All Forum Posts by: Shafi Noss

I live in North Bethesda and grew up in Bethesda, went to Walt Whitman highschool, not too far from Potomac. 

I live in MD, happy to connect. 

Very comfortable with single family of all types, now expanding to notes and special situations. 

For example if there's a $500k+ investor loan that falls through last minute, there's may be a rescue option that can close in days. I also like notes. 

I live in the DMV area and focus on lending. 

That's usually how it goes with lenders that struggle with spelling. 

Ram, this is an established model in Texas and land oriented states that I have direct experience with. Let me know if you would like to connect and discuss further. 

What is the legal mechanism?

Huge counterparty risk, I am just working through a scenario where a correspondent HML in the midwest got defrauded from bad diligence and their funding partner is having to clean things up. Not fun for anyone.

The other option I have not seen mentioned yet is finding a corespondent who can originate for you. Tricky to set up though. 

@Jay Hinrichs Ah, that's much more normal. You said "100% of our funds were investors" then "my capital came from bank Lines of credit NO investors", so wondered exactly how much of the 100% was replaced. 

Some guys I work with were getting 90% advance rates in Houston, but I think the banks are back to 70-80% now. Interesting about the wind-down structure, I'll look into that more. some existing HMLs that don't have cooperating banks right now and probably would be glad to have it.