MARKET UPDATE BLOG
Correspondent Corner
September 21, 2017

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 $3-30 million
  • Lends Nationally in major markets
  • Typical loan terms are 3-25 years
  • 25-30 year amortizations are typical. Interest only is available for low leveraged transactions.
  • Non-recourse with carve outs
  • Interest rates from 3.50-4.25% for 20 year fixed terms
  • Focused on 4 primary property types (retail, industrial, office, and multi-family), but will consider special use
  • Strong sponsorship is required
  • Yield maintenance prepayment penalties, but can structure step-down with additional interest rate add-on
  • Rate lock at application for up to 90 days
  • Preference for low leverage transactions
  • Forward commitments available for up to 12 months