Broker’s
Referral Program
ENROLLMENT KIT
B
rookview
F
inancial
financing rehab investors nationwide Since 1992(877) 734-2211 • www.brookviewfinancial.com
About
Brookview Financial
Brookview Financial is a national rehab lender, specializing in forming successful financing and mentoring relationships with rehab investors at all levels of experience.
A
s a "relationship lender," we believe that it is just as important for borrowers to know their lender, as it is for us to know our borrowers. After all, the ability to make "quick-close" offers without financing contingencies is dependent upon the swiftness and reliability of the investor's capital. An investor's reputation is built on being able to close quickly with confidence! Since 1992, our mission at Brookview Financial has been to support our cus- tomers' sucess. We offer a program designed specifically for the rehab in-vestor that includes features such as:We also pledge full customer care and support throughout the entire process, assigning a National Account Manager who is accessible from the pre-qualifica-tion stage to closing for each loan. In es-tablishing a relationship with Brookview Financial, investors will find a lender who understands the steps to successful re-habbing. Providing prompt and reliable capital fuels the growth of our clients' business; business that we aim to sup-port with industry knowledge and out-standing customer service. The success of our rehab investors, coupled with the strength of capital we provide as a direct lender, achieve a shared and ultimate goal of revitalizing communities, encour-aging home ownership and increasing the supply of affordable housing nation-wide. We invite qualified investors to join us in this endeavor.
• Purchases & Rehab Funds • Proof of Funds Letters • No prepayment penalties • Loans 65% ARV • Quick closings STATES: Alabama California Colorado Connecticut Delaware Florida Georgia Illinois Indiana Kentucky Louisiana Maine Maryland Massachusetts Michigan Mississippi Minnesota Missouri New Hampshire New Jersey New Mexico New York North Carolina Ohio Oklahoma Pennsylvania Rhode Island South Carolina Tennessee Texas Utah Virginia Washington, DC Washington Wisconsin Contact us Today at [email protected]
or visit us online at: www.brookviewfinancial.com
Brokers
Connect with Brookview
Why join the Brookview Financial Broker Referral Program?
It’s
EASY!
ONE-TIME
Prequalification!
COLLECT
residual income for years!
PERSONAL
support from Brookview!
Our program has been designed to provide borrowers
accross the country with unique rehab lending options to
meet the specific needs of their rehab clients.
A Win-Win Situation!
By becoming a member of the Brookview Broker Program,
you are able to connect your rehab clients with a National
direct lender that provides fast, reliable capital and
encourages the rebuilding of distressed properties in U.S.
communities. We value our broker circle and are committed
to engaging in professional and successful partnerships.
You can rest assured that your client is in good hands --
Brookview has a long history of financing rehab
investors NATIONWIDE, and we know what it takes
for real estate investors to succeed!
Fill out the Referral AgreementFill out the Pre-Qualification Worksheet
When your referred client gets approved AND closes a loan, COLLECT INCOME!
3 SIMPLE STEPS!
Questions? Call (877) 734-2211 or visit us online at www.brookviewfinancial.com
To Sign Up
BROOKVIEW FINANCIAL BROKER’S REFERRAL AGREEMENT
THIS AGREEMENT (“Agreement”) is to confirm the arrangement between Brookview Financial, Inc., or its
designee, (”Brookview”) and the undersigned (”Referrer”) in connection with referral of Eligible Borrowers to Brookview ( “Referral Program”).
Whereas, Brookview is in the business of providing acquisition and rehabilitation financing to real estate
investors; and Whereas, Referrer is a mortgage banker, mortgage broker or real estate broker that is duly licensed, in good standing and is interested in referring potential borrowers to Brookview (each a “Potential Borrower”);
Term: The term of this Agreement will begin when signed by both Brookview and Referrer and will end when
terminated by either party. Either party may terminate this Agreement at any time, with or without cause, by giving the other party written notice of termination. Referrer is only entitled to earn Referral Compensation on loans closed and funded during the term of the Agreement and for 60 days following termination.
Submission of Eligible Referrals: This agreement and Form W-9 must be signed and submitted to participate in
the Referral Program. Referrer shall submit only Potential Borrowers who Referrer believes meet the lending
criteria set forth in the Pre-Qualification Guidelines. To submit a Potential Borrower to Brookview (a “Referral”), Referrer shall complete a Pre-Qualification Worksheet for the Potential Borrower, including the Property section if applicable, and shall submit it to Brookview by facsimile or email. Referrer may submit any Potential Borrowers meeting Brookview lending criteria for approval even if they do not currently have a specific property acquisition to be funded.
Acknowledgement of Referral: Referrer will receive acknowledgement from Brookview, via email, confirming
Brookview’s receipt of the Referral, and indicating whether the Potential Borrower stated in such Referral is eligible for this Referral Program. Any Referral of a Potential Borrower, which is determined by Brookview to be eligible for this Referral Program, and is not ineligible, as defined below, is referred to as an “Eligible Referral.”
Completion of Referral: Upon receipt of email acknowledgement from Brookview that Referral is eligible, the
Borrower will be contacted by Brookview to complete the qualification and application process.
Ineligible Referrals: Current Brookview customers, together with persons in past or current association with
Brookview customers, and any Eligible Referral for which Brookview does not close and fund the first loan within twelve (12) months from submission of the applicable Eligible Referral to Brookview, are ineligible for the Referral Program set forth in this Agreement. Customers already associated with any other Brookview Affiliate programs are ineligible for this program. In the event that two or more Referrers refer a Potential Borrower, Brookview will accept the first Referral received, unless instructed otherwise by the Potential Borrower.
Referral Compensation: If Brookview closes and funds a loan to an Eligible Referral, Referrer shall receive a
referral payment (”referral payment”) in an amount determined as follows:
Brookview agrees to pay half a point with respect to the first loan closed and funded from Brookview to such Eligible Referral.
Brookview agrees to pay half a point with respect to any subsequent loans to the same Eligible
Referral, provided each subsequent loan is closed and funded within twelve (12) months of the previous loan’s
closing.
The Referral Payment shall be promptly paid to Referrer, by check delivered usually within 30 days of loan closing. All Referral Payments will be made payable to the party signing this Agreement and named in the Form W-9. Confirmation may be required.
to sign up (cont’d)
Modifications: Brookview reserves the right to modify or supplement the terms of the Referral Program at any
time, including, without limitation, the procedure and eligibility requirements set forth herein, provided that Referrer will be notified in writing of any such modifications. Referrals received and acknowledged by Brookview prior to such modifications will be addressed pursuant to the Referral Program terms in force at the time the Referral was received by Brookview. IF ANY MODIFICATION OF THIS AGREEMENT IS UNACCEPTABLE TO YOU, YOUR ONLY RECOURSE IS TO TERMINATE THIS AGREEMENT. YOUR CONTINUED PARTICIPATION IN THE PROGRAM FOLLOWING SUCH CHANGE WILL CONSTITUTE BINDING ACCEPTANCE OF THE CHANGE.
Authorized Signature: Print Name: Date of Signature: Contact Phone Number: Company Name: Brookview Acceptance: Mailing Address:
Email Address:
Please check one: Mortgage Banker Mortgage Broker Realtor Other How did you hear about Brookview?
QUESTIONS, EMAIL US AT [email protected] OR CALL 877-734-2211 PLEASE COMPLETE AND FAX TO BROOKVIEW FINANCIAL 203-907-4588
Rehab Program Guidelines
Brookview Financial
Call us Toll-Free at (877) 734-2211
www.brookviewfinancial.com
Whether you are a novice or an experienced rehabber,
we have a loan program to fit your business goals!
Loans closed in name of business entity.
GUARANTEE:
Personal guarantee required.
QUICK FUNDING: Once a borrower has been approved, funding of individual transactions is quick.
PROPERTY TYPE: Residential 1 - 4 Family, non-owner occupied .
LIEN POSITION:
First mortgage only.
RENOVATION
FUNDS:
100% of renovation funds are typically advanced in 1 to 4 draws. Once inspector
certifies work is done, funds are wired directly to the investor’s account.
LOAN TERM:
6 months; extendable
ADVANCE RATE: Options up to 100% of project costs. Minimum loan amount $50,000.
LTV:
Up to 65% of After-Repaired Value.
QUALIFYING
DOCUMENTATION: Completed Investor Assessment Form
LOAN
DOCUMENTATION:
(For each loan)
•• Purchase Agreement (signed by both parties)Summary of Rehab Work to be Completed (Brookview form)
•
Pictures of the Rehab Property (outside, each room, street)
•
Home Inspection
•
Brookview’s Deal Submission Form
3 Months of Bank Statements
•
2 Years of Tax Returns
•
3 Most Recent Pay Stubs
•
Signed 4506-T
B
rookview
F
inancial
financing rehab investors nationwide Since 1992
Building
Your Rehab Business
with
Brookview
At Brookview Financial, we understand that and have created an investor program for today's real estate market!
-Quick Closings -No Prepayment Penalty -Proof of Funds Letters -Discounts on Education
***Max LTV is 65%
* Buydown Program—Borrowers have the option of “buying down” their rate or points in exchange for additional reserves as follows: For an additional 10% reserve, Borrower may elect to either buy down the rate by a full percentage (e.g. a buydown to 12.99% from 13.99% for qualifying Platinum Members), or buy down the points by ½ (e.g. a buydown to 3 from 3½ for qualifying Platinum Members). For an additional 15% reserve, Borrowers may buy down both the rate by 1% and the points by ½.
(1) For Borrowers who are doing a deal outside of their state of residence, or are potentially not refinanceable for take-out financing. Subject to other underwriting criteria.
(2) For Borrowers who meet all of Brookview's standard underwriting requirements. Terms subject to our standard underwriting criteria and due diligence, and subject to change.
Standard
Program Investor RecoveryProgram
Points
Interest Rate Advance % (On total purchase and rehab costs)
Max LTV (Based on After-Repaired Value) General Reserve Interest Reserve Credit Score Activation Fee 3½-4* 4½-5* 13.99%-14.99%* 14.99%-15.99%* 100% 100% 60%(1)-65%(2) 60%(1)-65%(2) 12.5% 30%
6 months prepaid 6 months prepaid
660 or above Below 660
