"PRIVATE" MORTGAGE
REAL ESTATE LENDING SPECIALIST
STRATEGIC & ADVISORY CONSULTANT
WHY PRIVATE FINANCE? For the answer to this and updates on other private mortgage topics, refer http://littlerockupdates.blogspot.com/
Genuine private lenders are usually scarce, with their resources are in considerable demand. However, Little Rock presently has access to considerable available funds, experience, due diligence and packaging skills if you have suitable proposals
STRATEGIC & ADVISORY CONSULTANT
WHY PRIVATE FINANCE? For the answer to this and updates on other private mortgage topics, refer http://littlerockupdates.blogspot.com/
Genuine private lenders are usually scarce, with their resources are in considerable demand. However, Little Rock presently has access to considerable available funds, experience, due diligence and packaging skills if you have suitable proposals
Introduction - Occupation
MORTGAGE BANKER
Having begun in the finance industry in 1974 as the Special Recoveries Manager, and being involved in lending and Money Market activities for Mercantile Credits Limited, I then became the State Manager for Medical and Commercial
Finance Limited, a specialist finance and investment packaging company for professionals. In 1984, as a director of Australian Equitable Mortgage Limited and then Mortgage Securities Limited and others, I was at the
forefront of the emerging non-bank first mortgage lending market into
Queensland.
I have successfully completed many billions of dollars worth of mortgage business. Like many others, including major institutions, I was struck hard by the GFC, which is still having a "clean out" effect in the industry. These are difficult times. However, I bring invaluable experience of the highs and lows of the industry and the circumstances facing borrowers; an understanding that sometimes it is necessary to take a short-term position for longer term gain.
I have worked continuously as a Mortgage Banker since 1984, and am presently, through Little Rock Investments Pty Ltd, involved in performing due diligence for and packaging first mortgage (and occasionally second mortgage) loans for genuine private lenders. To private investors I bring a wealth of experience, risk assessment and recovery skills.
I have worked continuously as a Mortgage Banker since 1984, and am presently, through Little Rock Investments Pty Ltd, involved in performing due diligence for and packaging first mortgage (and occasionally second mortgage) loans for genuine private lenders. To private investors I bring a wealth of experience, risk assessment and recovery skills.
Generally, on the borrowing side, Little Rock only deals with finance brokers, and will always maintains the integrity of your business model and borrower relationship - it is the introducer with whom we wish to establish a continuing relationship.
Loan to valuation ratio and pricing will very much depend on
the nature of the security/ies, proposed term of the loan, urgency for
settlement, background story (why is the deal "private" and not Tier 1 or Tier 2 "institutional" ?) and other relevant factors, and so it is very much
POA
An initial discussion is usually appropriate to establish broad parameters.
NB THIS IS PRIVATE FINANCE (NOT
“QUASI-INSTITUTIONAL”), SO WE WILL "LISTEN" AND BASE OUR DUE DILIGENCE AND RESPONSES ON A CASE BY CASE BASIS. THE MORE WORK THE INTRODUCER DOES TO ASSIST, THE
FASTER WILL BE THE RESPONSE, AND THE MORE LIKELY IT IS TO BE AFFIRMATIVE!
WE SPECIALISE IN FIRST MORTGAGE
"PRIVATE" BRIDGING TRANSACTIONS
FOR PERIODS OF UP TO ONE YEAR AND WHERE:
- THERE IS A “BACK STORY” THAT INSTITUTIONS WON’T LISTEN TO (OR MAY ARGUABLY HAVE CAUSED)
- WHERE THERE IS URGENCY FOR SETTLEMENT TO ENABLE SIGNIFICANT BENEFIT TO THE BORROWER WHO IS THEN
- PREPARED TO PAY REALISTIC “PRIVATE PRICING” FOR THE SHORT TERM
- THERE MUST BE AN APPARENT BENEFIT TO, OR PRESSING NEED BY, THE BORROWER, WITH A WELL THOUGHT THROUGH EXIT STRATEGY, FOR US TO FAVOURABLY CONSIDER A TRANSACTION
- PREFERRED LOAN RANGE CURRENTLY - $0.10 M UPWARDS DEPENDING ON THE NATURE AND NUMBER OF SECURITIES (Single property, up to $3.00 M, but with multiple securities - including strata units - up to $10.00 M. Obviously depends on availability of funds at the time and the strength of the proposal. Private lenders are realistic in consideration of proposals, but they didn't become the ones loaning the money through lack of commercial awareness. A properly packaged proposal with appropriate due diligence is a minimum requirement for likely success)
- TO ACHIEVE THIS, SECURITY QUALITY MUST BE ACCEPTABLE AND LVR REASONABLE
No development funding (however we will take-over balance stock)
No land, unless in exceptional circumstances, conservative gearing and a clear short-term exit strategy.
No land, unless in exceptional circumstances, conservative gearing and a clear short-term exit strategy.
I look forward to hearing from you.
Steven Acworth. 
