Search for project
More than 2000 projects issued through our platform and this
amount increases very fast.
Specialized/customized private mortgage insurance (ID:5622)
| Project Creator: |
hfi1234
FC Member For 5800 Days
Credits 20 Completed Proj. Num. 0 / 0 Total payment USD 0.00 Avg Daily Online 0.00 h (From 21/5/2007) Available on MSN/Skype No Last Login 4/9/2009 Peers Rating 0.00% 
|
|---|---|
| Budget: | Not Sure/Confidential |
| Created: | 4/9/2009 9:46:48 AM EST |
| Bidding Ends: | 6/8/2009 9:46:48 AM EST ( Expired ) |
| Development Cycle: | 60 Days |
| Bid Count: | 1
|
| Average Bid: | 15.00 |
| Project Description:
Hello, My name is Daniel Haynes from Haynes Financial Investments, llc or HFI, a newly established Hard Money lending company based out of Charleston, SC. I?? writing today because I?? looking for a Company, group, broker, or associate individual that we can work directly with to provide our company with ??pecialized/customized private mortgage insurance???? About HFI: Hfi is an up and coming real estate equity based hard money funding company that will specialize in quick, short term, hard money funding against deeply discounted, equity secured real estate investment properties, both residential, and commercial. What we are looking for: Hfi is looking for an experienced company or associate that can assist or work with us in establishing, organizing, structuring, and implementing my new hard money lending business by providing us with ??pecialized/custom private mortgage insurance???? backed by a top rated bank or institution. This insurance can be supported by any type of mortgage security, such as a; bond, financial guarantee, sblc, or any other type of, top grade debt securities. Hfi needs a company that can protect and insure our lenders against their invested principle, interest, and any foreclosure fees that may occur if a borrower was to ever default on a loan, by having this type of protection, this allows Hfi, and its lenders the ability to provide more loans, at better rates generating more business for Hfi, our lenders, and ultimately the insurer. Our private mortgage request is very different compared to standard private mortgage insurance, because it is based on the insurers????ability to guarantee full repayment of the lenders invested principle, interest, and any foreclosure fees that may occur with a defaulted loan. We need a company that has the ability insure both low to high risk investors. Hfi will analyses and approve each borrower based on their credit, experience, skills, ability, collateral being funded, along with our confidence and comfort level to fund each loan. The insurer will be secured and back by the collateral that?? being funded along with a minimum of 45% or more secured equity within each transaction, this provides the insurer with solid collateral and an ample amount of equity within each transaction, thus allowing the insurer the ability to gain and recoup their lost if any claim is filed by the lender against any policy that may go into default. The type of funding structure that we will be offering our borrowers: Hfi would like to provide our borrowers with easy and secure hard money funding services; this can be done by setting up solid funding requirements and guideline structures. I have listed below is a simple initial funding layout/platform on the type of funding service that I would like to offer my borrowers/clients. ????Credit/Fico ????minimum 550 ????Property type - both residential and Commercial ????Collateral ????title /trust deed to the property, business entity, either llc or trust, with a minimum of 45% equity or more in each insured transaction. ????Loan term ????Six months, but extendable to 13 months ( we need a company that can insure each transactions up to a 13 month duration term if needed) ????Minimum/Maximum loan amount $25,000 - $50,000,000 ????Advance rate ????up to 100% project cost (including property purchase, rehab cost, six months pre-paid interest, closing cost, and etc...) not to exceed 65% of the ARV. ????Documents need ????Appraisal/comps, pictures of property, summary of rehab/work to be completed, home inspection, insurance, purchase agreement, and etc???? ????Guarantee ????personal guarantee required, will close in the name of a business entity or trust. Hfi is seeking an individual or company that we can work with direct to provide us with this ??pecialized/custom private mortgage insurance???? to protect and back all of our collateral secured hard money funding transactions. We are looking for a service provider that has the skills and ability to provide us with our request within a quick and timely manner, at the lowest possible wholesale rate they can offer us. Hfi is looking to develop and build a long term business relationship, so if you are interested and would like to discuss more in depth on how we can work together, please advise at your earliest convenience on your interest. Thanks, |
|
| Job Type | |
| Attached Files: | 20090409094619.doc |
