Mortgage Daily Logo

Service Links Brokers With Private Investors

Mortgage News

Mortgage brokers can get past the challenges posed by traditional wholesale lending programs through a new service that promises to find private investor money. More than $100 million is currently available.

Most people in the mortgage industry won’t argue that loan options have diminished for brokers, who are now limited to agency and government programs.

But a company based in the British Virgin Islands claims that it has a stable of investors with more than $120 million to lend.

That firm, Fundthatdeal.com, said in a news release that it has successfully completed a pilot program and is now launching for the public at large.

“On one side are private investors who are disillusioned with the low rates of return their money is achieving and the current volatility of the stock markets,” the company explained in the statement. “On the other side are people who make it their business to identify the best residential and commercial real estate deals in the market but struggle to borrow money from banks and mortgage companies.”

Fundthatdeal.com spokesman Austin Awadzi said in a separate statement that the service is ideal for mortgage brokers seeking out first and second mortgages.

After basic information about the transaction is provided, mortgage brokers pay a fixed up-front fee. After the deal closed, Fundthatdeal.com earns a 1 percent “success fee” based on the loan amount.

“Fundthatdeal.com gives mortgage brokers an additional channel for providing solutions to their clients,” Awadzi stated.

Investor registration is free.

A quick online search for complaints about the Web site revealed nothing.

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam