portfolio loan with Corevest and ALMOST closed with them, but due to me being a foreign (non-US) national, they were demanding a lot of things like cashflow management (all rent goes to them first, I had to ask for draws to pay for repairs), they wanted monthly reporting, and they wanted me ask my property managers to sign away their right to be paid management fee first (basically Corevest wanted to be paid before everyone else). That final request was the last straw for me - I had a 7-year working relationship with my property managers and did not want to slap them in the face by asking them to sign away their right to be paid. I walked away from the loan and refinanced with Mofin instead. The rates were higher, but Mofin was less demanding.

I recently came across a mortgage broker called Global Mortgage Group, Asia. The rates & terms they have access to seemed reasonable and I want to obtain a mortgage through them, but I can't find anything on them beyond 3 facebook reviews. I wanted to make sure they were legit before I started submitting sensitive docs to them.

Has anyone closed a loan with GMG Asia before, and what was your experience like?

Thanks!

PS I am not a US resident and hold my rental properties in entities, so I do not qualify for conventional mortgages