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LJL Funding is a hard money wholesale lender. The money that we raise in the mortgage funds are used to provide home owners with credit issues with a home loan that they could not normally get through traditional lending sources. All of our loans are done with at least 35% protective equity in the subject property, based on a "30-day sale value" from a Broker Price Opinion (BPO).
We do not interact directly with homeowners, we use a network of mortgage brokers to do this. This is called Wholesale Lending. The brokers talk to the homeoweners, gather the necessary paperwork, and provide it to us for evaluation. We review the application, credit, title report and appraisal. We run fraud checks and get a BPO to confirm value.
When we are confident that it is a transaction that we would like to fund, we draw loan documents and work with a national title/escrow agency to have the loan documents signed in front of a notary. We do a final review of those documents and then send funding to the national title/escrow company to disburse funds.
The whole process is completed to industry standard. What makes us different in the hard money wholesale lending world is our commitment to service and consistency -- two factors that will help us maintain our growth and success.
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