RAINMAKER UNDERWRITING, LLC 281.537.1200

Home
Commercial Underwriting
Syndicated Financing
Private Placements
Financial Business Plans
Due Diligence Services
Market Studies
Quick Site Reviews
Financial Feasibility Studies
Search Engine Optimization
Senior Housing Consulting
Projects & Clients
 

 

Mortgage Brokers, Brokerage Services, Fundings & Financings...

Welcome to the commercial mortgage brokers information page on the Rainmaker Underwriting web server.  Here you mortgage brokers, bankers, investment, commercial, real estate, construction will find information pertaining to the qualification and selection process for commercial mortgage brokers.  Rainmaker Underwriting has received a lot of complaints regarding commercial mortgage brokers and brokerage firms that routinely fail to make a placement for a client.  Upon closer inspection, we find that one of the following has occurred: 

The borrower/client has not provided a complete due diligence presentation to the underwriter; and/or

The application requirements have not been fulfilled; and/or

The application is fundamentally flawed; and/or

The broker is not a loan correspondent for any institutional investor, hedge fund, insurance company, etc. - they are just a broker who fires a shotgun blast to see if the deal will go.  These firms tend to rely upon application fees to make a profit and should be studiously ignored.

The last issue is one of the biggest issues impacting the commercial real estate development finance market today.  A quick web search and the developer picks the firm with the lowest up-front costs and lets things go at that - much to their future woe!

Brokers who shotgun blast your application all over the web are doing you no big favors.  In point of fact, they may be making things worse because nobody wants to work on underwriting a transaction that has been previewed to hundreds or potential lenders, so they set it aside (can it).  Not a good outcome.

Your best bet is always to work with a firm that has a formal loan correspondent relationship with a bank, insurance company, hedge fund or whatever.  If they say they have a correspondent relationship ask who it is with.  You are entitled to know.  If they refuse to disclose, tell them you will not work with them because they will not disclose.  If they do disclose, then call the entity and talk to the general counsel or chief financial officer of the company.  These people would be in the best position to access the data required to validate the relationship.

Rainmaker's rule of thumb is to work with mortgage bankers and/or investment bankers because these firms have ready access to institutions that can fund the kind of loans you are looking to obtain.

Finally, have you considered what might be accomplished if you had more equity in the transaction... more equity as early as the pre-construction phase?  It's time you found out what can be done.  If your project has a development budget (or acquisition cost, as the case may be) of at least $7.5 million, you need to talk to Rainmaker about how you can dramatically increase your financial investment leverage without creating more risk.

What Goes Into An Underwriting?

The Rainmaker approach is truly a comprehensive assessment with 66 exhibits collected on every project that cover every aspect of the development, construction, operations and regulatory matters.  Collateral, credit and capacity underwriting reviews are conducted using CREFC underwriting standards in addition to a complete default risk analysis on term, maturity and technical default risk profiles.  Our typical underwriting report on a new construction project will easily exceed 500 pages and catalogue all transaction documents, plans and specifications.

Rainmaker Underwriting, LLC can trace its history back all the way to 1989.  Incorporated in 1993, Rainmaker Marketing Corporation evolved over time into a full-service business to business consulting firm.  Rainmaker Marketing Corporation’s initial specialization was in issues and documentation needs corresponding to the capital funding cycle for commercial real estate development projects with a primary focus on senior housing and health care related properties.  Today, Rainmaker Underwriting, LLC serves all types of commercial income-producing property development program financing requests with a combination of feasibility studies, due diligence services, structured finance consulting and a focus on commercial underwriting review services.  Rainmaker Underwriting, LLC’s service area includes all of the continental United States, Canada, Mexico and the Caribbean Basin.

281.537.1200

Email: clinton.lovell@rainmakerunderwriting.com

Project Feasibility Studies, Commercial Real Estate Development Finance, Outsourced Underwriting Services, Due Diligence Documentation & Project Management Consulting

6706 Pebble Beach Drive, Houston, Texas 77069.

©Copyright 2014, Rainmaker Underwriting, LLC  All rights reserved.