Loan Officer Gustan Cho
Loan OfficerForum Replies Created
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John, depends on the type of commercial loan. Equipment financing is just a two page application and sake day funding. Just like a credit card application. $500 million dollars hotel, it can be five months of hard work. In general, commercial loans are hands down easier.
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Here is the link to the article from One News Network about Texas biggest tax cut in history. This is a MUST READ:
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Yes, why waste time? HUD requires safety, security, and habitable. If they are reading the home inspection report, the home inspector has all of these written on his report. The loan officer should never order appraisal until the home inspection report has been thoroughly comberd through page by page.
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You can do a 1031 exchange on investment properties. Owner occupant homes, there is no tax consequences on capital appreciation.
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Alex Carlucci contacted HUD about the borrower being able to qualify for FHA loans one year into a Chapter 13 Bankruptcy repayment plan. HUD specialist said it should be no problem but on the HUD 4000.1 FHA Handbook, it does not state that you can or you cannot do it. Therefore, the HUD specialist will escalate it to upper management to get confirmation. The team at Gustan Cho Associates has done literally hundreds of these in the past 10 years and never had an underwriter question this. The underwriting manager at EPM or Equity Prime Mortgage agrees with Alex Carlucci that is should not be a problem but the underwriter who is underwriting this file is the first underwriter that is bringing this up. Good underwriter and great point to get this cleared up now.
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John,
It is a platform long needed in this industry but requires leadership, dedication, sacrifice, vision, focus, and teamwork. Need everything to make you a top producer in one platform. Training, guidance, CRM, lead generation, tools and systems, third party partner network, social media, articles, FAQs, Videos, Recruitment, Online Message Board, e-commerce site and network, and resource center
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We are going to launvh our commercial lending network platform within a few wewks
It is http://www.lendingnetwork.org -
John, feel free to chime in on this thread and talk about the CRM systems, FORUMS, recruiting, social media, Facebook, Twitter, Linkedln, and all the other good stuff.
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