FNM Capital Funding LLC (“FNM”) was established in 2008 as a private commercial lender. : FNM’s true core competency is our ability to understand and thoroughly evaluate the intricacies of every deal in detail so as to meet project objectives and maximize returns. This strict discipline has led FNM to a continued success and differentiates us in today’s competitive lending environment.
In addition, we evaluate all transactions with an emphasis on the collateral strength of project. Property appraisal and legal reviews are conducted in-house by FNM team members.
Our specialty is in our strategy for acquiring distressed debt from insolvent banks and restructuring these notes to yield profit to our investors. The recent turmoil in the credit markets has created a unique opportunity to acquire non-performing loans at a discount. FNM possesses such capability by having acquired a staff of seasoned professionals which include: real estate experts, appraisers, negotiators, attorneys, and construction experts, qualified to acquire, cure repairs, and market properties in order to convert the distressed debt into a sellable asset.
Our lending parameters are as follows:
- Term: 12 months with an extension option for an additional 12 months.
- Lending Area: New York, New Jersey, and Connecticut.
- Property Type: All commercial property considered.
- Loan Size: $100,000- $25,000,000.
- Interest Rate: 11% – 14%.
- Amortization: I/O (Interest Only).
- Loan-to-Value (LTV): Up to 70% (maximum).
- Origination Fee: 3 % (distributed at closing from loan proceeds).
- Closing Terms: Closing in as fast as 5 – 10 business days.