TMAC is the industry leader in California establishing and enhancing relationships between proven, well-funded, private money lenders and large mortgage banking firms seeking to add a new, needed, lending product to their loan origination options. We have established multiple, successful, private money relationships for top 25 ranked mortgage bankers over the last 2 plus years and are seeing expanded interest in this concept.
A growing number of borrowers will not qualify, nor want to wait, for a conventional or NonQM loan. A stated-income, business purpose, short term loan that a borrower can rely on to be funded very quickly may be the best available option for a client. This private money loan not only solves an immediate need but frequently leads to a second (NonQM or conventional) loan to pay off the private money financing.
A growing number of borrowers will not qualify, nor want to wait, for a conventional or NonQM loan. A stated-income, business purpose, short term loan that a borrower can rely on to be funded very quickly may be the best available option for a client. This private money loan not only solves an immediate need but frequently leads to a second (NonQM or conventional) loan to pay off the private money financing.
Services
TMAC has a unique business approach and one that is of increasing value to borrowers who are unable to qualify now for conventional or NonQM loans.
There is no need to turn down many loan requests that come from borrowers with credit issues, need to get funds quickly before a business purpose with a loan secured by a first or junior lien on an OO or NOO property, don't have tax returns or bank statements available, are foreign nationals or for many other reasons.
There is no need to turn down many loan requests that come from borrowers with credit issues, need to get funds quickly before a business purpose with a loan secured by a first or junior lien on an OO or NOO property, don't have tax returns or bank statements available, are foreign nationals or for many other reasons.
Kenneth A. Cohen has been the Chairman/ CEO of TMAC since its inception. He was previously Chairman/ CEO of Carter, Smith & Co, Incorporated and The Bank of Beverly Hills. Mr. Cohen received his J.D. from UC Berkeley (Boalt Hall), an AB from Brown University, and an MA from University of Michigan. Mr. Cohen practiced at O'Melveny & Myers and Cohen & Ziskin.
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