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  • CH Capital LOI Letter-Rev1 Sample

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    sokcordell69
    106 vizualizări2 pagini
    The SBA 504 first mortgage loan in the amount of $3,590,992 for Builder's Choice, Inc. Meets the general terms and underwriting requirements necessary to enable the sale of 85% of this first mortgage loan through one of CH Capital Partners' investors. Formal approval will be considered at the conclusion of construction and will be subject to at least the following minimum conditions.

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    The SBA 504 first mortgage loan in the amount of $3,590,992 for Builder's Choice, Inc. Meets the general terms and underwriting requirements necessary to enable the sale of 85% of this first mortgage loan through one of CH Capital Partners' investors. Formal approval will be considered at the conclusion of construction and will be subject to at least the following minimum conditions.

    Drepturi de autor:

    Attribution Non-Commercial (BY-NC)
    Descărcați ca PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    106 vizualizări2 pagini

    CH Capital LOI Letter-Rev1 Sample

    Încărcat de

    sokcordell69
    The SBA 504 first mortgage loan in the amount of $3,590,992 for Builder's Choice, Inc. Meets the general terms and underwriting requirements necessary to enable the sale of 85% of this first mortgage loan through one of CH Capital Partners' investors. Formal approval will be considered at the conclusion of construction and will be subject to at least the following minimum conditions.

    Drepturi de autor:

    Attribution Non-Commercial (BY-NC)
    Descărcați ca PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    din 2

    February14,2011

    CHCapitalPartners,LLC 19720NWTanasbourneDrive Suite330 Hillsboro,OR97124 FBO: InvestorA 12345thAvenue Anchorage,AK99501 RE:BuildersChoice,Inc. DearInvestor; CHCapitalPartnershasacontractualrelationshipwithalloftheinvestorscurrentlyparticipatinginthe SBA504FMPProgram,assetforthbySBABillARRApassedinFeb2010,toprovidepackaging, underwriting,andcreditrecommendationsonbehalfofourinvestorsundertheSBA504FirstMortgage Pool(FMP)program. ThepurposeofthisletteristoinformyouthattheSBA504firstmortgageloanintheamountof $3,590,992forBuildersChoice,Inc.meetsthegeneraltermsandunderwritingrequirementsnecessary toenablethesaleof85%ofthisfirstmortgageloanthroughoneofCHCapitalPartnersinvestors, subjecttothefundingofthesecondmortgageDebenture.Theabilitytosell85%ofthisfirstmortgage loanapplieseithertoyou(Investorornonbanklender)shouldyouremainthefirstmortgagelender,or toanysubsequentwholeloanbuyerofthisloanprovidedtheloansaleoccurspriortoFMPpool settlement. Formalapprovalwillbeconsideredattheconclusionofconstructionandwillbesubjecttoatleastthe followingminimumconditions: Noadversechangeinfinancialconditionoftheborrowerandrelatedentities. Receiptandsatisfactoryapprovalofathencurrentfinancialandcreditpackage. Fulldisbursementofallconstructionproceeds. Evidencethattherearenounpaidmechanicsliens.
    Anestimatedependingupontherateandthepoolingmarket,CH CapitalPartnersLLCoranyofitsaffiliatesdonotguaranteeanyrateuntilthereisanestimateinthepoolerspackageorpoolers settlement.Poolscanonlybeoriginatedbyhavingatleasttwoloansusingthesameinterestrateindex,andafterthesecondlienis inplacewithColsonservices,whoisthecurrentCDCsecondlienloanpooleronbehalfoftheSBA.

    SufficientFMPprogramdollarsavailable(totalallocationof$3Bofwhichapproximately $100MMhasbeenutilizedtodate) PoolsettlementpriortoFMPexpirationdateofSeptemberof2012 ContinuedinvolvementintheFMPprogrambyourInvestorsorotherpooloriginator (Approximately25pooloriginatorsapprovedtodate)

    Excessservicingwillbequotedwithin90daysofpoolsettlement.PleaseseetheFMPrateguidance sheetforpossibleSBA504firstmortgagepricingoptions.Atthecurrentrate,excessservicingis estimatedtoyieldbetween19%and22%basedontheexcessservicingmodel*.Thisletterwillbe followedbythecommitmentfromanInvestorparticipatingintheSBA504FMPProgram. Ihaveprovidedfourdocumentsforyourreview: 1. TheInvestorsservicingagreement.Thisaddressesyourresponsibilitiesinservicingtheloanon behalfofourInvestoratthetimeofpoolsettlement. 2. TheCHCapitalPartnerssellercheatsheet.Thisexplainstheprocessofsellingthe85%gross loaninterestinaqualifyingSBA504firstmortgage. 3. CHCapitalPartnersFMPrateguidancesheet. 4. TheCHCapitalPartnersInvestorssellerquestionnaire(tobecompletedpriortoconsideration ofanyloansale). Pleasedonothesitatetocontactmewithanyquestionsyoumayhaveafteryouhavereviewedthe informationcontainedwiththisletter. Sincerely, SokCordell Sr.ManagingDirector Shareholder (AwhollyOwnedSubsidiaryOfCordellFinancialGroupCorp)

    Anestimatedependingupontherateandthepoolingmarket,CH CapitalPartnersLLCoranyofitsaffiliatesdonotguaranteeanyrateuntilthereisanestimateinthepoolerspackageorpoolers settlement.Poolscanonlybeoriginatedbyhavingatleasttwoloansusingthesameinterestrateindex,andafterthesecondlienis inplacewithColsonservices,whoisthecurrentCDCsecondlienloanpooleronbehalfoftheSBA.

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