Frequently Asked Questions
Highlights
- How is Lendicom different from other applications of this sort?
- What kinds of lenders can use Lendicom.com?
- How does Lendicom define a "loan program"?
- What does it cost?
- How does Lendicom decide which loan programs to show to a broker or borrower who is requesting a loan?
- What is the Lender Effectiveness Score and how can I improve my score?
How is Lendicom different from other applications of this sort?
Our application is distinguised primarily by its versatility, sophistication, and by the degree of control it gives the user. Because the process we use to gather, store and compare information about programs and loan proposals is far more detailed and versatile than that of any competing application, we can achieve a much closer and more accurate match between the two. Second, we give you complete, immediate control over all the information stored here. You can view, modify, deactivate or delete programs and proposals at any time.
What kinds of lenders can use Lendicom.com?
Any entity or individual that originates loans secured by commercial real estate can use Lendicom.com. This includes commercial banks, life insurance companies, conduit lenders, sub-prime lenders, mezzanine and bridge lenders, construction lenders, private money lenders, and even private real estate investors. Please note, however that brokers are not permitted to sign up as lenders, only as brokers. For a full list of commercial loan types, commerical real estate property types, and locations serviced at Lendicom, click here.
How does Lendicom define a "loan program"?
We don't, essentially. The point is that you define your loan programs, and have complete control over how your products are represented. Generally, a "loan program" is a set of commercial mortgage loan specifications (range of rates, loan terms, maximum LTV, etc.) that apply to a certain combination of: (1) A particular loan type or funds source (e.g. portfolio, conduit, governmental, private money) (2) A particular property type, or (3) A particular use of funds (e.g. acquisition, refinance).
What does it cost?
Commercial mortgage lenders, brokers and borrowers pay nothing for being included in Lendicom's database and using our commercial mortgage tools. Lendicom charges a fee equal to 0.25% (25 basis points) of the loan amount for any loan acquired through the site. This fee is due from the Lender.
How does Lendicom decide which loan programs to show to a broker or borrower who is requesting a loan?
Once a broker or borrower has completed the loan proposal questionnaire and all the pertinent details about the loan have been gathered, the submission engine compares these details with the parameters of each loan program in Lendicom's database. A list of matching loan programs is then compiled and presented to the submitter.
What is the Lender Effectiveness Score?
The lender effectiveness score is a measure of a lender's efficiency and responsiveness as a Lendicom user. In order to keep the effectiveness score as high as possible, a lender must be sure to respond to all loan requests promptly, and to keep the status of each loan request up-to-date in a timely manner.
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