Last November, I put out a call for loan originators to join our team; at that time Kevin Monahan and Leon Elliott came aboard. Kevin has approximately 10 deals committed and Leon has well over $60 million in loans approved, including a $32-million hotel portfolio loan and a $24-million office portfolio loan. The primary demand has been for CMBS conduit loans, which provide higher fees and faster processing time.
“The CMBS conduit market is on a tear. ValueXpress is now originating CMBS conduit loans at a $200-million annual pace, not far off the levels we were producing prior to the market crash in 2007,” commented Michael D. Sneden, Executive Vice President of ValueXpress. “So now I am repeating my efforts and looking to find additional originators as the market for CMBS loans is the best it’s been in four years.”
“We’re looking for individuals who are seeking a flexible, entrepreneurial and financially rewarding career path,” Sneden continued. “If you are a mortgage banking professional with specific experience in the origination of CMBS conduit loans, contact me at msneden@valuexpress.com so we can set up a time to talk.”
ValueXpress has access to a database of every closed CMBS conduit loan that is outstanding. The database has historical property operating data, rate and term information, servicer commentary and, most important, loan maturity. The ValueXpress origination team has been mining this database, carving it up based on the location of ValueXpress originators; this allows our originators to make personal contact with owners who are approaching maturity to assist them in refinancing their properties. As noted below, many CMBS conduit borrowers are having a difficult time paying off their loans; they are in great need of the services provided by ValueXpress.