Roc Capital is uniquely positioned to be your trusted partner, especially in this rising rate market, thanks to our wide range of products, customer-friendly processes, a comprehensive suite of services ranging from white label table funding to full back office support and a full technology suite. We’re dedicated to executing for our clients and ensuring their success.
I represented Roc Capital at the Single Family Rental Summit in Dallas, TX and spoke about our processes on two panels at the conference. Here’s a flavor of how our processes are geared towards ensuring quick, easy, and efficient closings.
In my first panel discussion, Due Diligence: Wisdom from the Front Lines, I spoke about Roc Capital’s dedication to customer success, and shared some of our best practices and processes for loan origination.
I explained how, at Roc Capital, we’re focused on executing for our clients. As lenders we’re invested in achieving what our borrowers need, to help them do what they do well, which is operate their portfolios and properties, source new ones, and then do it again together.
Our due diligence processes are aligned to these goals. Our process is simple and efficient:
It still surprises me how many times, in the industry, deals are closed without a proper kickoff call where the lender gets on the phone with the borrower to understand their needs and goals, which are often taken for granted. Not only does this lead to process churn and delays in closing, it can also mean missed opportunities for the borrower and lender to discuss goals and expectations and put together a better deal for everyone.
The kickoff call is a key best practice at Roc Capital. We make sure to connect with the borrower early in the process, to walk through our program and products, understand the borrower’s goals and how the deal fits with their previous history, and to clarify the information we need to facilitate a faster closing. Not only does the kickoff all help everyone do their due diligence and ensure a smoother process, it can also present opportunities that are more organic that come up in the conversation. Even just having the borrower walk you through their portfolio and how they got it to where it is today can instill a sense of confidence (from a lender’s point of view) in the borrower’s ability to execute. Or, based on the borrower talking about what they need, the lender might say. “We can actually do something different that’s better for you.”
Everyone is so busy and focused on getting a deal signed and moving on, it’s easy to overlook having a kickoff call. But our experience at Roc Capital has shown us that it’s always worth investing the time to connect with the borrower, even if it’s only for a few minutes, early on in the process.
We only ask for documents that are needed and we don’t ask for documents that aren’t. We also break up the process into manageable components in order to not overwhelm the borrower. Our approach activates sub-processes early and in parallel to other processes, so that we can get to a closing as quickly as possible.
Typically, we ask for three different types of documents::
At the beginning of the process we focus on sponsorship level and property level documents so we can get them to our appraiser team quickly, speeding up the overall process. Getting sponsorship level items at the beginning helps us avoid any red flags or surprises. Also to the extent that there’s something we weren’t expecting, we can talk through that at the beginning, to avoid back-loading more stress towards the end of the process, near closing. Borrowing entity documents are more clerical – we typically work with the borrower’s attorney so we can round out our package and approve the loan.
In my second panel discussion, Financing Strategies: Learn What to Expect, I shared how Roc Capital recognizes that not everyone has the same scenario. But no matter what your specific situation is, we want to work with you to provide a solution. We offer a very wide range of financing options. Whether it’s bridge or term, single family or multifamily, small portfolio or big portfolio, big city or small market, we truly are active in a very big way. Here are a few scenarios I discussed at the conference, which should give you an idea of our service mindset:
Whatever your situation, Roc Capital can help you close and help you achieve your stated business plan. We’re there for you. Contact us to get started!
Adam Gottfried is a Director of Roc Capital’s Commercial Real Estate Group, which he joined in 2018. He is responsible for sourcing, evaluating, structuring, and asset managing across all lending products at Roc Capital. Prior to Roc Capital, Adam worked for Arbor Realty Trust’s Structured Finance group, and was on the Acquisitions team of Mack Cali. He received a B.S. degree in Management from Arizona State University, and an MBA from Baruch College.
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Yes, we’re in the middle of a Fed tightening cycle, and many borrowers are stretching to adjust to this new environment. Financing rates are higher and more volatile than any time in recent memory, while the outlook on the housing market is more uncertain than it has been in probably the last ten years. This state of affairs seems likely to continue for the next 6 to 12 months, if not longer.
If you’re a loan originator focused on owner-occupied consumer mortgages, you’re probably experiencing a bit of nostalgia for the strong refinance activity that drove origination volumes sky-high in 2020 and 2021.
Ranajoy Sarkar, Roc Capital’s Chief Credit and Product Officer, is optimistic about the long-term health of the rental market and excited by the prospects of financing the significant untapped equity in properties owned by non-professional real estate investors.
Despite today’s macroeconomic conditions, the mood in private lending is cautious but still optimistic, says Roc Capital’s Adam Gottfried. A key reason: the fundamentals of real estate have never been stronger.
Roc Capital is uniquely positioned to be your trusted partner, especially in this rising rate market, thanks to our wide range of products, customer-friendly processes, a comprehensive suite of services ranging from white label table funding to full back office support and a full technology suite.
Speaking on the Mastering Wall Street panel at the Geraci Innovate Conference a few days ago, our Co-Founder Eric Abramovich discussed recent bridge loan securitization pricing and how Roc Capital has been able to keep rates competitive for our clients.
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Share on facebook Share on twitter Share on linkedin What’s the outlook for the U.S. housing market in general, and rental housing in particular? Overwhelmingly
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*Rates advertised are the lowest offered. Actual rates and offers may vary based on approval criteria, including but not limited to borrower FICO score, previous experience, period of ownership, etc. **At this time, we are unable to lend in Minnesota, North Dakota, Oregon, South Dakota, Utah, and Vermont.
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