All Forum Posts by: Brandon Anderson

Hi all - Doing a little research for my firm. I had a quick question:

Where will banks see a strain on capacity in the mortgage lending process?

For example - 

Originations - Underwriting- Income analysis: With individuals wanting to refinance at historically low rates, there will be an increase of documentation being sent for processing  

Servicing - Loss mitigation: More individuals submitting "hardship" or modification requests to their current terms

Where else in the process will banks see constraints or an increase in needed capacity?

Hi everyone,

Myself and 3 other friends recently started an LLC to do real estate investing. All our LLC paperwork is final and we have a business checking account. However, after speaking with our mortgage broker, he says that the mortgage must be in only one of our names. We are hesitant to do this due to the tax implications. After learning this I have a few questions for you guys:

-Is anyone here part of an LLC that does real estate investing? and how do you go about getting a mortgage?

-What are the tax implications if we get the mortgage just in one of our names, but it's funded by all members in the LLC?

We are looking to buy property in the greater Charlotte, NC area.

Thanks again for your help!