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hmetcalf
268 Posts |
 Posted - 06/30/2008 : 10:08:34 AM
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I am in the middle of a commerial loan. My buyer is on the fence becasue he has never heard of the lender I found. I dont blame him, but I have few options available as it is no doc at 75%.
I am trying to somehow validate this lender. They are based out of Fort Lee NJ. If you google it, it just comes up with an address. I am trying to somehow prove to my borrower that they are real, and to myself. Please, any feedback is appreciated. |
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mdiclemente
986 Posts |
Posted - 06/30/2008 : 10:11:40 AM
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What is the name of the lender?
Have you considering flying out to meet them face to face? |
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hmetcalf
268 Posts |
Posted - 06/30/2008 : 10:16:43 AM
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Its in the Tag, but its Cohen, Rosenberg, and Maros.
I have not considered that as of yet. If I get a lot of negative feedback, I may. But this is the only lender out of about 20 that I shopped it with that will do it.
Thank You |
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mdiclemente
986 Posts |
Posted - 06/30/2008 : 11:00:39 AM
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I tried googling the information in the tag and couldn't find a lender.
quote:
Originally posted by hmetcalf
Its in the Tag, but its Cohen, Rosenberg, and Maros.
I have not considered that as of yet. If I get a lot of negative feedback, I may. But this is the only lender out of about 20 that I shopped it with that will do it.
Thank You
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hmetcalf
268 Posts |
Posted - 06/30/2008 : 11:15:36 AM
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Mike,
I appreciate your due diligence for me. That is my big problem. You get dead ends everywhere. I actually got on google earth and located the building that the adress referenced. It was a nice building. But that is all I have to go by. I called the NJ SOS and their siteis simply sub par. To look for a business, you have to enter in the name exactly as it was registered. I entered in a few different ways and hit anotehr dead end.
Although I appreciate your time, dont spend too much on it as that is all I did on Wed and THurs last week and came up short. |
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mdiclemente
986 Posts |
Posted - 06/30/2008 : 11:48:52 AM
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Are they charging an up-front fee?
It sounds like the best option would be to fly out there and meet face to face.
I would suggest posting the general scenario here and see if anyone can recommend another lender.
quote:
Originally posted by hmetcalf
Mike,
I appreciate your due diligence for me. That is my big problem. You get dead ends everywhere. I actually got on google earth and located the building that the adress referenced. It was a nice building. But that is all I have to go by. I called the NJ SOS and their siteis simply sub par. To look for a business, you have to enter in the name exactly as it was registered. I entered in a few different ways and hit anotehr dead end.
Although I appreciate your time, dont spend too much on it as that is all I did on Wed and THurs last week and came up short.
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erinjackson
254 Posts |
Posted - 06/30/2008 : 12:02:21 PM
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Tell them that you want to fly out to meet them face to face and see how they react. That will be a good indication. But be willing to back it up with a trip. Or find someone you know in the area to go meet them and do some due dilligence for you. If you can't find anyone, hire someone off Craigslist in that area to go and meet them at their office and at least get some data for you. You could pay someone to do it in an hour and at least find out if there is a business there. Then you wouldn't have wasted your time and money to find out that there is no such office and you aren't going to be able to get paid for the loan.
But it would probably be smart to fly out there. |
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