I have a client who is requesting a warehouse line. The details are below. If anyone has any recommendations of a lender who does this I would be greatly appreciative. I will be happy to share in the fees if we can get it placed.
This company is seeking a "Warehouse Line" essentially to make loans to Builders. All of the loans would be Construction to Permanent. The Borrowers have credit scores of 750 or better and the LTV will be 85%.
Interest on the loans would paid upfront. It's important to note that is company is a Mortgage "Banker" and not "Broker" and is apparently seeking to operate in a "corresponding" role. The ideal capital would be approximately $15mm a month. It is also of note that the Owner of the company is a former Builder and thus, explains his connections to this field of Clients.