Jeffrey Donovan, through his company, MO Financial, Inc., originates mortgage loans that are brokered to mortgage banks, commercial banks, and credit unions. We work with both small, local portfolio lenders, as well as large national banks. The brokered loans are a mix between residential one to four-unit purchase and refinance and apartment building loans. The borrowers that we work with likely have a loan request that does not fit within the standard bank underwriting guidelines. The loan requests often have the following characteristics:
- Credit issues, such as lack or tradelines, past derogatory credit history, high consumer debt, low fico score
- High Debt to Income ratio (DTI) for the new mortgage debt requested
- High LTV/CLTV ratios—A borrower that desires the highest possible loan amount in relation to the property’s value through either a high LTV cash out first trust deed, or a simultaneously originated first and second trust deed.
- Multiple properties financed, investor loans. We can structure a mortgage debt solution that considers all properties the borrower owns looking at the entire debt picture
- Borrowers who are foreign nationals
- Low appraised value situations. If a bank has appraised a property at a low value on a purchase, less than the purchase price, we can help!
- Apartment building loans. We LOVE apartment building investors. We are very adept at structuring and placing apartment building loans for our investor clients for five unit plus properties.
MO is a relationship based lender and broker. We have developed many long term, personal relationships with the people we do business with, and look forward to building on and strengthening those relationships. We pride ourselves on honesty and integrity and helping our clients achieve their real estate financing goals.