List of Portfolio Lenders?

[Charles Mullins]

Hi everyone, does anyone know where I can find a list of portfolio lenders?  Is there an easy way to tell by looking at the bank?  I reached out to a couple, but they sale their loans.  Correct me if I'm wrong, but I believe I heard a portfolio lender is one that keeps their loan versus selling, can have a shorter or no seasoning period, and you can typically have more than 6 or 10 loans with them.  <= going by memory here.  

Thanks follow BPers!

[Stephanie P.]

@Charles Mullins

If you go with an LLC, that's a game changer. You won't be considered for a residential loan and the financing will become commercial; higher interest rate and not as favorable terms.

Portfolio can mean many different things.  

@Upen Patel is right when he wrote "Portfolio is a general term to cover a big group of lenders that do loans that fall outside the agency guidelines."  @Alan G. is also right when he describes the local banks that hold their loans and another definition that some call a "blanket" or "portfolio" where there's more than one loan covered in the loan.  Like I said, there are many definitions for the same word.

Until you get a bunch of properties and you need to worry about the tax implications of co-mingling funds, keep the properties in your personal name.  If you're worried about liability, get an umbrella liability policy.  Much cheaper and easier.

Best of luck

Stephanie