Christopher Hills, Managing Dir. Commercial Lending

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The above information regarding Commercial Lending was provided by Christopher Hills, the Senior Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris.hills@in-visionfinacial.com or by phone at 508-377-5872 x 704.

I am dedicated to helping you find the right financial solution for the purchase or refinance of your next commercial project

For Commercial lending nationwide see In-Vision Financial Holdings

When I am reviewing a loan file one of the first things I look at and look for is the executive summary or loan summary. A well written executive summary shows the quality of the borrower and the value of the project. The goal of well written loan summary is to give the underwriter enough information to understand the commercial loan and to determine if the loan will fit within the lender's lending guidelines. Below are items that should be included in a well written and complete executive summary.

Salient Facts

Lenders want to know the details of the commercial real estate loan. Property location, property type, number of units, lot size, and the square footage are all important in the underwriting process. Also include the loan amount and property value. I am always amazed when a loan summary is missing the loan amount or the property value. If the property is being acquired, include the purchase price. You might also include useful ratios such as loantovalue (LTV), loantocost (LTC), and the debt service coverage ratio (DSCR). Rounding these ratios to the nearest 5 or 10 integer can appear deceiving. I personally prefer that these ratios be expressed to two decimal places....<< MORE >>

Commercial and multifamily mortgage loan originations were no exception to the falling trend seen in single-family home originations over the past year. Fourth-quarter 2008 originations for commercial and multifamily mortgages were a whopping 80 percent lower than the same period the prior year, according to a quarterly survey released Tuesday by the Mortgage Bankers Association . And that year-over-year decrease was seen across all property types and investor groups.

To make it easier for owners of apartment properties to secure financing, the Federal Housing Administration has temporarily relaxed one of its rules for insuring multifamily mortgages. Normally the agency, part of the Department of Housing and Urban Development, will not insure a loan to buy or refinance a multifamily property if it was built or substantially rehabilitated in the last three months. But now the FHA will waive this restriction for at least six months. For an FHA insurance application to be eligible under the waiver, the building must have a certificate of occupancy dated no later than July 31, 2008. In a Feb. 6 letter to lenders, FHA commissioner Brian D. Montgomery pointed out that HUD eased restrictions on insuring recently constructed or renovated properties once before, in 1974. The current waiver is more restrictive, he wrote, because it requires the FHA to ensure that the properties are viable and self-sustaining and will not be a financial drain on the multifamily property insurance program.

For more Commercial lending info go to www.in-visionloans.com.

Following several years of spectacular returns for the commercial real estate industry, global credit problems that began in the U.S. residential subprime market have spilled over into the commercial debt markets, resulting in suppressed transaction volumes and limited access to financing. Although real estate remains a relatively good investment option, especially in light of the recent volatility of competing asset classes such as stocks and bonds, the real estate sector itself faces several challenges in 2009 that are symptomatic of a general economy in distress.

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