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I recently came across a "reinsured" 95% no doc loan with a $5 million minimum loan amount from a lender. The 5 percent down payment would be sourced and put into escrow and could be returned at closing. I decided to broker this loan. I wanted to find out if anyone has heard of this type of loan. If you have please share and If this is a good loan and if anyone is interested in brokering this loan with me, please contact me for arrangements. I look forward to your feedback and inquiries.
Thank you,
Dan Mansour
Marquis Financial Group llc
800-840-0603
Listed below are the guidelines and faq I have compiled:
Guidelines
95% Commercial Loan Guidelines
As a project finance & alternative capital borrower, you receive both the loan & the down payment plus all fee’s back upon funding. (100% Funding)
Loan Guidelines
ONLY 5% DOWN
LOAN FULLY INSURED
2-10 YEAR TERM
5% FIXED APR
ALL PURPOSE LOANS
INTEREST ONLY TERMS
DOMESTIC & INT’L
CLOSING 12-15 DAYS
Program Benefits
NON-RECOURSE
NO 50%-80% LTV
NO LIENS
NO CREDIT CHECK
NO APPRAISALS
NO FINANCIALS
NO TAX RETURNS
NO COLLATERAL
NO LIMITATIONS
WHAT WE NEED:
1.Completed Loan Application
2.Brief (1 Page) Exec Summary
3.POF-Snapshot of Borrowers Bank Account for Proof of the (5%) Down Payment.Principle Borrowers only!
DOWN PAYMENT: (this pays for premium insurance policy on loan.)
$5M to $20M = 5% down
$21M to $200M = 4% down
$200M $1B = 3% down
POINTS: (Points are added to your loan amount to come out of loan proceeds.)
$5M — $7.4M = 8%
$7.5M — $50M = 7%
$51M — $199M = 6%
$200M — $850M = 5%
ENGAGEMENT FEE: (Fees are to prevent fake documents & credited back to client at funding.
$5M – $50M = $10K
$50M – $99M = $25K
$100M – $199M = $75K
$200M – $299M = $100K
After verification of sent fee with FEDERAL REFERENCE NUMBER, main broker will Submit your Info to our Lender and within 24 Hrs., Lender will Prepare a FINAL LOAN CONTRACT which will be forward to you.
*Once the Loan Contract has been reviewed, executed and returned to lender, we then will forward Lenders Wire information for Immediate Wire of the (%) to His Corporate Account, after receipt confirmed with a FEDERAL REFERENCE NUMBER & within 7-12 Days Lender willWire your Loan to your Bank Account.
Marquis Financial Group Dan Mansour 800-840-0603
We DO NOT want or take any equity from your project
We DO NOT provide references just to satisfy a broker or clients curiosity nor will we provide your information toothers!
We DO NOT modify the wording of our documents
We DO NOT enter into conference calls prior to receiving all required completed documents!
We DO NOT submit any information to lender without required completed documents!
We DO NOT create LOI’s prior to receiving the required completed documents
ALL TERMS ARE NON NEGOTIABLE
The process to insure the funds takes approx. 3 days.
CLOSING COMPLETED in 12-15 Days Start to Finish.
All fees will be added to loan amount.
All clients receive 100% of the amount requested.
WARNING: PLEASE BE ADVISED IF WE RECEIVE ANY KIND OF FRAUDULENT DOCUMENT, THE ISSUER WILL BE HELD LEGALLY LIABLE FOR A FEDERAL CRIME AND IN THE END WILL BE REFERRED TO THE F.B.I., S.E.C., C.I.A. AND SECRET SERVICE FOR CRIMINAL INVESTIGATION AND PROSECUTION
_________________________________________________________________________________________________________
Faq
Marquis Financial Group, LLC 800-840-0603
Frequently Asked Questions
pg. 1
1. Are the funds legal?
Yes, the lender is a registered company based in the United States.
2. Can I choose the firm to hold on to the 5% Premium Insurance Payment?
No, your money is held in an escrow account in trust of the lender’s attorney. As the policy is issued to the lender, only they are permitted to purchase the policy. However, they are not permitted to access the funds from the account until the policy is issued. This process is necessary to protect all parties involved.
3. What if I don’t have the funds for the 5% Premium Insurance Payment?
We offer Bridge Funding. This type of funding allows you to finance the 5% payment required by using a third-party lender to help bridge the funds. If your loan is approved by the lender, the bridge funding will also be automatically approved. The cost of the bridge funding is 30% of your 5% payment. For example, on a $5,000,000 loan there is a 5% payment to insurance which is equivalent to $250,000. The cost of the bridge funding will be 30% of the payment, which is $75,000. Therefore, the cost of premium insurance will be $325,000.
4. How is the insurance company protected?
This is an asset-based loan. The loan is protected by the insurance premium, which is backed by the real-estate or business you intend to purchase.
5. Is this a non-recourse loan?
Yes, only the asset is considered when applying for the loan. There is no personal liability.
6. Is there a penalty if I choose to pay the loan off early?
There is a 3% pre-payment penalty should you decide to pay off the loan before the note is due.
7. Are there any tax implications?
Please consult with your accountant or financial advisor regarding taxation questions.
8. Will the debt show up on my personal credit report?
No, you are not personally guarantying the loan so it will not show up on your personal credit report.
Marquis Financial Group, LLC 800-840-0603
Frequently Asked Questions
pg. 2
9. Can I get a commitment letter?
No, a commitment letter will not be provided. Once approved the contract will be drafted with full
terms and conditions of the loan including payment schedule and loan guidelines to be signed by
both parties before any transfers of funds are made.
10. What is the engagement fee?
The engagement fee is a monetary commitment from the borrower to move forward with the loan.
Once the loan program and guidelines have been made known, the engagement fee is expected
to be paid to start the approval process. If your loan is not approved the engagement fee will be
refunded to you. If you cancel the loan during this process, for any reason, the engagement fee
becomes non-refundable and is therefore forfeited.
11. How do I figure out the monthly payment?
This is an interest-only loan at an annual percentage rate of 5%. For example, $5 million multiplied
by 5% divided by 12 equates to the monthly interest-only payment of $20,833.34. The terms of
the loan can be set from a two- to ten-year period with a balloon payment due at the end of the
term.
12. What happens if I default?
In the event that you are not able to perform on this loan and are subject to default, you will receive
written notices from the lender. It is highly advised to communicate your challenges with the lender
to come up with a solution together. If there is no resolve and the loan is non-performing, the
lender will file a claim with the insurance company. At that point the insurance company will pursue
the asset that secured the loan.
13. What happens if I sell the asset before maturity date?
You will be responsible to pay an early 3% pre-payment penalty. You have the option to move
the loan to another asset if you are provided written consent from the lender. Additional fees may
apply.
Thank you,
Dan Mansour
Marquis Financial Group llc
800-840-0603
Listed below are the guidelines and faq I have compiled:
Guidelines
95% Commercial Loan Guidelines
As a project finance & alternative capital borrower, you receive both the loan & the down payment plus all fee’s back upon funding. (100% Funding)
Loan Guidelines
ONLY 5% DOWN
LOAN FULLY INSURED
2-10 YEAR TERM
5% FIXED APR
ALL PURPOSE LOANS
INTEREST ONLY TERMS
DOMESTIC & INT’L
CLOSING 12-15 DAYS
Program Benefits
NON-RECOURSE
NO 50%-80% LTV
NO LIENS
NO CREDIT CHECK
NO APPRAISALS
NO FINANCIALS
NO TAX RETURNS
NO COLLATERAL
NO LIMITATIONS
WHAT WE NEED:
1.Completed Loan Application
2.Brief (1 Page) Exec Summary
3.POF-Snapshot of Borrowers Bank Account for Proof of the (5%) Down Payment.Principle Borrowers only!
DOWN PAYMENT: (this pays for premium insurance policy on loan.)
$5M to $20M = 5% down
$21M to $200M = 4% down
$200M $1B = 3% down
POINTS: (Points are added to your loan amount to come out of loan proceeds.)
$5M — $7.4M = 8%
$7.5M — $50M = 7%
$51M — $199M = 6%
$200M — $850M = 5%
ENGAGEMENT FEE: (Fees are to prevent fake documents & credited back to client at funding.
$5M – $50M = $10K
$50M – $99M = $25K
$100M – $199M = $75K
$200M – $299M = $100K
After verification of sent fee with FEDERAL REFERENCE NUMBER, main broker will Submit your Info to our Lender and within 24 Hrs., Lender will Prepare a FINAL LOAN CONTRACT which will be forward to you.
*Once the Loan Contract has been reviewed, executed and returned to lender, we then will forward Lenders Wire information for Immediate Wire of the (%) to His Corporate Account, after receipt confirmed with a FEDERAL REFERENCE NUMBER & within 7-12 Days Lender willWire your Loan to your Bank Account.
Marquis Financial Group Dan Mansour 800-840-0603
We DO NOT want or take any equity from your project
We DO NOT provide references just to satisfy a broker or clients curiosity nor will we provide your information toothers!
We DO NOT modify the wording of our documents
We DO NOT enter into conference calls prior to receiving all required completed documents!
We DO NOT submit any information to lender without required completed documents!
We DO NOT create LOI’s prior to receiving the required completed documents
ALL TERMS ARE NON NEGOTIABLE
The process to insure the funds takes approx. 3 days.
CLOSING COMPLETED in 12-15 Days Start to Finish.
All fees will be added to loan amount.
All clients receive 100% of the amount requested.
WARNING: PLEASE BE ADVISED IF WE RECEIVE ANY KIND OF FRAUDULENT DOCUMENT, THE ISSUER WILL BE HELD LEGALLY LIABLE FOR A FEDERAL CRIME AND IN THE END WILL BE REFERRED TO THE F.B.I., S.E.C., C.I.A. AND SECRET SERVICE FOR CRIMINAL INVESTIGATION AND PROSECUTION
_________________________________________________________________________________________________________
Faq
Marquis Financial Group, LLC 800-840-0603
Frequently Asked Questions
pg. 1
1. Are the funds legal?
Yes, the lender is a registered company based in the United States.
2. Can I choose the firm to hold on to the 5% Premium Insurance Payment?
No, your money is held in an escrow account in trust of the lender’s attorney. As the policy is issued to the lender, only they are permitted to purchase the policy. However, they are not permitted to access the funds from the account until the policy is issued. This process is necessary to protect all parties involved.
3. What if I don’t have the funds for the 5% Premium Insurance Payment?
We offer Bridge Funding. This type of funding allows you to finance the 5% payment required by using a third-party lender to help bridge the funds. If your loan is approved by the lender, the bridge funding will also be automatically approved. The cost of the bridge funding is 30% of your 5% payment. For example, on a $5,000,000 loan there is a 5% payment to insurance which is equivalent to $250,000. The cost of the bridge funding will be 30% of the payment, which is $75,000. Therefore, the cost of premium insurance will be $325,000.
4. How is the insurance company protected?
This is an asset-based loan. The loan is protected by the insurance premium, which is backed by the real-estate or business you intend to purchase.
5. Is this a non-recourse loan?
Yes, only the asset is considered when applying for the loan. There is no personal liability.
6. Is there a penalty if I choose to pay the loan off early?
There is a 3% pre-payment penalty should you decide to pay off the loan before the note is due.
7. Are there any tax implications?
Please consult with your accountant or financial advisor regarding taxation questions.
8. Will the debt show up on my personal credit report?
No, you are not personally guarantying the loan so it will not show up on your personal credit report.
Marquis Financial Group, LLC 800-840-0603
Frequently Asked Questions
pg. 2
9. Can I get a commitment letter?
No, a commitment letter will not be provided. Once approved the contract will be drafted with full
terms and conditions of the loan including payment schedule and loan guidelines to be signed by
both parties before any transfers of funds are made.
10. What is the engagement fee?
The engagement fee is a monetary commitment from the borrower to move forward with the loan.
Once the loan program and guidelines have been made known, the engagement fee is expected
to be paid to start the approval process. If your loan is not approved the engagement fee will be
refunded to you. If you cancel the loan during this process, for any reason, the engagement fee
becomes non-refundable and is therefore forfeited.
11. How do I figure out the monthly payment?
This is an interest-only loan at an annual percentage rate of 5%. For example, $5 million multiplied
by 5% divided by 12 equates to the monthly interest-only payment of $20,833.34. The terms of
the loan can be set from a two- to ten-year period with a balloon payment due at the end of the
term.
12. What happens if I default?
In the event that you are not able to perform on this loan and are subject to default, you will receive
written notices from the lender. It is highly advised to communicate your challenges with the lender
to come up with a solution together. If there is no resolve and the loan is non-performing, the
lender will file a claim with the insurance company. At that point the insurance company will pursue
the asset that secured the loan.
13. What happens if I sell the asset before maturity date?
You will be responsible to pay an early 3% pre-payment penalty. You have the option to move
the loan to another asset if you are provided written consent from the lender. Additional fees may
apply.
