The sale was to a large broker who in turn had presold them to 7 of his own smaller accounts.Now this is the first time he/we have done a reverse but it will be the first of many and thats where I come in.Right, I'm already fed up calling my friend ' he ' so I am taking the liberty of nicknaming him 'Davey' as I write..He'll enjoy the private humour in that.Sorry this intro is so long but hope it's some use to some of the members.My email is somewhere in the system when I signed up.Cheers, Neil P

I also found my mortgage broker at a club meeting.I just made a private money loan to a club member in another state.

Or find a buyer's broker who you like working with and have them pull up all the REOs that match what you are looking for.John Corey

I seem to be in a bit of a no-man's land looking for a lender in this range for commercial (office, retail, industrial) properties.I have been in contact with some banks, some credit unions and a commercial finance broker with limited success so far.

Obviously, in terms of the "Big Picture" there has been a crisis of secondary market confidence with regard to the enormous increase in borrower delinquencies and pending or actual forecclosures which has led to a major culling of the ranks of wholesale mortgage lenders... now probably close to 125 lenders who have closed up shop within the past 5-6 months.Actually, many of those lenders were little more than "Super Brokers" in that they relied upon warehouse credit lines or correspondent relationships with "Big Brother' lenders.It's somewhat analagous to our belief in the notion that a $100 bill is actually worth $100.

This semester I am taking Real Estate law, and next semester I will really begin to take actual Real Estate classes such as classes on appraisal, mortgage brokering and a class on Commercial Real estate.

I am really more concerned with nutso sellers claiming they were "duped" and hiring an attorney when their DTI takes a hit via a misinformed broker or a conservative lender.

John did you also see that they revoked on Broker and fined and suspended 4 more for propery management.

Its hard for me to have sympathy, just because your poor doesn't mean you can trash the place especially when we were working with them.....big mistake.Our broker wasn't too sure about disclosure to future renters.

Since Condo-Hotels (whole ownership and fractional) are considered second homes they tend to be viewed as a riskier investment from a mortgage broker's point of view.