MARKET UPDATE BLOG
Correspondent Corner
June 15, 2017

Barry Slatt Mortgage Company would like to profile a correspondent lender program.  Having represented and serviced loans for this lender for 25+ years, we felt it would be a good idea to profile a lending source focused in the retail space during this time of perceived uncertainty in the sector.  For more information please contact your Barry Slatt Mortgage Company representative.

  • $3,000,000 – $30,000,000
  • Term loans of 10, 15, 20 and 25 years
  • Amortization up to 25-30 (single tenant – typically 5-years beyond lease term unless low LTV)
  • Rates are generally priced from 185-225 over treasury depending on term (can be lower for lower LTV fully amortized loans)
  • Usually LTV is 60-70% of market value
  • Focused on credit and larger non-credit tenants
  • Non-Recourse
  • National Territory and will look at secondary and some tertiary markets (not afraid of small markets)
  • Strong Sponsorship is a must
  • No SPE required
  • Rate lock at application for 75 days – will consider forward up to 9 months
  • Prepayment Penalty – yield-maintenance and step down available
  • Will lend on Retail, Office, Industrial and Multi-family