Hard Money Loan Closings In 30 Days Or Less At CNG
This BLOG On Hard Money Loan Closings In 30 Days Or Less At CNG Was UPDATED On July 18, 2017
As a mortgage broker,
- I have a fiduciary responsibility to my clients and it is my responsibility that all purchase hard money and commercial mortgage loans close on time.
- There was a recent incident where disaster was around the corner and how Greg Kewin of Capital Network Group Inc. ended up saving the day.
- This potential disaster was avoided where we could not meet the hard money loan purchase closing date of June 21, 2013.
- I would like all commercial and hard money mortgage brokers who have similar cases like this to hear my story.
Here Is The Story On Hard Money Closings In Less Than 3 Weeks
I submitted a complete mortgage application package to ABC Hard Money Lender (Not using the real name to protect interests), which is one of our dozens of correspondent lenders May 21, 2013.
- It was for a hard money borrower I will just name TB from Florida.
- The client signed the competed commercial mortgage application as well as the disclosures and submitted all necessary documents.
- The mortgage application was processed and submitted to ABC Hard Money Lender.
- The closing date was set for June 21, 2013.
After our commercial processing department submitted the mortgage application, I was not concerned because we had plenty of time. Then on this past Monday, June 10, I had my processor check on status. She did. Guess what? ABC Hard Money Lender did not even open up the file! I was so livid and could not believe it. They promised to put a rush on it and promised to expedite the file and asked my processor if she can get an extension from the client. I told my processor absolutely not. The closing date could not be extended. I then directed my processor to submitted to Greg Kewin and Darren Herringshaw of Capital Network Group Inc., both managing partners at CNG. I had the client sign Capital Network Group Inc. documents and it was uploaded to Greg Kewin’s system on Wednesday July 12. Thursday July 12, 2013 we had a conditional approval!!!!! Unbelieveable. The hard money loan appraisal is transferable and we are on target to close next Friday July 21, 2013. This is not the first time Greg Kewin and Darren Herringshaw of Capital Network Group Inc. has save the day for me and my client. I have decided not to get stressed out and minimize risks in my business by taking all of my deals to Darren Herringshaw and Greg Kewin from now on.
Attention Mortgage Brokers Who Need Fast Hard Money Loan Closings
The mortgage business is a very tough business and the burn out rate for mortgage brokers is probably one of the highest in any industry.
- Hard Money and Commercial wholesale mortgage lenders make up their own overlays as they go and thousands of mortgage brokers are experiencing a lot of problems with wholesale mortgage lenders promising one thing and then changing their promises and denying their client’s mortgage loan.
- I had this happen to me too many times so I am extremely cautious to who I submit my loans.
- Loan officers can completely lose your realtor referral sources by screwing up one loan.
- I strongly recommend Darren Herringshaw and Gregory Kewin of Capital Network Group Inc., also known nationally as CNG to every commercial and hard money loan mortgage broker.
- I never refer anyone unless I have had personal experience with them.
- Hands down, it will not go wrong on Hard Money Loan Closings on time.
Contact Greg Kewin or Darren Herringshaw of Capital Network Group Inc. at 1-800-900-8569 and tell them Gustan Cho from Gustan Cho Associates sent you there. They are short term hard money rehab loan and commercial loan experts. You will not be disappointed. I guarantee it!!!!