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Subprime Loans Disappeared? Learn How to be a Hard Money Loan Broker

Loan originators who have based their business on subprime mortgage products have been feeling the pinch in 2007. Private mortgages or hard money lending may be the solution to your problem.
Four originators gathered with three hard money lenders in our podcast.

The Lenders:

Mitch Zeichner (310) 948-2622 Mitch represents a wealthy family’s portfolio and funds real estate loans for residential properties in California, Arizona, and Nevada.

Dean Huntley (858) 759-9090 Dean is a true “trust deeds broker” and private mortgage lender. Dean represents 70 investors and funds residential and commercial real estate loans in California and Arizona.

We were joined by originators Robb Lejuwaan , Marc Brinitzer , and investor Jon Morrow.

Some important links:

HARD MONEY: Life as a Legal Loan Shark

HARD MONEY: Apartment Loans

HARD MONEY: Beware of the Brokerage Daisy Chain

HARD MONEY: Seven Tips For Borrowers

California Hard Money Lenders

California Mortgage Association

The podcast lasts some 58 minutes and has some static at 35:10 that lasts for 30 seconds. If you are a mortgage originator who is looking for a way to get some business, listen in! It works. I received a report today that an originator and lender on the call are working to fund a loan next week.

Related posts:
  • Subprime Lending Fallout Goes Upstream to Take Down Two Major Hedge Funds: What does this Mean To Real Estate Investors?
  • Ask the Mortgage Broker: How Do I Become A Hard Money Loan Broker
  • HARD MONEY: It Ain’t STUPID Money

  • 4 comments

    4 Comments so far

    1. Cathleen Collins May 29th, 2007 9:10 pm

      I finally had a chance to listen to this tonight, Brian, and must thank you again for making such educational podcasts. Though I don’t see myself working with transactions that are a fit for hard-money lenders, at least not in the near future, your podcast shed light on an area of the real estate industry, to which I had never before given a second thought. Keep ‘em coming Brian!

      BTW, when you’re referring to an agenda, or perhaps a “white board” that you were sharing with the participants in your phone conversation, as it seems like you were doing during this session, it could be interesting for you to show those on the associated blog, too…

    2. Brian Brady May 30th, 2007 3:18 pm

      I’m working on figuring out the GoToMeeting technology, Cathy. I think I can actually present a vidcast but I need more downtime in front of the computer.

      You’re correct…links on a “whiteboard” would be better than nothing. I appreciate the encouragement.

    3. marianne July 12th, 2007 3:05 pm

      Many thanks for clarifying alternatives to subprime or stated income loans for residential customers. It should be noted that subprime and stated income loans do have value in the commercial lending marketplace. Folks with less than perfect credit who wish to start a small business, say purchase a gas station, run a motel or run an auto repair shop often do not have a portfolio that makes them attractive to big box lenders. Financial institutions like Ocean Capital in Rhode Island flourish in the subprime or stated income space because of an up close and personal approach to these loans, the properties and the applicants.

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