DIRECTORY of MEMBERS

Fidelity Mortgage Lenders is a private lender. We specialize in funding the commercial real estate loans that banks cannot do. The Bank may not make the loan because the borrower has poor credit or had a recent bankruptcy, the company (the borrowing entity) is losing money, the property is a single use property. It may be because the borrower can be an “A” Credit with a great property but just does not have the 60 to 90 days that banks will take to fund the loan. We can fund loans in less than 3 weeks and have funded some in 1 week.

We are the easiest lender that you ever deal with:
Step 1. you call us up.
Step 2. we go down to the property.
Step 3. there is no step 3

Tax returns, financial statements, income projections are for sissies. We base our decisions on the value of the property. We are your “soft” hard money lender.

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HOFFMAN BROWN CO.
5000 Van Nuys Boulevard, 6th Floor
Sherman Oaks, CA 91403

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Put simply, defeasance is a substitution of collateral. Typically, a defeasance is coordinated to close contemporaneously with a sale or refinance. The borrower uses proceeds from the refinance or sale to purchase a portfolio of U.S. government securities that is sufficient to make all of the remaining debt service payments. The securities are pledged to the lender, and the lender releases the real estate from the lien of the mortgage. The note which remains outstanding and the portfolio of securities are assigned by the borrower to an unaffiliated successor borrower who makes the ongoing debt service payments as scheduled.

The complex defeasance process involves a host of professionals, from attorneys and accountants to servicers, trustees and rating agencies. Defeasance is not a prepayment. The entire defeasance process takes 30 to 45 days on average of which 2 to 3 days are allocated to the closing process

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Mark H. Savel, AIA
Architect

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We also originate conduit loans and were PNC Bank’s second highest producer in 2006 with $220M in originations just with them. We also work closely with and have strong relationships with LaSalle, Citigroup, Artesia, Column and Bear Stearns.

Our loan terms are generally 10-year fixed rate money, but we handle shorter terms when our clients need bridge, turn-around or construction type loans. We are also able to place longer term loans (15, 20, 25 years) with our life companies.

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