In our last article "5 Reasons Mortgage Brokers Should Partner with Hard Money Lenders", we
discussed why partnering with a Hard Money lender was beneficial for the Mortgage Broker. In this edition, we layout frequently asked questions Mortgage Broker's have when considering a partnership with Trust Deed Capital. Below are some of the common questions asked.

Q: Why should I choose Trust Deed Capital as my trusted Private Money Lender?

A:  Our staff is experienced in all aspects of traditional and private money lending. Additionally, we are experienced real estate investors that have bought distressed properties through trustee sales, short sales, and REOs. We fund loans using our own money. We make the underwriting decisions and can move quickly when we need to.

Q: What is a “Letter-of-Interest”?

A:  Our letter of interest simply spells out the amount we would be willing to lend to your borrower and the exact terms of the loan. It is not a loan approval and funding is still subject to final documentation verification.

Q: What fees do I need to quote to my borrowers?

A:  Our letter of interest will spell out our origination fees and an all-inclusive $995 lender fee. Beyond that your borrower will be responsible for all other traditional closing cost. We will assist you in estimating those costs.

Q: Are there any upfront fees to my borrowers?

A:  The only possible up-front fee to your borrower would be to pay the appraisal fee direct to the appraiser.

Q: What if I already have a credit report on the borrowers?

A:  As long as the credit report is not over 90 days old and from a nationally recognized provider we can most likely use that report.

Q: What if I already have an appraisal on the property?

A:  We would you to provide that appraisal to us. However, we would still need to do our own sight inspection and an appraisal review.

Q: If I bring a borrower to Trust Deed Capital, how do I get paid?

A:  We will agree on your fees prior to completing the Letter of Interest to the borrower. Your fees will then be paid to your broker of record direct through escrow upon closing the loan.

Q: What license do I need to originate a private money loan?

A:  You must be a DRE licensed salesperson working for a California Real Estate Broker. Subject to executing our Broker Agreement, we will pay your fee to your broker/company. (See our agreement under broker documents).

Q: Does Trust Deed Capital offer any training on loan programs, processes, or marketing?

A:  Yes, upon request, we will come to your company and explain our programs, processes, and various marketing techniques. Simply give us a call at (949) 481-3266.