[Tom Miller]

Lending Network, LLC http://www.lendingnetwork.org is a wholly-owned subsidiary of Gustan Cho Associates and is the business and commercial lending division of Gustan Cho Associates. I created a detailed post for GCA Mortgage Forums, optimized with these main goals in mind:

Engagement:

• The post uses a press release style, which helps make announcements feel exciting and interesting from the start.
• I added several questions to encourage people to join the conversation.
• I invited the community to share feedback and ask questions.
• I also encouraged others to consider partnering with us.

SEO:

• I made sure to use target key phrases throughout the post.
• The post is long-form (2532 words), which can help it rank higher in search results.
• I included different versions of the main keywords to improve SEO.
• There is an option to link to gustancho.com within the post.
• I added several hashtags to help with sharing on social media platforms.

Educational:

• Each product is described in detail.
• I included comparison tables to make the information easier to review quickly.
• I have explained the steps I took as clearly as possible. I included both the advantages and the benefits.

Calls to Action:

• I provided several ways for people to get in touch.
• There is information about special promotions launched just for this post.
• I encouraged members and others to reply and join in.
• I included a way for people to make referrals.

Professionalism:

• I have included the NMLS license number for transparency, etc.
• I explained how the integration strategy works.
• All required compliance disclaimers are included.

You can share this on http://www.gcaforums.com to:

1. Announce the launch of the commercial division and its release.
2. Start generating leads from the current community.
3. Build thought leadership.
4. Drive traffic to https://www.gustancho.com.
5. Build referral partnerships.

gcaforums.com

Great Content Authority FORUMS and Sub-Forums Activities

Great Content Authority FORUMS activities in an online community to share ideas, ask questions, and connect with like-minded individuals.

[Tom Miller]

I will start searching for recent information about wholesale commercial lenders that partner with mortgage brokers, especially with your NEXA Mortgage setup. I will begin searching for brokers that specialize in wholesale commercial and business loan funding: I will begin searching for brokers that specialize in wholesale commercial funding and commercial broker networks: I will begin searching for commercial lenders that facilitate funding for brokers. From the information I obtain, I will formulate a complete list of wholesale commercial lenders and broker-accessible lenders for your perusal. I will say, given that you are exclusively operating a commercial lending division within NEXA Mortgage, you should realize that **commercial and business lending is fundamentally different** from residential wholesale lending, which is the majority of lenders I located initially.

## **BROKER-FRIENDLY COMMERCIAL LENDERS: COMPLETE LIST**

### **Specific Lenders: Hotel/Motel Brokering**

1. **Select Commercial Funding**

– Financing for motel/hotel businesses

– Loans begin at: $1.5M

– 90% LTV possible

– Seasonal properties are accepted.

– Rate/term refinance and cash-out available.

– Collaborates with brokers.

2. **Commercial Real Estate Loans (Janover)**

– Hotel funding starts at 1M

– LTV at 75%

– 30-year amortization

– Broker friendly

3. **CREFCOA (Commercial Real Estate Finance Company of America)**

– Online commercial lending (CRELP)

– Flagged and unflagged hotels

– All 50 states

– Broker access

4. **Largo Capital (Hospitality Finance Group)**

– Funding with life insurance and CMBS

– Financing more than $1B for hotels

– Network of correspondent lenders

– Broker friendly

5. **Clopton Capital**

– Commercial mortgage brokerage at a national level (service as correspondent too)

– Financing for hotels

– CMBS, SBA, bridge, mezzanine

– Partners with other brokers

6. **Commercial Loan Direct**

– Mortgages for hotels and hospitality sectors

– Access to multiple lenders

– Conventional, CMBS, and SBA programs

7. **First Capital Trust Deeds (FCTD)**

– Bridges/hard money loans for hotels

– Terms of 12 to 36 months

– Lending across the country, based in California

– Private funding

– Broker focused

### **CMBS Lenders (Usually Broker-Friendly)**

8 ** Big CMBS Lenders/Platform: **

**Goldman Sachs**

**JP Morgan**

**Deutsche Bank**

**Morgan Stanley**

**Wells Fargo (CMBS division)**

**Argentic**

**Square Mile Capital**

**Ready Capital**

**Greystone**

**Note**: Most CMBS lenders work through correspondence or brokers.

### \*\*Life Insurance Companies\*\* (Some Work Through Brokers/Correspondents)

9. \*\*Major Life Companies:\*\*

**MetLife**

**Prudential**

**Principal**

**Mass Mutual**

**New York Life**

**John Hancock**

*Many require correspondent relationships.*

### \*\*Commercial Banks With Broker Programs\*\*

10. **Stearns Bank**

– **National reach**

– **Referral partner program**

– **SBA Preferred Lender**

– **Commercial real estate**

– **Works with brokers, CPAs, professionals**

11. **KeyBank Commercial Mortgage**

– **National platform**

– **Works with correspondents**

12. **Regions Bank**

– **Commercial lending division**

– **Broker referrals accepted**

### \*\*Alternative/Private Lenders (Very Broker-Friendly)\*\*

13. **eCapital**

– **Asset-based lending**

– **Working Capital**

– **Commercial Finance**

– **Dedicated Broker Partnership Program**

– **AR Finan\cing, factoring, supply chain**

14. **GoKapital**

– **Business loans, merchant cash advances**

– **Commercial mortgages, hard money**

– **SBA loans**

– **ISO/Broker program with up to 6% commission**

– **Multiple loan products**

15. **Vaster (Florida-Focused)**

– **Bridge loans, private money**

– **Up to 65% LTV**

– **No broker package required**

– **10-day closings**

16. **AVANA Capital**

– Community development focus

– Broker partnership program

– SBA 504 specialist

### **SBA Lenders (Broker-Friendly)**

17. **Live Oak Bank**

– Broker referrals

– Hospitality/hotel sector

– SBA 7(a) and 504

18. **CDC Small Business Finance**

– SBA 504 specialist

– Collaborates with brokers

19. **Other SBA Preferred Lenders**

– Too many to count and most take broker referrals

### **Debt Funds & Alternative Capital**

20. **Private Debt Funds**

– Brookfield

– Blackstone

– KKR Real Estate

– Starwood Capital

*Almost always work through brokers or placement agents*

### **Commercial Loan Broker Platforms & Networks**

21. **Commercial Loan Broker Association (CLBA)**

– Annual conference

– Lender networking

– Access to over 75 lenders

– **This is an important resource for you**

22. **CommLoan**

– Commercial mortgage marketplace

– Platform that connects brokers to over 650 lenders

23. **LoanStream Commercial**

– Commercial loan offerings

– Works with mortgage brokers

– TPO (Third Party Originator) focused

—

## **IMPORTANT NOTE FOR YOUR COMMERCIAL DIVISION**

### **Navigating the Commercial Landscape**

1. **Commercial =/= Residential Wholesale**

– Rather than true wholesale commercial lenders (UWM, Newfi, LoanStream residential, etc.) wholesale residential lenders do not do commercial loans

– Commercial lending is a different beast, much of the business is done through:

– Direct lender relationships

– Correspondent arrangements

– Brokers/referrals

– Split commissions (excluding yield spread)

2. **Models of compensation**

– **Origination fees** are generally 1-3% of loan amount (either builder or paid by borrower)

– **Referral fees** range from 0.5 to 1% from lender

– **Some lenders** operate on a 25-50% commission split

– **Working capital/MCA** can go up to 3-6% or more commissions

3. **Considerations on licensing**

– Residential is covered by your NMLS

– In the majority of the states, Commercial loans are NMLS license exempt

– Still, some states require a commercial broker license

– Especially check requirements for Texas

4. **Getting Started**

**Option A: Enroll in CLBA (Commercial Loan Broker Association)**

– pay the annual fee

– Gain lender access

– Training and conferences

– This will grant you credibility and valuable lender contacts

**Option B: Cultivate Direct Relationships**

– Reach out to lenders on the list above

– Many operate formal broker programs

**Option C: Enroll in a Commercial Loan Broker Training Program**

– Commercial Loan Broker Institute

– Alternative Funding Partners

– Training includes lender introductions

### **Specific Action Plan for Your Hotel/Motel Deal**:

**Next Steps:**

1. **Contact These Lenders** (Best for Your Deal):

– **Select Commercial Funding** – broker friendly, and hotel/motel friendly

– **Largo Capital** – specialists in hospitality- **CREFCOA** – Simple broker access through an online portal.

– **Commercial Loan Direct** – Focused on brokers.

2. **Building Your Broker Package:**

– Construct a submission in a professional manner (refer to the checklist I shared).

– Broker contact details and commission structure should be included.

– The commercial space values the professionalism of the package.

3. **If the Size of the Deal Is Appropriate, Think About:**

– **CMBS if the loan >$3M** – Reach out to Greystone, Argentic, Ready Capital.

– **SBA if owner-occupied** – Live Oak Bank, local SBA loan providers.

– **Private/Bridge if urgent** – FCTD, Vaster (if in FL).

4. **Enroll in CLBA Right Away:**

– Instant access to 75+ lenders.

– Connect with seasoned commercial brokers.

– Learn.

– Enhanced standing.

### **Resources Specific to Texas:**

– **Strong Regional Banks in Texas** that finance hotels:

– Frost Bank (Commercial Division)

– Texas Capital Bank

– Comerica Bank Texas

– Independent Bank

– Most of them give broker referrals, especially after a few deals.

### **Goals for NEXA Commercial Division in the Long Run:**

1. **Expand Your Lender Network:**

– Avoid depending on a couple of lenders.

– Establish ties within all segments.

– Different lenders should be used for various deal types.

2. **Initial Specialization:**

– You spoke of the expertise in the multifamily.

– How about you concentrate on just multifamily and hospitality?

– Position yourself as the preferred broker for these types of properties.

3. **Construct Your Framework:**

– CRM specific to commercial deals (as opposed to residential)

– Dealership documentation templates

– Tools for understating analysis

– Promotional materials

4. **Engage Your Network:**

– CLBA membership

– Commerical real estate networking

– Relationships with commercial real estate brokers for referring

– Don’t forget the CPAs and lawyers

### **Key Differences:**

**Residential Wholesale (What NEXA primarily does):**

– UWM, Newfi, LoanStream, etc.

– Staples with the rate sheets, LPAs, and AU

– TAT, productivity, ADD

– YSP pricing

**Commercial Wholesale/Broker (What you’re building):**

– You have to do this component of the business- it is relation based

– Deals get custom quotes

– It takes longer

– Compensation is origination fee based

– Deals are custom

– Average turn times are 45-75 days

—

Would you like me to:

1. Would you like me to find more specific lender contacts for any of these?

2. Help me develop a strategy for the broker

3. Find Texas commercial lenders instead?

4. Help me with templates on how to submit commercial loans?

It is important to know that **commercial lending is a relationship business**, and you’ll have to understand how to connect with individual lenders. Joining CLBA will provide you with the quickest way to connect with multiple lenders.

[Tom Miller]

I appreciate your detailed background – your multifamily experience will definitely translate to hotel/motel financing, though there are some important distinctions. Let me walk you through a comprehensive process for this hotel/motel commercial loan.

Key Differences: Hotels/Motels vs. Multifamily

Before diving into the process, understand that hotel/motel financing is generally considered higher risk than multifamily because:

• Revenue depends on transient occupancy (daily/weekly) vs. lease agreements
• More operational complexity and management-intensive
• Higher sensitivity to economic cycles and local market conditions
• Lenders often require hospitality industry experience from borrowers

Step-by-Step Documentation & Process

Phase 1: Initial Information Gathering

Start with a detailed borrower/property intake to qualify the deal:

1. Property Details

   • Property address and legal description
   • Number of rooms/suites
   • Property type (limited service, full service, extended stay, budget, etc.)
   • Brand affiliation (franchise like Holiday Inn, Best Western) or independent
   • Age of property and condition
   • Recent renovations or capital improvements
   • Property management (owner-operated vs. third-party)

2. Current Financing Information

   • Existing loan balance
   • Current interest rate and terms
   • Maturity date
   • Prepayment penalties (critical for refinance timing)
   • Current lender name

3. Loan Request Specifics

   • Desired loan amount
   • Rate and term goals
   • Recourse vs. non-recourse preference
   • Desired amortization period
   • Cash-out needs (if any, though you mentioned rate/term)

Phase 2: Core Documentation Package

You’re on the right track with your multifamily docs. Here’s what you’ll need for hotel/motel:

Financial Documents:

1. Property Operating Statements (last 3 years)

   • Trailing 12-month P&L (most recent)
   • Year-to-date P&L
   • Previous 2-3 years annual statements
   • Key metrics lenders scrutinize:
     • Revenue Per Available Room (RevPAR)
     • Average Daily Rate (ADR)
     • Occupancy percentage
     • GOP (Gross Operating Profit)
     • NOI (Net Operating Income)

2. Smith Travel Research (STR) Report

   • This is critical for hotel financing (not needed in multifamily)
   • Shows competitive set performance
   • Market penetration index
   • Demonstrates how property performs vs. comparable hotels
   • Most lenders will require this or order it themselves

3. Rent Roll (if applicable)

   • For extended-stay properties with monthly tenants
   • Less relevant for traditional transient hotels

4. Tax Returns (Property and Personal)

   • Last 3 years property tax returns
   • Borrower’s personal tax returns (last 2-3 years)
   • Business entity returns if held in LLC/Corp

5. Current Profit & Loss Statement

   • Month-to-date and YTD
   • Should match operating format (use USALI – Uniform System of Accounts for the Lodging Industry if possible)

Borrower Financial Strength:

6. Personal Financial Statement (PFS)

   • Complete balance sheet
   • Liquid assets highlighted
   • Net worth calculation

7. Schedule of Real Estate Owned (SREO)

   • All properties owned by borrower
   • Current values, loans, NOI for each
   • Overall portfolio performance

8. Bank Statements

   • Personal: last 3-6 months
   • Business: last 3-6 months
   • Demonstrates liquidity and reserves

Property Documentation:

9. Property Information Package

   • Property photos (exterior, interior, rooms, amenities)
   • Site plan/survey
   • Floor plans
   • List of furniture, fixtures & equipment (FF&E)
   • FF&E reserve account information

10. Franchise Agreement (if applicable)

    • Copy of franchise agreement
    • Franchise fees and royalty structure
    • Performance requirements
    • Term remaining on franchise

11. Environmental Reports

    • Phase I Environmental (may need to be updated)
    • Any Phase II if issues were identified

12. Property Condition Report/Engineering Report

    • Recent inspection report
    • Capital needs assessment
    • Deferred maintenance items

13. Appraisal (most recent)

    • Many lenders will order new appraisal
    • Having recent one helps with initial underwriting

14. Insurance Documentation

    • Current property insurance declarations
    • Liability coverage
    • Business interruption insurance

Supporting Documentation:

15. Market Analysis

    • Competitive property analysis
    • Local market occupancy trends
    • Tourism/business travel statistics for area
    • Economic development in region

16. Narrative/Executive Summary

    • History of property ownership
    • Improvements made
    • Operational strategies
    • Market position
    • Why refinance makes sense now
    • Borrower’s hospitality experience

17. Management Company Information (if third-party managed)

    • Management agreement
    • Company background
    • Track record with similar properties

Phase 3: Underwriting Preparation

Calculate Key Metrics for Lenders:

1. Debt Service Coverage Ratio (DSCR)

   • Hotel lenders typically want 1.35-1.50+ DSCR
   • Formula: NOI ÷ Annual Debt Service
   • This is typically higher than multifamily (1.20-1.25)

2. Loan-to-Value (LTV)

   • Hotels typically max at 60-70% LTV (vs. 75-80% multifamily)
   • Lower LTV reflects higher risk profile

3. Debt Yield

   • NOI ÷ Loan Amount
   • Lenders typically want 10-12%+ debt yield for hotels

4. Operating Metrics:

   • Occupancy % (60%+ is generally healthy, but market-dependent)
   • ADR trends (increasing is positive)
   • RevPAR growth
   • Compare to STR competitive set

Red Flags to Address Proactively:

• Declining occupancy or ADR trends
• Deferred maintenance
• Franchise issues or loss of franchise
• High debt yield requirements
• Limited hospitality experience
• Market oversupply

Phase 4: Lender Selection & Shopping

Types of Lenders for Hotel/Motel Financing:

1. Regional/Community Banks

   • Often best for smaller hotels ($2M-$10M loans)
   • Relationship-driven
   • May offer recourse loans with better terms
   • Some work with brokers, many prefer direct

2. SBA 504/7(a) Loans

   • Can be excellent for owner-occupied hotels
   • Lower down payment requirements
   • Longer amortization
   • Many brokers work with SBA preferred lenders

3. CMBS Lenders (Conduit)

   • Larger loans ($3M-$5M minimum typically)
   • Non-recourse
   • Stricter underwriting
   • Broker-friendly
   • More commoditized pricing

4. Life Insurance Companies

   • Larger, stabilized properties
   • Best rates for premium properties
   • High barriers to entry
   • Some work through correspondents/brokers

5. Debt Funds/Private Lenders

   • More flexible underwriting
   • Higher rates
   • Shorter terms
   • Bridge/transitional situations
   • Very broker-friendly

6. Fannie Mae/Freddie Mac

   • Generally don’t finance traditional hotels
   • May consider extended-stay with long-term leases
   • Check eligibility carefully

Broker-Friendly Lenders (as of my knowledge):

Note: I should search for current lender information since relationships and programs change frequently. Would you like me to search for currently active broker-friendly commercial hotel lenders?

General categories to explore:

• CMBS platforms: Argentic, Square Mile Capital, Ready Capital, Greystone
• Commercial mortgage brokers can access: KeyBank, Berkadia, Walker & Dunlop, CBRE Capital Markets
• Correspondent networks: Check if your company has existing relationships
• Regional banks in Texas: Smaller Texas banks may be competitive for in-state properties

Phase 5: Submission & Underwriting Process

Initial Submission:

1. Create comprehensive loan summary/submission package:

   • Executive summary (1-2 pages)
   • Borrower background & experience
   • Property overview & history
   • Market analysis summary
   • Financial highlights (3-year trend)
   • Loan request specifics
   • Key metrics (DSCR, LTV, Debt Yield)

2. Submit to 3-5 lenders initially

   • Mix of lender types based on deal profile
   • Include all core documentation
   • Set expectations on timeline (45-60 days typical)

Term Sheet Stage:

3. Review proposals for:

   • Interest rate (fixed vs. floating)
   • Amortization period
   • Loan term
   • Prepayment penalties (critical for refinance)
   • Recourse vs. non-recourse
   • Closing costs and fees
   • Reserve requirements (FF&E, real estate taxes, insurance)
   • Financial covenants
   • Guarantor requirements

4. Negotiate best terms

   • Don’t just focus on rate – prepayment flexibility matters
   • Understand total cost (fees, reserves, etc.)

Due Diligence Phase:

5. Lender will order:

   • New appraisal (borrower typically pays)
   • Updated Phase I Environmental
   • Property Condition Assessment (PCA)
   • Title work
   • Insurance review

6. Additional requests:

   • Respond promptly to lender questions
   • Provide updated financials if requested
   • Address any concerns from third-party reports

Phase 6: Closing

• Attorney review of loan documents
• Final conditions cleared
• Funding/recording
• Typical timeline: 45-75 days from application to closing

Critical Success Factors for Winning the Deal

1. Move Quickly on Information

   • Get complete documentation package assembled ASAP
   • Incomplete submissions delay everything

2. Present a Professional Package

   • Use your executive summary template
   • Clear, organized financial presentation
   • Highlight strengths, address weaknesses proactively

3. Leverage Your Experience

   • Your commercial real estate background is valuable
   • Emphasize property management expertise
   • Show understanding of cash flow analysis

4. Understand the Hotel-Specific Metrics

   • Learn to speak the language (RevPAR, ADR, STR reports)
   • Lenders will test your knowledge

5. Set Realistic Expectations with Borrower

   • Hotels typically get less leverage than multifamily
   • Rates may be 50-100 bps higher than multifamily
   • More reserves required

6. Borrower’s Hospitality Experience Matters

   • If limited, address how property is managed
   • Third-party professional management helps

Additional Considerations

Texas-Specific:

• No state income tax (positive for investors)
• Strong tourism markets (Austin, San Antonio, Houston, DFW)
• Check if property is in opportunity zone or special district
• Texas homestead laws don’t apply to commercial, but know local market

Rate Shopping Strategy:

• Cast wide net initially
• Focus negotiation with top 2-3 respondents
• Use competing offers as leverage
• Watch for “best efforts” vs. “committed” terms

Your Role as Broker:

• You’re the quarterback – manage the process
• Communicate frequently with borrower
• Prepare them for lender questions
• Help interpret term sheets
• Guide toward best overall deal, not just lowest rate

Questions to Ask Your Borrower

Before you start shopping:

1. What’s driving the refinance now? (Rate savings, cash out, loan maturity?)
2. How long do they plan to hold the property?
3. What’s their prepayment flexibility needs?
4. Recourse tolerance?
5. Are there any pending franchise issues?
6. Any deferred maintenance or upcoming capital needs?
7. Management changes planned?
8. How is current year trending vs. last year?

Would you like me to search for specific current broker-friendly hotel lenders, create a sample executive summary template, or dive deeper into any particular aspect of this process?

https://www.lendingnetwork.org

lendingnetwork.org

Home - Lending Network, LLC

COMMERCIAL LOANS, COMMERCIAL REAL ESTATE

[Tom Miller]

Why do Democrats want illegal immigrants and provide them with jobs, Healthcare, education, and the right to vote?

[Tom Miller]

Federal agents have launched Operation Midway Blitz — a major law-enforcement surge across Chicago aimed at stopping violent attacks, vehicle-ramming incidents, and threats against federal officers. This multi-agency operation brings together DHS, ICE, CBP, FBI, and ATF units working in joint task forces around the Brighton Park and Broadview areas. Agents are targeting suspects linked to assaults on federal property, online leaking, and organized anti-federal activity.

https://youtu.be/l0IzuT5CgFc?si=-uZpDBQFILKt4o9N

[Tom Miller]

Orange County, Florida – Sheriff’s deputies deal with yet another police impersonator, this time in the form of an ICE Agent trying to arrest people at an apartment complex. This is one of the more bizarre police impersonator encounters we’ve seen.

The content shown on this channel is meant to provide insight into the daily interactions law enforcement have with the public, both good and bad. All suspects are considered innocent until proven guilty.

https://youtu.be/EyUp5UaqsMQ?si=CawCq1M4hdaXq156

[Tom Miller]

Attorney General Pam Bondi was caught off guard Thursday when President Donald Trump’s handpicked US attorney, Lindsey Halligan, secured New York Attorney General Letitia James’ indictment from a grand jury, two sources familiar with what happened told CNN. CNN’s Kristen Holmes reports.

https://youtu.be/hMhk5gkII5c?si=v1ZbBwjkxAK-DHHQ

[Tom Miller]

Influential Breaking News Report: October 9, 2025

One of the Federal Reserve’s most prominent actions in an effort to calm a sensitive housing market is simultaneously easing the penalty of increasing mortgage rates by halting interest rate increases during this volatile period. This move will, at least, relieve some pain for homebuyers and homeowners with mortgages. This move likely embraces the distaste lawmakers and economists alike have expressed regarding the Fed’s failure to stem the agony of rising mortgage rates.

Recent history exhibits the perpetually climbing rates of mortgage spending. This concerns lawmakers, economists, and homebuyers. The current rate for a fixed thirty-year mortgage is a 30-year fixed mortgage, and, as a rule of thumb, it is more difficult for buyers to obtain a market home. The expectation is that at least the smallest adjustment to the Federal Reserve will diminish homebuyers’ anxiety. Enough of the burden will be lifted to decrease the mortgage rate. The Fed’s decision is bound to ease some of this anxiety and pressure.

The Immigration and Customs Enforcement Agency (ICE) has been under fire for its growing activities in the so-called blue areas. Reports suggest that there has been a spike in arrests and deportations carried out by ICE in metropolitan areas. This has led to lawsuits and protests by immigrant advocacy organizations and local governments, claiming that these activities are community-invasive and trust-breaking with local law enforcement.

ICE friction with local law enforcement is boiling in several cities, with some urban mayors and state governors publicly critiquing what they view as “engineered and boneheaded” law enforcement. This also seems to be the case with some federal lawmakers who are demanding a congressional investigation into area-specific ICE operations.

Gold and Silver Surge Business News Update: Alameda’s Financial Editor, Recent Issue Uploaded, 05/24/16

Something fun to track over time is how precious metals are treated in the market. For example, gold last week raised a flag of its own, and the spot price for an ounce of gold was hovering around the four thousand and thirty dollars region. The craze is due to gold’s new streak of seemingly unending potential. People in the investment world were buying gold like there was a never-ending supply. What could help that theory is that some are saying there’s a war between interests in the upper echelons of the world, and a demand for the precious metals market supernova.

There was continuing interest in stocks and the buying frenzy, with the market dipping heavily last week. Monday observed the bulk and tally of week-ending in crossing over the new gold price. The selling off of government bonds is followed by the weakening of the dollar, which causes an unstable outlook, which also has to do with other financial elements returning to the shift of world money.

All in all, the country’s top news continues to be the attempts to tame the housing market, the ICE and blue city standoffs, and the soaring precious metal prices, all within the context of a tumultuous but sturdy stock market.

[Tom Miller]

I will find the most recent info on wholesale commercial lenders working with mortgage brokers, especially those compatible with your model at NEXA Mortgage. Let me look for wholesale commercial and business loan brokers. Now, I will check for specific wholesale lenders and commercial broker networks. I will look for niche wholesale commercial lenders for brokers. I will be able to create an actionable list of wholesale commercial lenders, including broker-friendly lenders. However, since you are focused on operating a commercial lending division within NEXA Mortgage, you must be aware that **commercial/business lending is fundamentally different** from residential wholesale lending, which most of the lenders from my first round of research fall under.

LIST OF BROKER-FRIENDLY LENDERS IN COMMERCIAL FINANCING IN DETAIL

Brokers with Hotel/Motel Financing Specialization

Select Commercial Funding

– Specializes in hotel/motel financing

– Minimum loan of $1.5M

– LTVs of up to 90%

– Financing available for seasonal properties

– Both refinance & cash-out available

– Broker collaboration

Commercial Real Estate Loans (Janover)

– Financing for hotel loans commencing from 1M dollars

– Maximum of $1M in LTV

– 30-year amortization

– Broker-friendly service

CREFCOA (Commercial Real Estate Finance Company of America)

– Financing on flagged and non-flagged hotels

– Financing available in all 50 states

– Commercial real-estate lending platform with brokers

Largo Capital (Hospitality Finance Group)

– Relationships within CMBS and life insurance

– Over $1B in financing hotels

– Partnerships with correspondent lenders

– Broker collaboration

5. **Clopton Capital**

– Acts as a correspondent; a national broker for commercial mortgages

– Financing for hotels is a specialization

– CMBS, SBA, bridge, mezzanine

– Partnerships with other brokers

Commercial Loan Direct

– Mortgages in hotels and hospitality

– Access to multiple lenders

– Standard, CMBS, SBA, and other programs available

First Capital Trust Deeds (FCTD)

– Finances hotels with hard money/bridge loans

– Loan terms of 12-36 months

– Based in California, lends nationwide

– Uses private capital

– Models business with a focus on brokers

CMBS Lenders (Usually Broker-Friendly)

Major CMBS Lenders/Platforms

Here is a consolidated list of businesses specializing in capital and commercial real estate, along with some additional information regarding their operations.

Goldman Sachs

JP Morgan

Deutsche Bank

Morgan Stanley

Wells Fargo (CMBS division)

Argentic

Square Mile Capital

Ready Capital

Greystone (Plus some CMBS Lenders)

Life Insurance Companies (Brokers/Correspondents)

Major Life Companies

– MetLife

– Prudential

– Principal

– Mass Mutual

– New York Life

– John Hancock

Commercial Banks With Broker Programs

Stearns Bank

– National reach

– Referral partner program

– SBA Preferred Lender

– Commercial real estate

– Works with brokers, CPAs, and other professionals

KeyBank Commercial Mortgage

– National platform

– Works with correspondents

Regions Bank

– Commercial lending division

– Broker referrals accepted

Alternative/Private Lenders (Very Broker Friendly)

eCapital

– Asset-based lending

– Working capital

– Commercial finance

– Dedicated broker partnership program

– Accounts Receivable financing, factoring, and supply chain

GoKapital

– Business loans and merchant cash advances

– Commercial mortgages and hard money

– SBA loans

– ISO/Broker program with up to 6% commission

– A variety of loan products

Vaster (Florida-focused)

– Bridge loans and private money

– 65% LTV

– No broker packet requirement

– 10-day closing

AVANA Capital

– Community development interest

– Broker partnership program

– SBA 504 specialist

SBA Lenders (Broker-Friendly)

Live Oak Bank

– Broker referrals

– Hotel/hospitality experience

– SBA 7(a) and 504

**CDC Small Business Finance**

– SBA 504 specialist

– Works with brokers

Various SBA Preferred Lenders

– (too many to list, but most accept broker referrals)

Debt Funds & Alternative Capital

Various Private Debt Funds

– Blackstone

– Starwood Capital

– Brookfield

– KKR Real Estate

(Often work through placement agents/brokers)

Commercial Loan Broker Networks & Platforms

Commercial Loan Broker Association (CLBA)

– Annual conference

– Access to 75+ lenders

– Networking with lenders

– **This is a key resource for you**

CommLoan

– Commercial mortgage marketplace

– Platform connecting brokers with 650+ lenders

LoanStream Commercial

– Works with mortgage brokers

– TPO (Third Party Originator) focused

– Commercial loan products

Critical Points for Your Commercial Division

Understanding the Commercial Landscape:

Commercial ≠ Residential Wholesale

– The wholesale residential lenders (UWM, Newfi, LoanStream residential, etc.) do NOT do commercial loans

– Commercial lending works differently – many deals are done through:

– Direct lender relationships

– Correspondent arrangements

– Referrals and Partnerships

– Commission split, not yield spread

Compensation Structures:

Loan Origination Fees 1-3% loan amount (can be paid by borrower or included in loan pricing)

– Referral Fees: 0.5-1% from lending institution

– Some lenders: Commission splits as low as 25% and as high as 50%.

– Working Capital/MCA: Commission can be 3-6% +

3. Licensing Issues:

– NMLS license covers most residential loans.

– Most states do not require NMLS licensing for commercial loans,

– Some states do have a commercial broker license requirement.

– Be sure to check Texas requirements.

4. How to Begin

Option A: Join CLBA (Commercial Loan Broker Association)

– This is an annual fee.

– You receive access to their lender network.

– There is training, conferences and this association provides you with credibility and lender contacts.

Option B: Establish Relationships

– Reach out to lenders with the list above.

– Several have formal broker programs.

– Complete the contract to receive online access, pricing and other benefits.

Option C: Enroll in a Training Program for Commercial Loan Brokers

– Commercial Loan Broker Institute,

– Alternative Funding Partners,

– Lender introductions are provided as part of the training.

Action Steps for Your Deal with a Hotel or Motel

Next Steps:

Contact and Work with These Lenders (Best for Your Deal):

– Select Commercial Funding They mention hotels/motels and are broker-friendly.

– Largo Capital: hospitality specialists.

CREFCOA – Online platform, simple broker access

-Commercial Loan Direct- Broker-centric

Broker Package Prep:

– Build a refined submission (follow my document checklist)

– Broker contact details and commission breakdown

– Presentation quality is a huge factor in commercial

If the Size is Right, Think About:

– CMBS if loan >$3M – Greystone, Argentic, Ready Capital

– SBA if owner-occupied – Live Oak Bank, local SBA lenders

– Private/Bridge if urgent – FCTD, Vaster (if in FL)

4 Immediately Join CLBA:

– Access to 75+ lenders

– Connections to top-tier commercial brokers

– Access to courses and webinars

– Enhanced reputation

Texas-Specific Resources:

– Texas has solid regional banks** that do hotel financing:

– Frost Bank (Commercial Division)

– Texas Capital Bank

– Comerica Bank Texas

– Independent Bank

– Most do broker referrals, particularly when you make connections

### **NEXA Commercial Division Long-Term Vision:**

1. **Lender Diversity:**

– Avoid having one or two lenders that you lean on

– Make connections in every category

– Different lenders for various deal types

2. **Start Narrow to Broaden Later:**

– You spoke to multifamily speciality

– Perhaps narrow down to multifamily + hospitality

– Establish yourself as the primary broker for the specified types of property.

3. **Enhance Your Platform:**

– CRM for commercial transactions (not residential)

– Custom documentation templates

– Tools for underwriting analysis

– Marketing collateral

4. **Expand Your Network:

– CLBA Membership

– Participate in events for commercial real estate

– Network with commercial real estate brokers (potential referral partners)

– Network with accountants and lawyers

Key Differences

Residential Wholesale (What NEXA mostly does):

– UWM, Newfi, LoanStream, etc

– Standard rate sheets, LPAs, and automated underwriting

– Rapid turnarounds, increased volume

– Yield spread premium pricing

Commercial Wholesale/Broker (What you are developing):

– More relational

– Individualized quotes for each transaction

– More lengthy (45-75 days is the average)

– Commission based on an origination fee

– Every transaction is different

—

Would you like me to:

1. Look for more detailed lender contact info for any of these?

2. Assist you in developing a broker application plan?

3. Look for more commercial lenders in Texas?

4. Give you a template for your commercial loan submission packets?

The most important thing is to know that commercial lending is about the relationships – you will have to know these lenders personally. The membership for CLBA will allow you to quickly connect with many lender relationships at the same time.