According to data from the Mortgage Bankers Association, the commercial mortgage industry looks to be making a solid comeback. MBA is currently projecting that volume will grow to $300 billion in 2014, a 7% increase from 2013. Multifamily originations are driving a lot of the growth, according to Mortgage Professional America, as well as rising property values and incomes. If you’re a residential mortgage broker looking to cash in on the commercial mortgage comeback without interrupting the flow of your residential business, here’s how APEX can help:
- Education: It’s important for residential mortgage brokers who are interested in getting involved in the commercial mortgage business to understand the industry. APEX offers blogs that teach brokers the small commercial mortgage basics. You’ll learn where to find commercial mortgage leads, how to market yourself as a commercial mortgage broker and how to sell non-conforming commercial mortgages, among other useful skills.
- Support: As a residential mortgage broker, your primary focus is of course going to be helping borrowers to acquire financing to purchase homes. However, closing the occasional commercial mortgage can help you to increase your income, and it’s easy with APEX. All you need to do is submit an application, a credit report and a loan summary, and we take care of the rest.
- Protection: As a company that relies heavily on mortgage brokers, APEX values the services that you provide to both your clients and to us. Your fee will be protected in the commitment letter that we send to your borrower, as well as on the HUD statement. We also offer YSP on a case by case basis.
If you’re a residential broker who is turning away borrowers looking for small commercial mortgages, you’re essentially turning away extra income. With the right education, support and protection, APEX can help you close the small commercial deals that you come across in a way that allows you to continue focusing on your residential business.
If you have a small commercial mortgage scenario to discuss, call APEX at 800-262-2739.