What information is necessary to move loans from Evaluating to Qualified?

Lenders are required to enter the following information in order to move from ‘Evaluation’ to ‘Qualified’:

Property

• Property Type
• Street Address, City, State, Zip Code
• Number of Properties
• Loan Purpose
• Loan Strategy
• Purchase Price of Property (if Loan Purchase = Acquisition)
• Lender As-Is Valuation
• Lender ARV (Remaining Construction Reserve > 0)
• Projected Rehab Budget

Loan

• Note Origination
• Loan Origination Date (if Note Origination = Funded)
• Loan Maturity Date (if Note Origination = Funded)
• Term (if Note Origination = Funding into Origination or Table Funding)
• Lien Position
• Interest Rate
• Target Lender Spread
• Fully Funded Amount
• Total Construction Reserve (if applicable)
• Interest Reserve (if applicable)
• Other Reserves (if applicable)
• 2nd TD Holder (if applicable)
• 2nd TD Amount (if applicable)
• Remaining Construction Reserve (if applicable)
• Pari Passu Amount
• B-Piece Amount

Borrower

• Borrower Type
• Recourse (if Borrower Type = Entity)
• Borrower/Guarantor FICO
• Sponsor Track Record

Note: Loans that fall outside our underwriting guidelines, are subject to review by our Investment Committee.