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THE OFFICIAL MAGAZINE OF GERACI NOVEMBER 2018

Celebrating

JERRY & EDDY DELGADO of The Mortgage Office

Also Inside

November: Sam Kaddah of LIQUID LOGICS

FIX & FLIP Lending

Banks & Marijuana DENVER, CO www.originate.report 1


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contents NOVEMBER 2018

Features

16 Alternate Lending Evolves as Acceptance Grows

By Robert Grrenberg, Patch of Land

18 More Banks Working with Marijuana Businesses, Despite Federal Moves

18

Tae Kim, Geraci LLP

20 Self-Directed HSAs: Another Opportunity for Tax-Advantaged Growth with Private Lending

Clay Malcolm, New Direction Trust Company

Who to Know 8 Profile

Celebrating 40 years of The Mortage Company with Jerry & Eddy Delgado

12

By Charles Peckman, Originate Report

14 Industry Spotlight

Sam Kaddah, Liquid Logics

In Every Issue

6 Anthony’s Rules for Success Feeding the Beast  By Anthony Geraci, Geraci LLP

12 Get $#!& Done with JT Terrell Leaders are Readers

8

22

By JT Terrell, Petra Coach

13 Industry Job Watch

22 Cities to Watch

Denver, Colorado

By Charles Peckman, Originate Report

24 Upcoming Events 26 Loan Home

6 www.originate.report 3


4 Originate Report | November 2018


ANTHONY GERACI CEO/Editor

RUBY KEYS Marketing/Editorial Director

JOHN PELACHE Account Executive

ALICIA CARTER Event Coordinator

MAX BERGER Content Editor/Content Marketing Specialist

DAVID BASEN Digital Marketing Specialist

Letter from the Editor

PAM HUBER Art Director

CONTRIBUTORS Anthony Geraci • Robert Greenberg Tae Kim • Clay Malcolm • JT Terrell Charles Peckman

Welcome to our November 2018 Edition of Originate Report! For many of us, November will be a time to look back and remember. On

the 11th we remember the brave men and women who have served our

FOUNDING UNDERWRITERS

country. On the 22nd we remember the parts of our lives for which we are grateful, with the people we love most.

In this edition, we continue that theme with our cover story on Jerry and Eddy Delgado with The Mortgage Office, currently celebrating 40 years

MARK HANF President, Pacific Private Money

in business! Read on to learn how they reached this incredible milestone, and what’s coming for the company next. You’ll also meet our Industry

Spotlight for the month, Sam Kaddah at Liquid Logics, and see what sets him apart from the competition.

ORIGINATE ONLINE www.originate.report

GERACI ONLINE www.geracilawfirm.com Interested in advertising in Originate Report? Please reach out to John Pelache at John@Originate.Report or (949) 379-2600 For Advertising Submissions, Article Submissions, and Inquiries contact Submissions@Originate.Report

Here at Originate Report, we are grateful for you, our loyal readers, and for the opportunity to keeping bringing you valuable content each month. What are you grateful for?

Max

Max Berger

Originate Report Content Editor

ORIGINATE MAILING ADDRESS Geraci LLP 90 Discovery, Irvine, CA 92618 PHONE (949) 379-2600

GERACI CONFERENCES www.geracicon.com

www.originate.report 5


Shed at Dulwich was officially the highest-ranked spot in the UK. At one point, the Michelin guide was the go-to for restaurant goers, but with the advent of the internet a restaurant that doesn’t even exist can become the top-rated place in an entire country.

ANTHONY’S RULES FOR SUCCESS

Feeding the Beast By Anthony Geraci, Geraci LLP

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. ...We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by people we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. ...In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons...who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”–Edward Bernays

H

ave you ever been to an amazing restau-

rant? Despite your love for high-class food or a burger at the local pub, what you may

not know is that the famous Michelin Star

rating system did not come about as a method for ranking the best restaurants in the world, but as a way for

the Michelin Tire Company to sell more tires. Original-

ly, they sold a guide that aimed to get French tourists to

travel more; therefore selling more tires. Eventually, the Michelin guide turned into an elite list of the crème-dela-crème of restaurants (pun intended). It is interest-

ing, and quite alarming on occasion, how people over time can forget about the origins of a ranking system like Michelin. In the 21st century the Michelin system

still remains the pinnacle of the food chain (again, pun

intended), but there are other systems in place to rank restaurants. One of these websites, TripAdvisor, was the source of many headlines last year.

In 2017, a new restaurant came onto the scene in the UK – quickly, the Shed at Dulwich became the #1 restau-

rant in the UK, atop a list of over 18,000 restaurants. There was one slight problem, though – the restaurant didn’t exist. The project was the brainchild of the free-

6 Originate Report | November 2018

lance writer Oobah Butler, whose exploits have caused havoc on social media. Using the power of the internet and $10 for fake reviews of the restaurant, people who had never been there – including Oobah’s friends and family – left glowing reviews of the Shed and its atmosphere. Rather than a typical menu, the Shed’s food focused on emotions such as lust and love. In order to not get caught by savvy restaurants-goers, Oobah operated the Shed as an “appointment-only” destination; people were clawing at the opportunity to visit his restaurant. Out of the 104 reviews the restaurant received, 100 were five-star reviews, and those who called the Shed did not receive an appointment to eat there. Eventually the restaurant went viral and people Oobah didn’t know reviewed the Shed just so they could show their friends and family that they ate there. On Nov. 1, 2017, the

This isn’t the first time, however, that Oobah pulled a stunt that caught the internet’s attention. Also in 2017, Oobah faked his way to the top of Paris Fashion Week – while perusing one of the many “fake” markets, he noticed that there was a jean manufacturer he hadn’t heard of, Georgio Peviani. Although there are fake brands such as “Louis Vooton,” something about the name Georgio Peviani struck Butler. It sounded so real, yet not like some of the fake brands mentioned above. So, naturally, Butler became the infamous designer Georgio Peviani. He made a website, business cards, and purchased a number of pairs of jeans. He traveled to Paris Fashion week, presented “his” product to high-level designers, and even managed to work his way into a number of high-level after-parties with famous designers and world-class models. It was another instance where Oobah exploited the internet to prove that he could fake his way into any situation. He explained his adventure in a long-form article and documentary for VICE UK. Oobah’s adventures highlight the way in which we believe facts, or conversely choose not to believe them. In today’s tense (putting it lightly) political climate, fake news has become a central focus of our conversations. As we analyze reputable news sources, we are leery of articles and media bias. Almost daily, the Trump Administration shares information about this media bias, and the American people have become increasingly skeptical of the information they take in. Although this may be the case, we still find amusement in viral sensations such as Oobah’s stunt. There are so many media outlets clamoring for our collective attention as media consumers, and we are surrounded by the 24-hour-media cycle. In the journalism industry, the 24-hour-media cycle is referred to as “feeding the beast,” which references the constant need to put out more content to retain the current reader base. When looking at examples from the past like the Michelin guide or more recently the Shed, we tend to appreciate their satire or social/political value. But when looking at the constant media cycle, we tend to be more cynical or skeptical. If we can’t believe that the top restaurant in the UK is real, then what can we believe? What else are we believing that is not true?

ABOUT THE AUTHOR: Named a Super Lawyers® Rising Stars in the legal field, Anthony Geraci is the managing shareholder of Geraci in charge of firm strategy and development of Geraci’s team and culture. He is skilled in mortgage lending and securities law and has authored numerous articles on real estate finance and security subjects. Mr. Geraci is a leader in creating national mortgage pools and mortgage funds as well as sophisticated net branching arrangements among several mortgage companies. Mr. Geraci is also an active member and a member of the board of directors of EO (Entrepreneurs Organization). CONTACT: (949) 379-2600 | a.geraci@geracillp.com | www.geracillp.com


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www.originate.report 7


PROFILE

I

n 1978, Grease hit theaters and Garfield the

Cat made his debut. Jimmy Carter was Pres-

ident and gas was 65 cents a gallon – while

all of this was happening, Jerry and Eddy

Delgado created The Mortgage Office, a private lending software that has since become the industry leader in private lending origination and servicing. Although a Google search will return 132

software companies in this field, Applied Business Software, the Delgado’s company, has remained at the forefront of private lending programs for 40

years. Though no longer married, Jerry and Eddy remain married in their business and commitment

to serving their customers. They are not the only

two Delgados involved with the company, however. Carlos, Jerry’s cousin, has been with the company for 35 years. Jasen, Jerry’s only nephew, has been involved with Applied Business Software for a de-

cade and started working at ABS every summer

since he was a teenager. Outside of the Delgado family, a small, yet mighty team of software experts and collaborators remain dedicated to serving their customers, some of which have been pur-

chasing The Mortgage Office since the company’s inception. The company currently has 20 employ-

ees and has plans to grow in the future. Originate Report had the chance to sit down with Jerry and

Eddy to discuss their company’s 40-year milestone, as well as their plans and apprehensions about the future of the software industry.

Originate Report (OR): How did you start The Mortgage Office?

Jerry Delgado ( JD): Well, do you want the long story

Jerry and Eddy Delgado:

Celebrating

40 Years of The Mortgage Office By Charles Peckman, Originate Report

or the short story? Basically, at the time I had another business – I wasn’t in the software business – I ran an

auto-repair shop and I was shopping for an accounting package for my business. There weren’t many at the time, so I decided to write my own accounting package,

and I did. Then one day my computer broke down, and when the technician came to repair my computer , he

asked, “Where did you buy the accounting package?” I

told him I wrote it, and a week later he called back and

said, “I think I have a client that may be interested in your package.” So we went and gave the seven accountants a demonstration, and at the end of the demonstration they asked me how much I wanted for the software—I said $1,500 and they wrote me a check. That was really the beginning of Applied Business Software;

in about a week or two, we had sold $40,000 worth of software.

(OR): Can you describe what The Mortgage Office does today?

8 Originate Report | November 2018


Eddy Delgado (ED): Well, our software is primarily

overcome those challenges?

does better than when the interest rates are low. When

We don’t necessarily sell to banks or any organization

ery time there is a recession – the real estate industry

rectly from conventional lenders – but as the interest

designed for anybody who lends money, private lenders.

like that but if you have money to lend, we have loan

servicing software that will take care of that. The center of the program is the servicing software, but it has a bunch of ancillary programs that go along with it be-

cause there are a lot of different types of lending. If

you look at the marketplace out there, ours is the only

package that has the entire suite of every type of private lending you can imagine.

(OR): What does it take to keep a company like Applied

( JD): There have been many challenges. Obviously, evimpacts our business, it’s very cyclical, so we learned

early on that the ability to have recurring revenue is important for having predictable income. Today you have new challenges; in the past couple of years a lot

has moved to the cloud, so you have to be able to of-

fer flexible modules. Many customers today prefer the advantage of having their software in the cloud and the

ability to access it from any device and from anywhere, and I think that’s the future.

interest rates are low, most borrowers will borrow dirates are climbing up a lot of borrowers do not qualify

for conventional lending and will start taking a look at

private lending and private equity. Right now there is also a vibrant real estate market.

“Whatever you know about software development today is basically obsolete within five years.”

Business Software in business for 40 years?

(OR): What approach do you take for customer service

( JD): What it takes is moving with the times – you can’t

( JD): Customer service is important – we’re very pro-

(OR): Going off of that, is it difficult to navigate the

instituted here is if a customer buys the software today,

hard to guess how those changes are going to occur, or

(ED): A lot of work!

be in what we call “the bleeding edge,” but you have to be following the market and upgrading your software.

For 40 years, we’ve probably used four or five operating systems, and every time you change you have to re-write

the software—you have to keep the technology current. With our software, the documents and all of the differ-

ent regulations tailor what you’re doing. At the end of

the day, the customers are the ones who are going to determine if you stay at the top of the industry for 40 years. You have to provide them with value, you have to

provide them with answers to problems. The difficult

part of staying with the times is one of the things that attracted me to the industry, the sense of continuous learning. Whatever you know about software development today is basically obsolete within five years.

(OR): What challenges has your company faced over the 40 years it has been in business, and how did you

at Applied Business Software?

active in terms of customer service. One of the things we

he will get a call from our customer support service de-

partment. They will introduce themselves and they will initiate a time for an appointment to do an overview of the software that will usually take between an hour

to four hours, but we think it’s very important, when a client buys software, to get them up and running. We

try and get our customers to adopt our software soon after they buy it.

The climate today is actually much better than it has

been in many years – in 2008 there was a recession,

property values declined, there were a lot of properties in foreclosure, and since we deal primarily with private equity, it’s kind of hard to make a loan on equity when no one has it. Right now, that’s turning around because

there is a lot of equity and, unlike people think, when we have rising interest rates the private equity sector

cyclical nature of the housing market, for example? Is it do you have to adapt to them?

( JD): That’s a great question, and that’s also where the modular nature of our software comes in. If you are

strictly a loan origination software for the conventional loan industry, you are probably starting to hurt right now because there have been fewer loans written. We have a loan origination product which is primarily targeted towards private money lending, but we also have

loan servicing and even though you originate a loan one

time you’re going to have to service it for 10 or 15 years. We also have a construction module and right now adjustable rate mortgages are coming up really

strong. Why? Because interest rates are going up – when

interest rates are going down no one is interested in writing an adjustable rate mortgage but right now a lot

of lenders want to write them – construction lending is high right now too.

We’re also in 23 countries – and Canada is second to the United States in terms of our business, Canada represents about 20 percent of our business right now. An important thing to keep in mind is different mar-

kets are operating on different cycles, so Texas could

be doing great but Florida may not be doing great. The more countries and the more states you’re in, the more diversified you are and the more modules you can offer.

(ED): When we first started, we were only in California

so we were completely dependent on what the climate was just in California. But now, like Jerry was saying,

since it varies regionally it doesn’t matter because it might not be doing well in one place but it’s doing well somewhere else.

(OR): What industry changes do you see in the future? Software writer/creators and literal family members: Chief Operating Officer Carlos Nodarse (left, Jerry’s cousin) and Chief Technology Officer Jasen Portero (right, Jerry’s nephew)

( JD): Well, the software industry is going to change all the time. I think we’re going to see more distributors

Profile: 40 Years of the Mortgage Office continues on pg. 10 www.originate.report 9


Profile: 40 Years of the Mortgage Office cont. from pg. 9

working in the cloud, and I think buying software is

going to be replaced by accessing software. If you think about the music industry, who buys CDs anymore? You

don’t own music anymore; you access it – the same thing is happening to the software industry. Any soft-

ware company that doesn’t see that change is going to be left behind. We’ve been in business for 40 years so we have had a lot of compe-

ing edge.” You will fail because you’re adopting too early

(OR): So I know we’ve discussed the company’s past,

spend a lot of money and a lot of effort going in a par-

( JD): What I think it’s going to be is hard to say, but

and sometimes technology doesn’t pan out, so you may ticular direction and never reach the point of where it’s

viable. You definitely want to watch where the industry

is going and stay ready to move, but also be careful not to get involved with some technology that isn’t going to succeed.

but what do you think the next five years will bring?

I think the cloud and artificial intelligence are going to determine a lot of the changes, as will mobile devic-

es. Right now we have iPad apps because our clients are working a lot on a phone or iPad and they want

to access their information – I think mobility and ease of access is going to be crucial in the next 5-10 years.

tition, and most of our com-

For mobile devices, the chal-

petitors last three-five years

lenges are in supporting the

and then they disappear. The

software – it’s not like with

reason for that is software is

Windows where you have

very dynamic, and you need to be developing software

the same operating system

constantly. Most people who

regardless of what desktop

get into the software busi-

you’re using. With Android

ness think they can develop

and Apple devices they have

a product and then sell it for

completely different sets of

the next ten years and that’s

operating systems where the

not the case, you will be ob-

software has to be specifical-

solete because of changes in

ly written for those devices.

regulations, hardware, and

the business environment. So you have to be constantly

monitoring that, constantly

upgrading your software and looking at your customers,

asking yourself questions like

That’s especially challenging Back row (L-R): AJ Poulin, VP of Sales; Rik Stuenckel, Demo Specialist; Carlos Nodarse, Chief Operations Officer; Eddie Kim, Software Sales; Eric Gerwig, Software Sales; Ramiro Ruiz, Demo Specialist; Eric Swanson, Software Sales; Carlos Nuñez, Junior Developer; Tony Aquino, Software Support; Geoffrey Brand, Software Sales; Jasen Portero, VP of Development, Brian Giering, Software Sales; Nelson Noahk, Controller Front Row (L-R): Bree Rushing, Sales Associate; Maddy Holstein, Receptionist; JoAnn Huerta, Software Support, Elizabeth Morales, Chief Marketing Officer.

“what do they need?” We are

because now you’re supporting multiple code bases.

(OR): You talk about the journey of owning a compa-

ny for 40 years…what is that

definitely a customer-driven company, and our custom-

(OR): What other growth opportunities do you see for

journey like? What are some of the things when you

(ED): A lot of times, we have customers who tell us

( JD): Well we have another product now called The

some of the things you’re concerned about?

ers tell us where we need to go next.

where they want to go, but then we have customers we

drag along kicking and screaming because they’re skeptical, but eventually they adapt as well.

( JD): We always have the early adopters, the people

who want to have the latest technology, look, and hardware, and those are the people who usually push the entire industry in a whole new direction.

(OR): Looking at the whole diffusion of innovations

chart, do you focus more on those early adopters when it comes to the products you offer or are you looking more towards the general population?

( JD): Both. You don’t want to be the first one at the

party; you want to come in a little late. That’s what I was talking about earlier when I was referring to “the bleed-

10 Originate Report | November 2018

Applied Business Software and The Mortgage Office?

Loan Office, which is a subset that we created about two

years ago and has been a success. The Loan Office is designed for the small, but really mid-sized lenders – there

was a big vacuum for the “little guys” like small lending

businesses that were dominated by a handful of very bad software programs. So we took the same concept

of The Mortgage Office and reduced it to give clients

an entry-level option, also provides an upgrade path. If you ever grow up to be a big company, then you can

buy The Mortgage Office and we can convert your data automatically – you’re using a product that has a similar user interface, so the learning curve is very small.

wake up in the morning you’re excited for, and what are ( JD): I’m not excited in the morning when my kids are

screaming! But coming to work is very exciting to me because I love the challenge of the business; otherwise it wouldn’t have gotten my attention. The fact that I told you that everything I know today will be obsolete

within five years means you have to have your finger on

the pulse of the industry and on your clients. We have clients who have been with us for over 40 years, and we are as challenged today as we were the day we started.

(ED): It’s awful nice to come to work because you’re dealing with the people you have in your office who become like family.

CONTACT: To learn more about The Mortgage Office, visit themortgageoffice.com


You’re going places. Don’t stop until that place is the top. If you’re a loan originator looking to build your business and gain insight from the nation’s top mortgage brokers, bankers, lenders, and lawyers, Originate Report is for you. Distributed to 35,000 professionals in the private lending industry every month, this is where you come to see and be seen. To discuss submitting original articles, or for general Originate Report questions, email us at submissions@originate.report.

behind you all the way. find us online at www.originate.report www.originate.report 11


GET $#!& DONE with JT TERRELL

Leaders are Readers

A Q&A with Tom Bemiller, President and Founder of Complete Fleet By JT Terrell, Petra Coach

I am also a member of Vistage CEO Network. As a member, I spend one day per month with 15 other CEOs learning from subject matter experts, as well as each other. We discuss issues, problems, challenges and opportunities in our businesses, as well as in our personal lives, and we share ideas and experiences to learn from one another. Q: What lessons have you taken away from the discipline of adhering to a schedule?

A: I’ll be honest: I don’t think I could survive without my calendar. Not only does it consist of a series of recurring events that dictate my activity all day every day, but it helps me prioritize learning and ensures it never falls to the wayside.

“W

hat do all of the most successful and prolific leaders of our day have in common, and how can I follow in their footsteps?”

It’s a question that many executives and entrepreneurs ask as they seek to learn from the experiences, successes and failures of today’s business icons. But while many entrepreneurs make the answer complicated, with big gestures to match trends in productivity (like a culture rework or fundamental changes to the hiring process), it actually couldn’t be more simple. From Warren Buffett and Bill Gates to Mark Zuckerberg and Mark Cuban, the most successful leaders in business have made learning a critical priority of their everyday life.

For example, Mark Cuban famously had three hours of reading time every day written into his marriage vows. For many years, Bill Gates went into seclusion for two different one-week “Think Weeks” per year – family, friends and Microsoft team members were banned from his retreat. Mark Zuckerberg has vowed to read a book every two weeks – forever. And Warren Buffet’s dedication for continuous learning has been noted numerous times by his longtime business partner Charlie Munger. These are real commitments to learning, folks – ones you don’t fake, but ones from which you draw regular motivation, inspiration and education.

At Petra Coach, we’re constantly sharing this lesson to the executives we work with, explaining that – to be a truly successful leader – you’ve also got to be a reader.

In our conversation below, you’ll find some valuable tips from someone who is achieving greater success as a result of learning.

Q: Tom, describe your schedule for learning and how it works. A: In terms of my schedule, I set aside one day per week for reading and thinking; the day is blocked off on my calendar and it’s the same day each week. I’ll generally read something related to an issue I’m processing or a project I’m working on inside the business, and then I’ll spend time thinking and brainstorming about how to apply the concepts. I’ve made big progress in very little time on some very important projects since making it a priority in my schedule. As far as a specific routine, I spend 10 minutes each morning practicing gratitude, 10 minutes reading, 10 minutes journaling and 10 minutes setting my priorities for the day.

It’s the first thing I do in the morning, and it gives me an opportunity to quiet my mind, gather new information and knowledge, establish a positive attitude for the day, and focus on what needs to happen that day in order to move me toward the completion of my goals. Since starting the ritual, I’ve become more efficient and effective in my work. I’m also more calm and less stressed, and I am spending more time with my family. Q: What professional learning opportunities do you take advantage of?

Being extremely disciplined with my schedule has also allowed me to get more work done in less time, naturally creating time for me to spend working on the business. Additionally, the routine of repeating events (e.g. always going to the office on Monday or always reading at the library on Thursday) allows me to prepare better and focus more on the specific task or meeting at hand. Q: How do you feel about the practice of a routine and what do you think others can gain from creating their own?

A: For me, routine is absolutely necessary. It helps me to be focused, prepared, and effective throughout the week. By scheduling all of my time ahead of time, I can finetune a routine that works for me, allowing me to be the best I can be as a father, a husband and a CEO.

It is an important point that, especially for me, creating that routine sets you free from the little fires that we feel we must put out every minute of every day. So, if you’re a leader that wants to set a strict routine for learning, I encourage you to tell the most important people in your life why it’s so important. They can also help keep you accountable. Q: How hard has it been to keep it up?

A: I’ve certainly gotten better over time, but it was difficult at first. For me, it basically comes down to self-discipline in prioritizing the important stuff over the urgent stuff. Like anything, progress didn’t happen overnight; it was a series of small improvements over time that eventually added up. It just requires a commitment to self-improvement.

Tom Bemiller is President and Founder of Complete Fleet, which serves as the management company for a group of auto body shops in Chester, Montgomery and Delaware Counties in Pennsylvania.

A: I attend three or four conferences or learning proTom Bemiller, founder and president of Complete Fleet, grams per year, where I pick up an enormous amount of one of our member companies, uses a “Learning First” knowledge in concentrated fashion. mantra in his life and business. To help coach other leaders on JT Terrell is a big believer in earned trust and the power of planning, and he’s put both into action in his own life and career. After 10 years as a professional musician, JT founded event rental company Music City Tents the importance of learning, I and Events LLC and grew it into an industry innovation leader. JT attributes his company’s success to his work asked him to describe exactly with Petra Coach and the adoption of the Rockefeller Habits. JT is now thrilled to be on the other side, coaching what that means and the benefits and engaging businesses to help them uncover opportunities, create strategies, and get focused. Reach him at he’s experienced from it. (888)330-1020 x705 or jt@petracoach.com.

12 Originate Report | November 2018

JT Terrell, Monthly Columnist


INDUSTRY JOB WATCH

Money360, Inc., Ladera Ranch, CA Commercial Real Estate Loan Underwriter must be able to eval-

Look Wh o’s Hiring!

Looking to fill a posit Originate ion? Adve Report’s rtise it he Industry re in of thousa Jobs to g nds of qu et it in fro a lified can nt Contact J didates. ohn Pela che at joh n@origin or (949) 3 ate.report 79-2600 .

uate loan opportunities, including, the real estate collateral securing the proposed loan, the surrounding market and demographic area and the adequacy of the loan structure of the transaction and/or relationship. Primary duties include the underwriting of commercial real estate and bridge loans, reviewing loan documents, spreading financial statements, evaluating borrow/guarantor financial support and management, and developing rationale for pricing decisions. The role will be responsible for all aspects of a proposed loan from the time the borrower executes the term sheet through closing. Interested parties should contact Paul Cleary. CONTACT: paulcleary@money360.com | www.money360.com

REDWOOD MORTGAGE, San Mateo, CA California’s Redwood Mortgage, a privately owned real estate mortgage and investment company located on the SF Peninsula, seeks Account Executives for key California territories. “Redwood Mortgage has been one of California’s leading innovators in private mortgage lending and mortgage pools. The company offers the right candidate the opportunity to build a territory and career in our loan sales department. The ideal candidate has solid experience in commercial, multi-family and residential investment real estate lending, have an active Cal DRE real estate license, and NMLS. The person will learn and understand the commercial bridge loan product and private money loan product, and manage a territory and develop relationships with Bankers, Brokers and Retail borrowers. Benefits include 401K, dental, life insurance, medical, and vision. Interested parties should contact the Director of Sales and Marketing Steve Belleville. CONTACT: steve@redwoodmortgage.com www.redwoodmortgage.com

We turn optically challenged loans into

COMMISSION. Nationwide commercial real estate lending.

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$800K, Carlsbad CA Fix & Flip | 80% LTC www.originate.report 13


SPOTLIGHT

Industry Spotlight:

Sam Kaddah Founder & CEO, Liquid Logics

14 Originate Report | October November 2018 2018


L

iquid Logics provides Next Generation Cloud-Based Loan Origination Software (LOS) primarily for private/hard money lenders. Our system was built around the borrower experience, with an emphasis on simplicity and speed for the Loan Officer. We are passionate about helping private lenders improve their businesses by streamlining the loan process. We strive to make our software the best in the market for all users, including borrowers, outside investors and lenders employees. Although loan origination software is our bread and butter, it only describes something we do – it does not define who we are. At our core, we are a business solutions company dedicated to facilitating growth, minimizing your workload, and making your business the best it can be. Originate Report: How did you first get into this business? Sam Kaddah: Transitioning from running a Global operation for GE after running the upper Midwest practice for Ernst & Young, I entered the lending industry in 2004, starting as a comprehensive online system for Alt-A and specialty lending products. At that time, we were approached by a large Northeast fund using an old platform that was not serving their growing business needs adequately. Since our services are built to be client specific, we were able to provide a robust platform that met their needs. The CEO of that organization alerted me to the true size of the private lending industry and let me know that the American Association of Private Lenders (AAPL) was located in Kansas City right next to our headquarters. By partnering with AAPL we were able to quickly penetrate the market and become the SaaS-based leader in the private lending industry. OR: What sets Liquid Logics apart from other loan origination software companies? Kaddah: Many things. For starters, we offer consulting and implementation services that help new players and experienced outfits streamline their operations and introduce them to the right players in the industry. We are also a completely comprehensive cloud-based system: • True cloud-based – We are not an old PC-based software put on a virtual machine and labelled as “web based.” • We have an automated underwriting and approval system. •W  e have an automated flagship doc origination system with content provided by the industry leader law firm Geraci. • We have a full in-depth construction and draw management system. • We have a full loan servicing and pool management system, including investor reporting. • We have a new REO asset management system. • We cover all players in the industry end-to-end with collaboration tools, including: • borrower portals • broker portals • inspector portals • Loan originators, processors, underwriters and closers portal

• Investors portal • Loan Officers personalized sites • Real estate agent’s portal •W  e have full staff on hand that is U.S.-based, unlike many others who do not have tech knowledge or staff – just a few offshore developers. • We have a long history of in-depth industry and workflow experience – Our system is modular, configurable and comprehensive to meet. • We have a full marketplace notes and loans exchange system. • We integrate to many services with one click, including: • Credit agencies • Flood services • Appraisal services • Title services

predictive target marketing and adapting new trends in user experience. This makes our system simple, clear and easy to use. OR: What are some of the biggest challenges that Liquid Logics faces? Kaddah: 1. Keeping up with growth demand. 2. Relaying to our client prospects that we are different from the other providers who provide smokescreen answers instead of sustentative, fully functional systems that are built and supported onshore with full support and a client service team. OR: How is your company reacting to changes in the marketplace? Kaddah: This concept is built into our company’s DNA. Our motto is “Think different, think Liquid Logics.” We always look for change indicators and focus on staying ahead of them. OR: What influence do you think your company has had on the industry over the years and why? Kaddah: We have driven the fintech in this industry segment forward. For years, old systems based on old technologies were the norm. Old desktop systems and very limited features and functions that focused on parts of the servicing without the customer borrower experience or services. I believe I drove the entire market forward when we entered this vertical in 2014. Now we have few players who can claim some level of capability online.

“...Technology

is not about technology. It is about people, business and how to make peoples’ lives easier.” -Sam Kaddah OR: How has Liquid Logics been able to stay in business for so many years? Kaddah: It is really simple. We think differently, we act differently and we make our clients shine within their niches. We adapt to our clients instead of pushing them to adapt to our system. • We have the best client support team in the industry. They always pick up the phone, answer emails and jump to solve clients’ needs. • We keep our system consistently updated. •  We listen, understand and adapt to meet the ever-evolving client and business environment changes. •  We understand both tech and lending, so we are always able to provide value and give more than we take. OR: How has your team utilized emerging technologies to better serve your clients? Kaddah: Our team thrives on implementing the NextGen systems, from analytics and digital currency to

OR: What are some of your goals for 2019 and beyond? Kaddah: We are striving to keep our status as the industry innovative leader and keep our growth sustainable. We also need to successfully introduce our new REO and asset management system and gain adoption. OR: What is one piece of advice you have learned and carried with you throughout your life? Kaddah: As strange as this may sound, technology is not about technology. It is about people, business and how to make peoples’ lives easier. On a personal level, it is also about humility, pragmatism, grit, giving more than you get, and adapting to change – all the while realizing that I am not too good to make mistakes and learn. Most importantly, it is about understanding and enjoying the fact that the journey to success is filled with many lessons, challenges and detours. OR: What is something that most people don’t know about your company? Kaddah: We have been the pioneers in the online lending space with a fully-functioning system, and have published articles about it as early as 2010. We have been in business since 2004 in Kansas City with incredibly helpful and well-rounded team members. CONTACT: liquidlogics.com (866) 547-8430 | sam@liquidlogics.com www.originate.report 15


FEATURE

Alternative Lending Evolves as Acceptance Grows By Robert Greenberg, Patch of Land

A

ccess to real estate investment financing through private lenders in the United States has undergone drastic changes in recent years. This change has provided a variety of financing options to residential real estate investors that didn’t exist a handful of years ago. Traditional hard money lenders remain plentiful throughout the United States, and thanks to popular home renovation shows, the awareness of these entities has become much more mainstream.

Today, asset-backed lending is no longer solely the domain of traditional hard money shops. A variety of alternative mortgage lenders have entered the space in just the past few years to provide new financing options to the fix-and-flip real estate investor.

Traditional Hard Money Lenders: Perception and Limitations

Historically, hard money lenders have had a rough reputation. The high risk, high reward nature of the business has been known to attract predatory lenders and scam artists looking to make a quick buck off of trusting real estate investors. But there are plenty of reputable hard money lenders doing things the right way. Traditional hard money lenders typically have some limitations that newer, alternative fintech lenders do not. Traditional hard money lenders usually specialize in a particular asset class in a specific geographical market. While that means the hard money lender may have superior local market knowledge, it also means financing could be limited to deals that are located in a particular city or metropolitan region.

University of Chicago suggests the alternative lending sector is poised for additional growth. The “Americas Alternative Finance Industry Report” finds the industry “hit a stride” in 2016, showing continued, steady growth in most segments of the market, according to the joint study. “An array of crowdfunding, marketplace/peerto-peer (P2P) lending and other online alternative finance platforms have emerged that use technological innovations to change the way people, businesses and institutions access and invest money,” said the 2017 report — the second annual report that the two universities have partnered on to study alternative lending. The alternative finance market grew across the United States, Canada, Latin America and the Caribbean to a total market volume of $35.2 billion in 2016, according to the report. The 23% increase from 2015 was driven by growth across all regions and most market segments of the Americas, with the United States as one of the top markets for online alternative finance channels. The 2016 U.S. market volume of $34.5 billion marked a 22% year-on-year increase from 2015, according to the report.

Other factors typically include significantly higher interest rates than a traditional mortgage, and short-term financing (as short as a few months), which may not fit the needs of all real estate investors. Additionally, hard money lenders may not offer as many loan products as the newer fintechs do.

Advantages of Alternative Lenders

The real estate debt crowdfunding industry and other alternative lenders provide high-tech online options for residential investors beyond the traditional hard money lender.

Many of these fintech operators are sophisticated lending shops backed by some of the nation’s largest and most respected private equity and venture capital firms. This provides added security for investors who are dealing with a reliable lender with substantial financial resources available.

Growth in Private Lender Platforms

In a recent study of the alternative lending sector, a joint study by the University of Cambridge and the

16 Originate Report | November 2018

These new alternative lenders who offer loans to fixand-flip investors provide a variety of benefits, and continue to diversify their offering. Their national, online footprint makes them accessible 24/7 to increasingly sophisticated regional and national real estate investors who need financing in multiple metro areas.

Finally, the efficiencies from the technology used by these alternative lending platforms means the cost of capital has come down and decisions can be made quickly using online algorithms. Ideally, lower costs and faster funding translates into more opportunities for investors to leverage their real estate portfolios.

Conclusions

Each real estate investor will need to weigh the pros and cons of using a traditional hard money lender or an alternative lender for their fix-and-flip projects. It could be that they end up using both types of lenders at different times, depending on individual situations. Either way, the good news about the growth and acceptance of asset-backed lending, whether it is via a traditional hard money lender or an alternative, online fintech platform, is that more options for fix-and-flip financing exists today than ever before. ABOUT THE AUTHOR:

Robert Greenberg is chief marketing officer at Patch of Land. He is responsible for branding, corporate communications, lead generation, marketing automation and managing integrated marketing activities. Prior to Patch of Land, Greenberg led the marketing efforts for B2R Finance, where he helped originate nearly $2 billion in real estate investor loans that led to the industry’s first-ever multi- borrower single-family rental securitization. CONTACT: rgreenberg@patchofland.com


www.originate.report 17


More Banks Working With Marijuana Businesses, Despite Federal Moves

By Tae Kim, Geraci LLP

18 Originate Report | November 2018

I

t’s been all over the news as of late. The marijuana business in America is booming. Inboxes are filled with emails about Cannabis stocks, news

reports detail how dozens of states are mov-

ing forward with cannabis legalization, and Big

Pharma is waiting in the wings for its chance to capitalize on multi-billion dollar market.

What is rarely discussed is how does all the money from

cannabis businesses – still illegal under federal law – get into our banking system. Recently, states like California and Colorado have attempted to address the banking

problem by pushing legislation to ease banking restrictions, but little progress has been made.


that deferred to states with regards to enforcement of marijuana laws in those states where it has been legalized.

The decision had a negative impact on advances by the

cannabis industry to engage with financial institutions, as many banks decided to hold off until it becomes clear how the federal government would approach legalization.

The stigma of marijuana’s federal illegal status leaves

banks with the fear of accepting marijuana money over

being challenged with investigations for money laundering or other financial crimes. This situation forces

legal marijuana businesses to conduct most business in

cash, opening them up to the potential for robbery and tax problems.

However, as more states begin legalizing the cultivation,

manufacture, and recreational use of marijuana and cannabis-related products, state legislatures are working with their Congressional representatives to address banking restrictions for the industry.

In early summer, a congressional committee voted down

an amendment that would have protected banks that work with marijuana businesses from Treasury Department sanctions. If passed, the legislation would have

opened the door for many financial institutions who are clamoring to take in cannabis money.

Regardless, federal data shows that more banks are cau-

tiously entering the market, providing financial services

in a way that is both legal and which insulates them from federal scrutiny.

The Trump administration has recently provided over-

tures, stating that it is looking at how the Treasury Department approaches cannabis banking, reviewing a memo produced by the agency.

“The SAR reporting structure laid out in the 2014 guidHowever, the reluctance by banks to get involved with marijuana businesses is slowly fading. The number of

banks willing to enter the industry is climbing, and as

of the end of March, federal data shows that more than

400 banks and credit unions are currently providing accounts for marijuana businesses.

According to a report from the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), that amount is up 20 percent since President Trump

ance remains in place,” the update states. “FinCEN will

continue to work closely with law enforcement and the financial sector to combat illicit finance, and we will notify the financial sector of any changes to FinCEN’s SAR reporting expectations.”

In June, Federal Reserve Chairman Jerome Powell said

that the gap between federal and state marijuana laws

“puts federally chartered banks in a very difficult situation.” He added that its mandate has nothing to do

with marijuana and that the Fed would “love to see it clarified.”

Treasury Secretary Steve Mnuchin has also suggested to

Congress that he would like to help facilitate banking for marijuana businesses.

“Clearly, states are moving. Almost every time it’s on a referendum, marijuana wins,” said House Minority Whip Steny Hoyer (D-MD).

More recently, members of Congress have been working

on legislation that will decriminalize marijuana, at least

for medical use, paving the way for a full reversal of its Schedule 1 drug classification.

Representatives have taken notice that in almost every

state where either medical or recreational marijuana use has been proposed, it has passed with voter approval. “Clearly, states are moving. Almost every time it’s on

a referendum, marijuana wins,” said House Minority Whip Steny Hoyer (D-MD).

Although we are not quite there yet, federal marijuana law reform is coming. With more than two dozen states

legalizing the recreational use of marijuana, and even

more approving medical marijuana, Congress must act

so that these state-legal businesses can come out of the cash-model shadows and go mainstream for their banking needs.

Without significant changes to the federal banking rules,

billions of marijuana dollars will continue to remain sidelined, rather than stimulating local economies, as millions of voters intended.

ABOUT THE AUTHOR: Tae Kim is an associate in Geraci’s Securities and Corporate

took office.

Department and focuses his practice in helping clients raise capital via private placements

In January of this year, Attorney General Jeff Sessions

business.

decided to remove Obama-era Justice Department rules

offerings and other alternative investments. Tae also ensures compliance with all applicable federal and state securities laws and advises clients on how to organize and structure their

CONTACT: t.kim@geracillp.com | (949) 379-2600 | geracilawfirm.com www.originate.report 19


FEATURE

Self-Directed HSAs: Another

Opportunity for Tax-Advantaged Growth with Private Lending

By Clay Malcolm, New Direction Trust Company

Y

ou may earn your day-to-day living through loan origination, and you may have heard that you can engage in similar lending practices with tax-advantaged retirement accounts like IRAs or 401(k)s. A less-discussed but equally viable savings option is a health savings account (HSA), which allows self-directed investors to save specifically for medical expenses instead of retirement in general. Like their retirement-oriented counterparts, HSAs bear considerable near and long-term tax benefits and can adopt alternative investment strategies like private lending. Not all HSA custodians enable their clients to self-direct their investments, and fewer still will permit alternative assets (another parallel to retirement investing). If you’re interested in lending money with your HSA, finding a suitable custodian will be your first step. Once you’ve opened and funded a new self-directed HSA, you can originate new transactions using your familiar approach. Even though you’re acting on behalf of your HSA—which serves as the “investor” in this model—you can qualify potential borrowers, make final decisions on terms such as interest rates and loan durations, and prepare the applicable documentation (including security documentation if you so choose). For those inexperienced with HSAs, let’s review the substantial benefits of these accounts:

Contributions

HSA contributions can be deducted from your annual income for tax purposes, providing an immediate benefit regardless what the future holds. For example, if you earn $50,000 in a given year and contribute $3,000 to

20 Originate Report | November 2018

your HSA, you may deduct the contribution and pay taxes on only $47,000 instead of your full income. To open and contribute to an HSA, you must have a high deductible health plan (HDHP) with deductible minimums of $1,350 for single coverage and $2,700 for family coverage. Single HDHP participants may contribute up to $3,450 per year while family HDHP participants may contribute up to $6,900 (as of the 2018 tax year). HSA holders may contribute an additional $1,000 per year if they’re age 55 or above. These HSA contribution limits will not impact those of any other tax-advantaged plans you may have.

Distributions

HSA distributions can be 100% tax-free, regardless of your age, if they’re applied toward qualified medical expenses (QMEs) or reimburse you for QMEs already paid (only if the expenses were incurred after you opened the HSA and made your first contribution). Your spouse and anyone you may claim as a dependent can yield these same benefits even though they’re not the HSA holders and even if you don’t have family HDHP coverage. You may think the list of QMEs is loaded with obscure emergencies that most people will never endure, but that’s not the case. Among others, QMEs include: • Routine physicals • Chiropractor visits • Vision expenses (exams, glasses, contact lenses) • Prescription medications • Psychological care • Surgeries

Non-QMEs include cosmetic surgeries, illegal procedures, non-prescription medications (though insulin is a QME), nutritional supplements, or gym membership fees. See IRS Publication 502 for the full list of qualified and non-qualified medical expenses. HSAs provide a unique opportunity to never pay taxes on a portion of your income even as the account increases in value. From our previous example with the tax-deferred $3,000 contribution, let’s say you issue those funds for a short-term loan with a 10% interest rate. Your HSA will hold $3,300 upon successful completion of that transaction. You then sustain an unfortunate injury for which you’ll need the full HSA balance. You can distribute those funds and cover your expenses, all without ever paying a penny of taxes on the $3,000 contribution or the $300 profit. An HSA can be a game-changing piece of your overall financial puzzle, and your proven private lending method can effectively fuel this vehicle. For more information about HSAs, please review IRS Publication 969. ABOUT THE AUTHOR:

Clay Malcolm is Chief Business Development Officer at New Direction Trust Company, a custodian of self-directed investment accounts that hold alternative investments. Mr. Malcolm provides preliminary and continuing education to anyone interested in promissory notes, real estate financing, and other loan structures as assets in IRAs, 401(k) s, and other such tax-advantaged or taxable investment

plans. CONTACT: cmalcolm@ndtco.com | 877-742-1270 (Ext. 113) | www.ndtco.com


You have knowledge. You have ideas.

Let us showcase your voice.

Currently we’re looking for articles showcasing: Business Development • Fintech/Newest Loan Programs • Automation in Today’s Evolving Society • Upcoming Trends & Changes • Marketing & Outreach Essential Tools & Technologies • New Legal Issues and Regulations. Another idea? We’d love to hear that, too.

Write for us. Email submissions@Originate.Report for more information.

www.originate.report 21


CITIES TO WATCH

Cities to Watch:

Denver, Colorado By Charles Peckman, Originate Report

Red Rocks Amphitheatre

22 Originate Report | November 2018


T

he date is June 24, 1870 and residents of the

Nightlife

Pacific completed the final link connecting

“scorching,” and includes a variety of clubs and per-

newly-established Denver cheered as Denver

Denver to the rest of the growing nation via rail – fi-

nally linked to the rest of the nation, Denver prospered as a service and supply center. Throughout the rest of

According to Denver’s website, the city’s nightlife is formance venues to suit everyone’s partying or music

listening needs. Some of the highlights of this bustling city’s nightlife include Beta Nightclub, which was

the 19th century, the city saw a bolstering elite, mid-

named the best nightclub in America by Rolling Stone

with big dreams pouring in from Germany, Italy, and

this Western state, the Cowboy Lounge offers a country

dle, and immigrant-class population, with immigrants

China. Now, Denver is a bustling hub for a number of industries and is known as the Queen City of the West

because of its importance in the agricultural industry of the High Plains region in eastern Colorado. It is also called “the Mile-high city” because of its high altitude.

With a moderate amount of precipitation throughout

the year and four distinct seasons, Denver is surely a beautiful place to live and work. With close access to

in 2013. If you’re looking for more of a western vibe for

theme with country and classic rock music. According

to their website, the club offers “the spirit of the Wild West” with a large dance floor and bar. With four floors

and five dance rooms, Vinyl has a high-energy feel that allows you to bust your best move, whether it be the

sprinkler or robot – the patio also has spacious views of the city.

Dining

skiing and hiking, there is a litany of outdoor activities

Whether you’re looking for a quick bite or a night on

doors, there are also world-class shopping centers and

array of resturants for you to choose from. Julep, which

to partake in – but if you aren’t interested in the outart museums.

Economy:

• Major industries: Advanced manufacturing such as aerospace, defense, and transportation & logistics • Minimum wage: $9.30 • Cost of Living: 14.4% higher than the national average

Housing:

• Median Household Income: $69,205 • Median Home Price: $418,000 • Home Price Change: 7.6% • Home Ownership: 50% • Median Rent Price: $1,330 (for a two-bedroom apartment)

Job Market:

• Forbes List: Best Place for Business and Careers #4 • Unemployment: 2.4% • Job growth: 2.1% • Loan originator average salary: $79,311

the town with that special someone, Denver has a wide

order to preserve it for future generations. Since the

focuses on providing a sense of Southern charm, offers

serving these natural wonders and maintains attractions

baked-to-order buttermilk biscuits, grilled chicken tails,

Must-see locations

Denver, CO

passing of that act, Denver has kept their promise of presuch as Buffalo Bill’s Grave, Winter Park Ski Resort, and Summit Lake

Some of the top attractions in

(among others.) This conglomerate,

Denver, according to TripAdvisor,

known as Denver Mountain Parks, is

include Stranahan’s Colorado

a must-see for any perspective tourist

whiskey tour, the vast expanse

or resident of the area.

of Mount Evans, the Denver

Botanic Gardens, the Kirkland

Red Rocks Park & Amphitheater

Museum of Fine & Decorative

Because of a large rock placed behind a

Art, and Washington Park. If

large stage on the outskirts of the city,

you’re in the market for something

Red Rocks is the only naturally-oc-

vintage you can stop by Antique

curring amphitheater in the world.

Row, where there are 18 blocks of vintage stores, art, and independently-owned boutiques.

the largest musical acts in the world to

“I See What You Mean” sculpture at the Downtown Convention Center

Denver Botanic Gardens

This attraction, which spans more than 24 acres, pres-

ents a wide array of plants and wildlife. While exploring this expansive outdoor attraction, you will see plants

and gardens from every corner of the world that celebrate Denver’s Western identity and its connections to the rest of the United States and the rest of the world. Denver Center for the Performing Arts

This venue hosts a number of world-class events including Broadway shows, professional theater, and backstage tours. One Tony-award winning theater, Denver

Center Theater Company, offers a slew of different entertainment options.

This unique setting allows for some of

and other haute cuisine with a Southern charm. Another must-see spot, The Family Jones Spirit House, is a

collaborative project between some of the best chefs in Denver. The tasting room boasts a skylight-lit copper

still, out of which pours heavenly nectar (in the form

of booze) that you can taste at your leisure. The hybrid bar/kitchen, which is referred to as the “bitchen,” offers a combined food and beverage experience unlike many

of the resturants and bars in Denver – the focus of this spot is the food and the drink.

Attractions

In 1914, the U.S. Congress passed an act that allowed

Denver to acquire the scenic land outside of the city in

come and perform here, as past concerts have included the likes of Tame

Impala, Beck, and Stevie Nicks. It is often considered

the best venue in Colorado, and many music fanatics consider it their favorite in the country.

Coors Field, which is the #7 destination in Denver ac-

cording to TripAdvisor, has a classic feel even though it is one of the newer baseball stadiums in the country.

Home to the Colorado Rockies, sit back, relax, and take in a baseball game (weather permitting) while enjoying Coors Light, a beer that has long been associat-

ed with the Colorado Rockies (the mountains, not the baseball team.)

www.originate.report 23


UPCOMING EVENTS

Upcoming Events Don’t be left out! Showcase your upcoming event here! Contact Ruby@originate.report for more information.

AAPL Annual Conference & Exhibition November 4-6 • Las Vegas, NV www.aaplconference.com

Innovate 2019: The Up & Coming Trends January 14-15 • Newport Beach, CA www.geracicon.com

California Mortgage Association Winter Seminar February 7-8 • Newport Beach, CA californiamortgageassociation.org/events/

Fund Manager Forum 2019 February 21-22 • Washington DC www.geracicon.com

All event dates subject to change. Please visit conference websites for agendas and details. 24 Originate Report | November 2018


The UP & COMING

TRENDS Save the Date for Innovate 2019! January 14-15, 2019

Balboa Bay Resort | Orange County, CA REGISTER WITH CODE ORVIP TO RECEIVE $200 OFF

www.geracicon.com www.originate.report 25


LOAN HOME

Help Make Dreams Come True TYPES OF LOANS

AN LO M

XI M

MU www.weapproveloans.com robert@accmortgage.com (877) 349-0501

100K 3M

√ 80/30

Direct Lender

ATG Capital

www.atgcapitalfunds.com bobby@atgcapitalfunds.com Tarzana, CA

* AZ, CA, CO, CT, DE, FL, GA, IL, MD, NV, NJ, NC, PA, SC, TX, VA, WA

400K 3.5M √

65-70/ 12-18

Direct Lender

CU Business Group www.cubg.org dkroshkin@cubg.org (971) 244-6352

1M

N/A

50K 15M

√ 80/30 √

Direct Lender

Helvetica Group

100K 10M √

√ 55/30 √

CB Real CALBRE 00388229

50K

5M

√ 75/30 √

*All 50 States

75/2

2018

Direct Lender

26 Originate Originate Report Report || November November 2018 2018

Rev. 9.14.18

www.jcap.net info@jcap.net (949) 236-6600

* AZ, CA, NV

Direct Lender

JCAP Private Lending

*All 50 States

www.fidelityca.com psteigleder@fidelityca.com Peter Steigleder (818) 422-8879

www.helveticagroup.com loans@helveticagroup.com (310) 575-3301

CA, TX, WA

Credit Union Lender

Fidelity Mortgage Lenders, Inc.

* = states lending in

ACC Mortgage

MA

MI

NI

LENDER

$ U Co mm M L O AN Co erci ns al $ um e Br idg r e Co rpo r Ac at io qu ns/ isi T No tion rusts tes s a / L nd ega Pu De l E rch ve ntit lop ies Re ased me ha nts b/ Bla Re m nk od e Se t Lo eled an co s / Re n no Jo d M va int ort ted Ve ga Fo ntu ge s rei r es g Ot n Na he t i on r als MA XL oa nCh urc to-Va lue he La s (% nd / Te (B mp ) / MA a le Au tom re/ C s/ S X Te rm y o Re otive mm nag (yr erc og s) tai u l (S ial e s /L En ho ot) ter p ta s/ Ga inm Strip s S en Ma t lls Le tatio ) isu ns re Ho (G sp olf it C Mi ality our s xe d-u (Hot es/ M Re se els) ari sid Pr na I o nd e ) Ra ntia per t ustri l a ies nc I l n v h Se es a estm lf-s nd e tor F nt Re ag arm Prop sta e ert s ies u Of rant fic s e

Let lenders know you found them in Originate Report!

TYPES OF PROPERTIES WE LEND TO

AL, AK, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MO, MS, MT, NE, NH, NJ, NM, NC, OH, OK, PA, RI, SC, TN, TX, VA, WA, WV, WI, WY


PROVIDING PEACE OF MIND As a full service law firm that caters to the private lending industry, Geraci’s team of bankruptcy, banking and finance, litigation, securities, corporate, and real estate attorneys has provided our clients with peace of mind for over a decade. Let us deal with the legal side of your business—so you can stay focused on what’s really important.

28 Originate Report | November 2018

Geraci Law Firm | 949.298.8050 | www.geracilawfirm.com

Originate Report - November 2018  
Originate Report - November 2018