Knowledge Center

What A Commercial Loan Officer Needs To Know

• Make sure you identify and confirm the lenders loan process
• Do not talk like you are a residential loan officer, learn the commercial vocabulary and way of speaking so you look, sound and act like a professional. Clients and lender’s can easily spot a poser.
• Develop a niche, whether it’s a loan product or property type
• Educate yourself on the Standard and Non-standard Loan Programs
• Develop the Ability to Analyze a Loan and Related Documentation
• Calculations and Analysis is the key to showing the underwriter the project is workable. Make sure to double check your math or use a user friendly form like the one we offer on our web site
• Third Party Reports are needed during the loan, know how much and when they will be requested by the lender before submitting a loan.
• Determine which lenders to work with by interviewing them and learning their process
• Determine which borrowers to work with by doing your due diligence, sometimes this includes a background check
• Don’t take legal matters into your own hands, have a good contract law attorney and a great fee agreement
• Know what is your direct contribution to the transaction, Why You? Need to Know! The what to do.
• Every commercial loan is different – this is a great thing!
• One set of rules does not apply to everyone – each loan is judged by its own strengths and weaknesses
• Each commercial loan is reviewed on its strengths and weaknesses. Compensating factors – such as experience in the field – potential income from the property, and/or property’s loan to value can tip the scales in your favor
• Knowing how to submit your commercial loan is key to getting it accepted
• You need to understand the entrepreneurial mindset
• Have access to many commercial lenders to give you the most options offers a loan placement and packaging service to help you get your loan funded and for you to get money into your pocket…

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Contact us at the Consulting WP office nearest to you or submit a business inquiry online.

I have never worked in the lending industry: to be honest I was intimidated by it. I thought that it would take years to even begin to understand the procedures that are involved. I finally decided to attend a class taught by Mickey O’Brien from He took commercial loan topics and explained them in detail, but in such a way that everyone was able to understand them. I learned to fund and plan on taking the four day live class that offers in the near future.

Andrew Korzeniewski