The principals of Mountain Funding were pioneers in the hard money lending business, created in the early 1990s in response to the needs and opportunities of the RTC days. Additionally, since the early 1980s and through today, they have been successful residential and commercial developers during the 1980s. As Mountain Funding, they combined their development expertise with their opportunistic capital base and, for over 15 years, have closed in excess of 80 transactions (hard money loans, bridge loans, mezzanine debt, real estate joint ventures, land loans, residential construction loans, and equity) in projects located in more than 25 different states and valued in excess of $4 billion. At the same time, they continued to develop for their own account either directly or through affiliated homebuilding companies, and in the aggregate have been involved in the construction of over 10,000 lots and homes and multiple commercial projects.
Real Experience: The hard money lending business is profitable, but frankly, not easy. The typical asset types have proven to be amongst the most challenging: land acquisition and development; residential construction; commercial redevelopment and repositioning; condo conversion. The borrowers are usually difficult, and every deal has a “story.” As a result, it is anticipated that a majority of hard money loans will end up in default, resulting in either workout or foreclosure/REO—that is why it is called “hard” money lending! In all such instances, our in-house development and management team is charged with completing the business plan, be it land development, construction, fractured condos, property management, lease-up or sale. Typically, our team achieves a complete recovery of principal and full anticipated return (and often much greater than originally anticipated). This experienced team, always led by a principal with over 20 years of relevant experience, will be responsible for managing your asset as vigorously as we have our own for so long. Please click here to read a few examples of how we have turned lemons into lemonade.
Accounting, Reporting & Loan Servicing: Thanks to more than 15 years of lending and ownership experience, for our own account and on behalf of many partners and investors, we have developed a comprehensive, flexible, practical and user-friendly system of accounting and reporting that meets all investor requirements. It is applicable to all product types: land development, broken condos, improved lot portfolios, vertical construction, commercial/apartment rental and management, home/condo marketing and sale. Please click here for more details on our accounting and reporting system. Additionally, through our affiliation with one of the largest international rated loan servicing companies, we have the ability to service and manage loan portfolios or bank loan sales of any size in any location in the world.
Capital Availability: In addition to expert management and development of difficult asset types located in all major national markets, Mountain Funding brings something else to the table that other asset managers cannot – we can fund debt or equity, if practical, to facilitate a workout which we are asset managing for a third-party institution. Every workout requires capital for improvements, taxes, insurance, debt service, payroll, etc., but capital is rarely available in such situations. If it makes sense, Mountain Funding will lend such capital or possibly invest it as equity for distressed real estate. We are willing to put our money where our mouth is, and assume risk in your troubled asset. Most other fee managers cannot or will not take such risk.
Let the Mountain Funding team be the one-stop solution to the management and financial problems presented by your NPL and REO assets. |
