From Flyover Cou
58 Posts |
 Posted - 03/06/2008 : 07:23:48 AM
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Last night, Kevin was kind of enough to give us a heads up that Lehman Wholesale Commercial has closed.
In fact, that one very small division that deals only with large producing commercial brokers has shifted these operations to another division--Lehman Brothers Small Business Finance, which is open, operating, and holding their national sales convention next week.
In the Lehman world, Lehman considered wholesale as dealing only with large volume commercial producers. Lehman considers their division, Small Business Finance, as their retail division, but in fact to the rest of the world it is not--it is wholesale.
Lehman Brothers Small Business Finance--the folks who have all the ads in both editions of Scotsman Guide, has a number of representatives situated in most of the major markets in the USA. However, to the mortgage brokerage community, these people function as wholesale AE's as that is who you call to run scenario's for your clients, submit packages to--to have them processed internally at Lehmans, and who you work with to see that the deal YOU ORIGINATED is closed and funded.
The reason I am sharing this information is that myself and my company, LandAmerica Commercial Services, works very closely with Lehman Brothers Small Business Finance and we are still processing orders and closing loans for them. I personally have spoken with the Local VP here in KCMO this morning and he is hard at work.
If you have any questions or would like more information, please email me at jchampion@landam.com
John Champion
LandAmerica Commercial Services
816-221-2223 |
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