GMC Hard Money Announces it will portfolio all hard money assets
GMC Hard Money is satisfied to announce that it has completed negotiations with two large investment portfolios to accept 100% of the hard money origination of GMC. GMC began discussions to portfolio its hard money loan business back in January of this year in light of forecasting the eminent turbulence that would occur within the secondary and securitization markets due to the sub-prime debacle.
This move secures GMC Hard Money with ample capital and autonomy to gain market share in the hard money space while the majority of its competitors rely on the secondary market, which has proven to be unreliable at best in the past several months.
With the lack of liquidity on Wall Street for newly originated mortgage product, GMC Hard Money feels that this move was essential and necessary in order to preserve its broker relationships and maintain its service levels and loan pricing.
Many hard money lenders have been forced out of business or had to drastically reduce staff and infrastructure, thereby decreasing service levels. Having the ability to keep these loans on the books means that GMC Hard Money remains one of few hard money lenders that can actually close and fund loans with no reliance on the movements of the rest of the mortgage marketplace.
GMC Hard Money has added many additional sales staff, some of which has come over from former competitors in the hard money space, to provide our broker clients the service and execution they deserve.
GMC Hard Money lends in approximately two dozen key states with LTV’s up to 70% in certain areas of the country. To discuss a loan scenario or to just find out more about GMC Hard Money, please visit our website at http://www.gmchardmoney.com/ or just give us a call at (954) 332-3567.
GMC Hard Money is satisfied to announce that it has completed negotiations with two large investment portfolios to accept 100% of the hard money origination of GMC. GMC began discussions to portfolio its hard money loan business back in January of this year in light of forecasting the eminent turbulence that would occur within the secondary and securitization markets due to the sub-prime debacle.
This move secures GMC Hard Money with ample capital and autonomy to gain market share in the hard money space while the majority of its competitors rely on the secondary market, which has proven to be unreliable at best in the past several months.
With the lack of liquidity on Wall Street for newly originated mortgage product, GMC Hard Money feels that this move was essential and necessary in order to preserve its broker relationships and maintain its service levels and loan pricing.
Many hard money lenders have been forced out of business or had to drastically reduce staff and infrastructure, thereby decreasing service levels. Having the ability to keep these loans on the books means that GMC Hard Money remains one of few hard money lenders that can actually close and fund loans with no reliance on the movements of the rest of the mortgage marketplace.
GMC Hard Money has added many additional sales staff, some of which has come over from former competitors in the hard money space, to provide our broker clients the service and execution they deserve.
GMC Hard Money lends in approximately two dozen key states with LTV’s up to 70% in certain areas of the country. To discuss a loan scenario or to just find out more about GMC Hard Money, please visit our website at http://www.gmchardmoney.com/ or just give us a call at (954) 332-3567.
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