7.26.17: Today’s Blue Light Special … a Refund of Your CMBS Good Faith Deposit at Closing

With the potential demise of Kmart the old “Blue Light Special” may become a thing of the past. Kmart became known for its “Blue Light Specials” that occurred at surprise moments when a store worker would light up a mobile police light and offer a discount in a specific department of the store, while announcing the discounted special over the store’s public address system.

Well, we have the current version of a “Blue Light Special” going on in the CMBS conduit loan world. To increase originations one of our partners is offering an expense credit at closing of $25,000. The way the program works is a borrower will send in the typical deposit of $35,000-$45,000 along with the executed Term Sheet. At closing, the settlement statement will reflect a credit of $25,000 against transaction costs.

The credit will offset the cost of third-party reports and a big chunk of the lender’s legal charges. This is quite a deal, and the promotion applies to all Term Sheets executed by Labor Day.

This entry was posted in CMBS, CMBS Conduit Loans, Commercial Lending, Commercial Mortgage-Backed Securities, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress and tagged , , . Bookmark the permalink.

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