Correspondent Corner
March 8, 2018
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 $5-50 million
- Lends Nationally in major markets
- Typical fixed-rate loan terms are 5-30 years
- 20-30-year amortizations are available. Interest only is available for low leveraged transactions.
- Non-recourse with carve-outs
- Interest rates from 3.90-4.50% for 10-year fixed terms
- Focused on: retail, industrial, office, multi-family, and hospitality
- Strong sponsorship is required
- Rate lock at application for up to 120 days
- Forward rate locks available for up to 12 months
- Preference for low leverage transactions, but can lend up to 75% loan-to-value (LTV)