Loan Officer Questionnaire - TaliMar Financial

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Select loan officer entering data

What is your name? *

First

Last

Enter the name of the person calling in.

Are you working with anyone at TaliMar Financial *

If yes, who? *

Enter e-mail address

Enter phone number

Are you the Broker or Borrower? *

Broker
Borrower

If representing the Borrower and not being paid, then select Borrower.

Qualifying Questions

Explain, you have couple of qualifying questions before you get into the details of the loan request.

What type of loan are you requesting *

Fix and Flip
Bridge
New Construction
30 Year Rental

Don't offer the 30 Year Rental at this time. They are very difficult to approve.

Would this be a first position loan? *

Is this a purchase or refinance? *

Purchase
Refinance

Is the property currently (if refinance) or will (or purchase) be owner occupied? *

We do not fund Owner Occupied properties, even if for Business Purpose. Owner Occupied loans, even for Business Purpose loans, still fall under owner occupied foreclosure protections.

Is the Subject Property in California *

We do not fund loans that are not in California. If Broker, be sure to get the Broker information.

Is the existing loan(s) in good standing? *

We do not generally fund refinances in which the existing loan(s) are not in Good Standing.

Are you aware of any late payments in the last 12 months? *

We do not generally fund refinances in which the existing loan(s) are not in Good Standing.

Does the Principal(s) have a credit score greater than 675 *

We do not generally fund loans for Borrowers with a credit score below 675. If the Borrower has a strong explanation, we will consider.

Has the Borrower BK'ed in the last 5 years? *

We do not generally fund loans for Borrowers with a BK in the last years. If the Borrower has a strong explanation, we will consider.

What is the property type? *

Single Family Home (1 unit)
Single Family Home (2-4 unit)
Multi-Family (5+)
Manufactured
Office
Retail
Industrial
Mixed Use
Land
Other

Other *

Address

Address Line 1

Address Line 2

City

State

Zip Code

How many units? *

How many beds *

How many baths *

What is the approximate value of the property? *

Ask if the loan is a refinance.

Will the property being earning income at the time of the loan closing? *

What is the approximate gross income? *

Are you aware of any Building Code violations on the property? *

If yes, please explanation. *

Are you aware of any Environmental concerns with the property? *

If yes, please explain. *

Is there anything else that I should know about the property? *

Does the Borrower own any other property? *

Ask the question to see if there would be additional collateral to secure the loan and to further establish business purpose.

Are there multiple loans on the property? *

If yes, enter the number loans *

Request information on the new loan

What is the amount of the [first] loan?

If only one loan, simply ask, What is the amount of the loan?"

Do you know the approx payment?

Is this a bank loan or private money loan? *

Bank Loan
Private Money Loan

Is the loan in good standing? *

Good standing refers to if the loan is in default. Default occurs to late payments, maturity default, and/or other borrower / related issues?

Has the borrower had any late payments over the last 12 months? *

Borrower late payments is a good predictor of the future performance of a loan. Generally we want to see a clean 12 month payment history. You can request the most recent loan statement.

Do you mind me asking, who is the existing lender?

Enter the name of the lender

Will this loan be paid off at close

If 1st position loan, auto enter No.

Is the purchase contract signed? *

Enter [estimated] / [actual] Purchase Price *

What is the close date? *

We can close in approximately 5 to 7 business days after we have received all diligence material.

Is this a Wholesale transaction? *

A Wholesale Transaction is when our Borrower would be buying the property from a middle man who has the signed purchase agreement with the Seller. Our Borrower would be purchasing the property from the wholesaler.

Who is the Wholesaler? *

Is the Wholesale Fee included in the transaction? *

Briefly explain the project *

Has work started on the project? *

Briefly describe the work completed, including total costs *

Are Permits required on this project? *

Have Building Plans been approved? *

Have the Permits been issued on this project? *

on the the

What is the entire budget of the project, including costs paid to date? *

Do not include financing costs.

Will the Borrower be using a third party General Contractor? *

What is the Estimated Value of the Project upon completion? *

If not already, please explain the Borrowers experience building this type of project? *

Get a better understanding of the Principal(s) experience building this type of project. Why should we trust that they can successfully complete the project?

Is this a repeat Borrower of TaliMar Financial? *

How [will] / [does] the Borrower hold title?

Personal Name
LLC
Corporation
Trust
Other

If Other, explain *

How many signers on the loan?

What is the Borrower's real estate investing experience? *

Find out the experience flipping and/or managing properties.

What is the approximate credit score of the Borrower(s)?

If the credit score is below 675, mention the minimum credit score and that would you need to seek guidance from your Fund Manager.

Enter any relevant information about the credit score

How much are you looking to Borrow?

What type of pricing expectations did you have on the loan? *

Enter the response from the borrower. Ok to provide broad guidance on pricing.

Request Broker Compensation *

Enter in as a % such as 1% or 1.5%.

Do you have an active broker license in California? *

Not always necessary for a transaction. If No, you will ask the Fund Manager options.

Do you have a Broker Account with TaliMar Financial?

Would the loan meet our underwriting guidelines?

Yes
No
Maybe

Explain, the First Step in the process is for you to complete a New Loan Input Form, and if necessary, a New Borrower Input Form. Once received, we will draft a Term Sheet and submit to you for review and signature. Upon signature, we will issue the list of diligence items required to approve the loan. Our normal approval timeline is about 5 to 7 business from receipt of all diligence items. *

Completed

Explain, the First Step in the process is for you to complete a New Loan Input Form, and if necessary, a Broker Input Form. Once received, we will draft a Term Sheet and submit to you for review and signature. Upon signature, we will issue the list of diligence items required to approve the loan. Our normal approval timeline is about 5 to 7 business from receipt of all diligence items. *

Completed

Explain, I am going to speak with my Fund Manager about the Loan Request and get back to you with if we can fund this loan, and if, the pricing. *

Completed