Thanks to the Mortgage Bankers Association for Today's Weekly Spotlight on their Newslink. Tough times are upon us but long term opportunity continues to present itself. I took a few quotes out of the full article that can be found here: Commercial Lenders 'Demorph'
WASHINGTON, D.C.—Commercial mortgage bankers, once thought of as "morphing" into an auctioneer role, may return next year to a more basic but powerful position as advisor and educator to borrowers in the current climate, according to industry experts.
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"The mortgage bankers of the world can play a tremendous role in educating and helping these borrowers through that," said Adrian Corbiere, executive vice president and partner at Cohen Financial, Chicago. "It's interesting how borrowers and developers are calling mortgage bankers now saying, 'Help, what do I do?’ That never happened before. Certainly, we view that as one way of helping educate that group and trying to get them to make a decision."
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"That is a mortgage banking professional's 'nirvana,' being engaged as an advisor, as a consultant" said John Davis, executive vice president at Grandbridge Real Estate Capital LLC, Charlotte, N.C. "The past few years, we have been treated as a commodity, but now [borrowers] are coming back to us and seeking our consult."
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