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:
- California DRE Broker 0194731 & California DFPI Broker 60DBO-135111
- Oregon DFCS Lender: ML-5416
- Washington DFI Broker: MB-1165726
- Idaho MBL Broker: 20181165726
- Florida OFR Broker: MBR4554
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:
- Application
Take application from borrowers
- Borrower Disclosures
Oregon-specific borrower disclosures
- Lender Disclosures
Plus full loan file for your records
- Loan Docs
FCTD utilizes the Geraci Law Firm’s online doc portal, Hot Docs, which provides state-specific loan docs. The Deed of Trust in California and Oregon are different. Some lenders modify the language in their California DOT while others prefer to have FCTD draft docs in Geraci’s portal.
- Escrow Contacts
Some lenders doing a 1-off loan in Oregon often ask for an excellent escrow officer or contact to a specific title company they like to work with.
One lender only wants to work with a specific national escrow company because they understand the way their fund is structured while another refuses to work with a different title company over previous coverage insurance. I know several excellent title and escrow officers to refer.
- Appraiser and BPO Contacts
Local appraisers (if you don’t need to order through an Appraisal Management Company (AMC)) and local Realtors for Broker Price Opinions (BPO).
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.
