SearchMyLoan.com (SML), a Port Washington, N.Y.-headquartered provider of loan search and pricing services for the mortgage industry, has formed an alliance with Brookview Financial, a Hamden, Conn.-headquartered direct rehab lender providing short-term financing for the acquisition and rehabilitation of residential, non-owner-occupied national properties.
Through the partnership, Brookview Financial's loans can be identified and selected by originators through SML's search and pricing platform. Brookview Financial says that its loans are designed to meet the specific needs of the rehab investor, including pre-established credit facilities, quick closings and prompt rehab draws. Inclusion on the SML platform speeds up the origination process and enables loan officers to offer a wider variety of products to borrowers.
"In the wake of the subprime and Alt-A collapse, there is a tremendous need for niche, non-owner-occupied and 'rehab' loan products," notes Salvatore Tomaselli, CEO of SearchMyLoan.com.