Conventus: Anyone Work With Them?

[Mark S.]

I'm considering a few DSCR lenders. I've narrowed it down to about 3. Conventus is one of them. I'm wondering if anyone has any experience working with them. Online reviews seem pretty good for the most part from a customer standpoint. Employee reviews about culture/working there on Glassdoor seem overall very bad having not so great things to say about management/CEO/etc. I did read a few posts on here about someone extremely angry about the servicer they supposedly use, Shellpoint.

They have been extremely communicative and responsive thus far in the early stages of agreeing to terms on the loan and seem very “eager to win this loan” and “win my business.”  While I appreciate their responsiveness on the one hand, the repeated phone call, followed by a text, followed by an email seems a bit much at times.  I even got an email from the CEO last night sort of randomly after speaking with someone at Conventus, telling me he started the firm 6 years ago, and expressing how he really wants to “win this loan.”  Again, I can appreciate it on the one hand but on the other hand, he almost sounds too excited and the whole “win this loan” thing seems a bit cheesy.  

Trying to look beyond the initial sales side of things that I’m experiencing now, I’m wondering what my experience with them might look like going through the process and beyond.  I would imagine it’s very transactional in nature like most loans, and ultimately my satisfaction (or not) will rest not with them, but with the servicer. Should I be looking more closely at the servicer?

Does anyone else find it a little odd how “hungry” they are?  Or should I just appreciate that a lender even picks up the phone in this environment because everyone is so busy?  Just trying to put things in perspective.  Thanks. 

[Mark S.]

Quote from @Michael P.:

Quote from @Mark S.:

I'm considering a few DSCR lenders. I've narrowed it down to about 3. Conventus is one of them. I'm wondering if anyone has any experience working with them. Online reviews seem pretty good for the most part from a customer standpoint. Employee reviews about culture/working there on Glassdoor seem overall very bad having not so great things to say about management/CEO/etc. I did read a few posts on here about someone extremely angry about the servicer they supposedly use, Shellpoint.

They have been extremely communicative and responsive thus far in the early stages of agreeing to terms on the loan and seem very “eager to win this loan” and “win my business.”  While I appreciate their responsiveness on the one hand, the repeated phone call, followed by a text, followed by an email seems a bit much at times.  I even got an email from the CEO last night sort of randomly after speaking with someone at Conventus, telling me he started the firm 6 years ago, and expressing how he really wants to “win this loan.”  Again, I can appreciate it on the one hand but on the other hand, he almost sounds too excited and the whole “win this loan” thing seems a bit cheesy.  

Trying to look beyond the initial sales side of things that I’m experiencing now, I’m wondering what my experience with them might look like going through the process and beyond.  I would imagine it’s very transactional in nature like most loans, and ultimately my satisfaction (or not) will rest not with them, but with the servicer. Should I be looking more closely at the servicer?

Does anyone else find it a little odd how “hungry” they are?  Or should I just appreciate that a lender even picks up the phone in this environment because everyone is so busy?  Just trying to put things in perspective.  Thanks. 

 Any update on your experience with Conventus?

Ended up closing the loan with them.  Overall really good experience.  My primary contact left not too long afterwards and started his own firm.