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What Is the Ability to Repay Rule?
In the early and mid-2000s, mortgage lenders were handing out loans without the notion that they would ever be successfully paid in full. This, along...
2 min read
Ted Spradlin
:
Jul 8, 2022 8:43:40 AM
First Capital Trust Deeds is a California-based mortgage broker specializing in mortgages for real estate investors, including Private Money, NonQM, Conventional, and Bank Portfolio programs. FCTD holds broker and/or lender licenses in five states:
In Oregon, the company operates under the dba First Capital Funding, Inc., with a branch office in Bend. I am the broker of record in all the states that FCTD operates in and I’m also the licensed MLO in Oregon.
Over the years, I’ve worked with several mortgage funds, lenders, trust deed investors, and real estate attorneys, often based in California, to facilitate Oregon private money loans on residential 1-4 unit properties.
In addition to being the licensed MLO, my staff and I provide the following assistance to private lenders and trust deed investors:
What are the Pricing and Fees to be the MLO on a Loan?
Depending on the scope of work, the usual fee ranges from 0.50% to 1.00% of the loan amount. If FCTD drafts loan docs through Geraci’s portal, there will be an additional $1095 Doc Prep Fee.
Since this is on my individual and company licenses, surety bond, E&O insurance, etc, I am involved in the process, communicating with the borrower from application to the close of escrow.
Inquire about Oregon Licensed MLO
If you’re a lender who needs an Oregon licensed private money MLO to originate your loan in Oregon, please call 503-891-4205 or email ted@fctd.com to discuss the loan.
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