Remington Financial Group, Inc. - How Hard Money Works.

Remington Financial Group is equipped to handle the expedited closings of 30 days or less, which makes it unique in the lending space. Our firm does it by preparing all of the necessary underwriting resources (attorneys, appraisers, etc.) to review and approve a loan very quickly.

RFG employs a lower loan to value ratio than a traditional lender might, which allows the firm to recover its investment should the need arise.

Also, Remington often times skips traditional underwriting steps, such as evaluating a borrower's credit rating or examining his experience level, as a means to progress the loan more quickly. We require a water tight appraisal of the property that ensures RFG can tolerate the high risk.

Also, RFG will always require an appropriate exit strategy. If a borrower can not share how the loan will be repaid, in reasonable terms, we will not make the deal. Remington Financial Group has no interest in taking possession of a property and does not view foreclosure as a suitable exit strategy, but we can work with you to identify an appropriate strategy.

Remington Financial Group, Inc. - Benefits of Hard Money to a Commercial Broker

In the course of a commercial broker's career, the need for a hard money loan will most definitely arise. By forging a solid relationship with a hard money source, a broker has a resource to serve clients in need of a fast-closing loan. Keep in mind, too, that Remington Financial Group values brokers and is broker friendly.

Remington Financial Group - Loan Process 

1. Submit Business Plan / Executive Summary
2. Pre-qualification determination process - project is reviewed and evaluated resulting in:
   • the project being accepted
   • proposed revisions being issued for the project
   • the project being declined
3. Lender / Investor conceptual interest is obtained along with projected terms and the proposal is issued
4. Due-Diligence document checklist of typically requested data is prepared and sent to client
5. Analysis of all documents, preparation and packaging of the data for submission to designated lender/investor;
   formal due-diligence commences
6. Term Sheet/Conditional Commitment and/or Firm Commitment issued
7. After Term Sheet/Conditional Commitment and/or Firm Commitment are accepted, a site visit and market analysis will commence
8. Closing | Capitalization | Funding