Palo Alto, CA (PRWEB) March 07, 2013
After tentatively testing the water in 2011, Private Money increased their overall lending for commercial real estate throughout the country in 2012 with total loan origination at year-end up 9% year-over-year. Multifamily property loans showed the biggest gain, ending 2012 up 22% from 2011. Surprisingly, retail property showed great recovery with loan origination up 17% year-over-year.
Private Money also continued to shrink their loan exposure in disaster areas that caused the biggest problems during the Great Recession. Construction loan origination ended down 36% year-over-year.
Today a great deal of disparity exists between which private lenders are lending again and which borrowers are benefiting. The underwriting has changed. The private money criteria is now strictly focused on the safety (low loan to value) and income of a property rather than the credit score or employment history of the borrower.
In the past 24 months AlternativeLendingMagazine.com has validated over 140 new private lenders entering the market. Statistics show a 32% out of business rate for all private money lenders in business calendar year 2007.
On a weekly bases Alternative Lending Magazine receives an average of 51 requests for Commercial Private Money Loans.
All Program Match data is compiled through the use of accurate, real-time, internet-based data collected from housing funding sales trends and lender behaviors such as recorded deeds and final closing statements.
AlternativeLendingMagazine.com is an expert in the field of funding programs and with 5,112 verified funding programs represented by over 392 direct lenders, the free service for Real Estate Professionals, or the actual borrower is the best on the web. The mainstream popularity of alternative lending and alternative money loans is growing daily as rates push down and Loan to Value pushes up. Alternative Lending Magazine is averaging around 104 new funding program verifications a week.
Alternative Lending Magazine is the unconventional guide to the unconventional lending market. This cutting edge interactive monthly magazine that empowers actual funding through program matching rather than lender listing uses a proprietary technology system with an automated underwriting process that evaluates consumers' unique non-conventional loan request and their capacity to afford it. The proprietary decision-making technology is based on program matching, property eligibility, underwriting, ability to pay review, lender analytics, strategy and loan scenario modeling. The system will match the actual program that will fund a loan rather than give a list of numbers to call.
To find out more or become a regular subscriber please visit AlternativeLendingMagazine.com.