'Lenders' who work from home?

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MBG

257 Posts

Posted - 07/15/2008 : 07:09:50 AM

OK, I see some comments here about 'lenders,' which many are brokers, etc. But, in today's technology advancements, it is fairly easy to uncover info. regarding some of these people.

While there might be legitimate corps or LLC's with respective secretary of state, some of these actually operate from their residences. It's ok for an independent broker to operate from his/her home, but a lender?? Come on.........

Any input? Any experiences? I see the posts regarding Lionel Ellis and others, but what would you recommend for your client? Give the hefty DD Fee to a lender who can do amazing things in this economy/market and the lender operates from his residence? Geez - do they really think we are stupid?

lenderben

1080 Posts

Posted - 07/15/2008 : 07:11:59 AM

I guess its possible, but I would be weary of a lender operating from home with a hotmail email.

808

2597 Posts

Posted - 07/15/2008 : 07:29:16 AM

how could you do it and originate FHA/VA???? FHA would never let that fly unless you lived in a very rural area (the Everglades, the swamps of Louisiana, the Great Basin Desert etc). I guess you could get zoned mixed use and do it, however I'm not famaliar enough w the rules/regulations to comment on that subject.

cspatmon

2142 Posts

Posted - 07/15/2008 : 08:27:26 AM

Odd ?.....

MBG

257 Posts

Posted - 07/15/2008 : 08:37:23 AM

more along the lines of those 'hard money direct lenders.'

not residential convential lenders

austinmp

309 Posts

Posted - 07/15/2008 : 9:41:55 PM

I'd worry most about the lenders that work out of their "mobile office (van)" down by the river.