Calendar Sunday, September 05, 2010

Become a Preferred Broker

Become an MMG Capital Preferred Broker and receive updates on guideline changes, tips for qualifying borrowers and industry news.

Submission Tips

To ensure that your loan request is processed in a timely manner, please follow these guidelines:

  1. Include all of the loan details in your executive summary
  2. Attach any relevant information (i.e. 1003, appraisals, etc.)
  3. Be available for a follow up interview within 24 hours
Submitting Your Loan

Submitting a loan scenario to MMG Capital is extremely easy. Regardless of the type of loan transaction that you would like to submit, the items required are going to be relatively similar. Loan scenarios and all attachments can be emailed to MMG Capital. Additionally, information can be faxed to (310) 436.4483.

Residential Scenarios:

  1. Executive Summary
  2. Use of Proceeds
  3. 1003 or Personal Financial Statement
  4. Indication of Value
  5. Color Photos 

Commercial Scenarios:

  1. Executive Summary
  2. Use of Proceeds
  3. Personal Financial Statement from Guarantors
  4. Profit and Loss Statement
  5. Other Indication of Value if Available
  6. Color Photos

Your Executive Summary

Your executive summary is the most important part of your loan file. It gives our loan committee a snapshot of all the pertinent information that they will need to render a decision on your scenario. A good executive summary will include most, if not all, of the following information:
  • Property Information
    • Address
    • Property Type
    • Age
    • Current Debt Structure
    • Value Information
  • Borrower Information
    • Guarantors
    • Net Worth
    • Entity or Individual Borrower
  • Use of Proceeds
  • Time Frames
  • Loan Description
    • Reason for Request
    • Exit Strategy
 

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