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BANKER LETTER
Volume 8: Issue 8
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Date: June 30, 2020
This letter is intended only for commercial real estate loan officers working for banks, credit unions, conduits, and hard money lenders. Today we’ll discuss finding a home for your commercial loan during this recessionary period. As always, we have lots of cute, clean jokes, funny pictures, and a video of what it's like being stung by a Murder Hornet.
Hey guys, if we make you chuckle today, won't you please-please-please refer a turndown this week to CommercialMortgage.com? Seriously, guys, this searchable portal is free, and it contains thousands of commercial lenders. You really are doing them a favor.
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Joke Du Jour
The World Health Organization has determined that dogs cannot contract Covid-19. Dogs previously being held in quarantine will be released. To be clear, WHO let the dogs out.
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Free Commercial Loan Software
C-Loans has just developed some brand new commercial loan software that is super-easy to use, even for a complete newbie to commercial real estate finance. You just fill in the blanks. You can then take your professional-looking commercial loan package and submit it to any lender in the country. This new commercial loan software is also 100% free.
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Marijuana Joke
Wife: "I'm mad!"
Husband: "Again or still?"
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Free Commercial Loan Leads
C-Loans.com, is our original portal. C-Loans.com has been phenomenally successful, boasting over 1,000 commercial loan closings totaling over $1 billion. We will list banks on C-Loans.com for free, and they will receive free leads by email, as well as calls and emails directly from borrowers.
If the bank closes a commercial loan, however, the bank owes to C-Loans.com a software licensing fee of between 25 to 50 bps (usually 37.5 bps.) In real life, all of our banks simply bump their normal loan fee from 1.0 points to 1.375 points, so C-Loans.com effectively costs the bank nothing. Please click here to get listed on C-Loans for free. (You must be a bona fide direct commercial lender servicing at least $20 million in commercial loans.)
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Dinner Joke
I came home from work this evening and asked my wife, "Are we having salad for dinner?” "Yes we are. How did you know?" she asked. I replied, "Because I can't hear the smoke alarm."
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How C-Loans Actually Works
Think of C-Loans.com as a giant filter. We start with 750 participating commercial lenders. Every time you enter more information into the application - loan amount, property type, loan type, state, credit - dozens of lenders are filtered out. Upon completion, you are left with a list of 20 to 30 perfect lenders. You put a check mark next to six lenders at a time and press submit. Soon you are receiving quotes and offers. No good offers? Come back and submit to six more lenders, then six more, and so on. And C-Loans.com is free!
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Attention Joke
I was struggling to get my wife’s attention, so I simply sat down and looked comfortable. That did the trick.
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Carded Joke
The other day I got carded at the liquor store. While I was taking out my ID, my old Blockbuster card fell out. The clerk shook his head, said, “Never mind,” and rang me up.
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Won't You Please-Please-Please Refer Us Your Commercial Mortgage Turndowns?
If you have to turn down a commercial loan this week, you would really be helping your customer if you referred him to CommercialMortgage.com. The domain name is easy to remember.
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Glasses Joke
A man went to his doctor and said, "Help me, doctor. I think my eyesight is getting worse.” The doctor asked the man to look out the window. "Tell me what you see," he said, pointing. "I see the sun," the man replied. The doctor turned to him and asked, "Just how much farther do you want to see?"
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- Today's Observation -
Here's How to Find a Lender
in Today's Market
After having survived the S&L Crisis, the Dot-Com Meltdown, and the Great Recession, when commercial real estate fell by almost exactly 45% each time, I can tell you that the banks are going to be very, very slow in returning to the commercial real estate lending market.
But here’s the thing: On different days, in different markets, on different property types, different banks are going to pop in and out of the market. They are going to make one or two commercial loans, and then they are going to jump back out of the market. It’s a confidence thing. One day the CEO is convinced that the worst is over. The next day he will read a scary article in the Wall Street Journal, and the bank will be out of the market again. This will probably continue for at least 18 more months, if not longer.
Okay, so what do you do? The answer is that you may have to submit your commercial loan request to as many as sixty different banks before finding the right home for it. Sound impossible? It’s not. Just make a PDF of your loan package and send it to each bank by email. Voila! You’ll be surprised how fast the process goes.
The easiest way to accomplish this is by using C-Loans.com. Not only do we give you a free list of twenty to forty suitable lenders, but you can also quickly make your C-Loans app into a PDF. Then you can submit that PDF to twenty to forty of your own banks as well. This is a numbers game.
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Waiting List Joke
Maury and his wife showed up to a very popular restaurant, but it was very crowded. Mrs. Maury went up to the hostess and asked, "Will it be long?” The hostess appeared to ignore her and kept writing in her book, so she asked again, "How much of a wait?” The hostess then looked up and said, "About ten minutes.” A short time later they heard an announcement over the loudspeaker, "Willete B. Long, your table is ready."
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Become a Hard Money Lender
One reason why hard money brokers make ten times more money than desk-and-a-phone mortgage brokers is that they approve their own deals!! Four-hour video course, How To Find Your Own Private Mortgage Investors. Just $549.
Now available online!
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Burglary Joke
Victim (after burglary): "They stole everything from my house but the soap and towels.”
Policeman: "Why, those dirty crooks!"
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Would You Mind a $21,250 Referral Fee?
We once paid a $21,250 referral fee to a website owner named Alan Dunn for referring us a $17 million deal. Please click here for details.
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Baby Lunch Joke
My husband is wonderful with our baby daughter, but he often turns to me for advice. Recently I was in the shower when he poked his head in to ask, "What should I feed Lily for lunch?” "That's up to you," I replied. "There's all kinds of food. Why don't you pretend I'm not home?” A few minutes later, my cell phone rang. I answered it to hear my husband saying, "Yeah, hi, honey. Uh…what should I feed Lily for lunch?"
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Pediatrician Joke
We brought our newborn son, Adam, to the pediatrician for his first checkup. As he finished, the doctor told us, "You have a cute baby.” Smiling, I said, "I bet you say that to all new parents.” "No," he replied, "just to those whose babies really are good looking.” "So what do you say to the others?" I asked. "He looks just like you."
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Brazilian Joke
I'm sitting in a cafeteria next to a woman who was engrossed in her newspaper. One of the headlines blared: "12 Brazilian Soldiers Killed." She shook her head at the sad news. Then, turning to me, she asked, "How many is a Brazilian?"
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Video - Being Stung by a Murder Hornet
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FREE Commercial Loan Brokerage Training
From an Industry Veteran and Attorney
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Final Funny
A man having lunch at a Chinese restaurant noticed that the table had been set with forks, not chopsticks. He asked why. The waiter said, "Chopsticks are provided only on request."
"But," the man countered, "if you gave your patrons chopsticks, you wouldn't have to pay someone to wash all the forks."
"True," the waiter shot back, "but we'd have to hire two more people to sweep the floor."
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www.C-Loans.com
4811 Chippendale Drive
Suite 101
Sacramento, CA 95841
P: (574) 210-6686
F: (916) 338-2328
CA DRE #1330173
NMLS #167100
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Tom Blackburne
General Manager
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