Correspondent Corner

Barry Slatt Mortgage would like to profile a correspondent lender program. The following outlines one of our most competitive Life Insurance Company correspondent lenders in the market:

• Loan amounts range from $2-30 million
• Lends Nationally in major markets
• Typical loan terms are 10-20 years
• 25-30 year amortizations are typical. Interest only is available for low leveraged transactions.
• Non-recourse with carve outs
• Interest rates from 3.75-4.50% for 10 year fixed terms
• Focused on 4 primary property types: retail, industrial, office, and multi-family
• Strong sponsorship is required
• Rate lock at application for up to 90 days
• Preference for low leverage transactions, but can lend up to 75% LTV
• Flexible prepayment penalties are available (for a 10-year term, prepay is yield maintenance in loan years 1-4, followed by 5%, 4%, 3%, 2%, 0%, 0%)