Review About: Talbert Morton

Author

 William Bethard (N/R)
Rating:
*****

Relationship
Thursday, June 08, 2006
Review #1284

Talbert Morton is an excellent mortgage broker. I am a real estate broker and for the last two years have asked him to help my clients obtain loans for both residential and commercial property. Talbert is intelligent, energetic, resourceful and honest (and he returns phone calls!)--qualities not always easy to find in almost any field. From the initial client interview through obtaining the client's credit report, determining loan alternatives, obtaining final approval and close of escrow, Talbert is an essential part of the real property purchase. He is able to suggest ways to successfully improve the client's credit score and thereby obtain a more favorable loan as well as explain the pros and cons of various financing alternatives.

Let me give one example. A year and a half ago, a client agreed to purchase an 18 unit apartment complex contingent upon obtaining financing. We worked with a commercial lender who asserted that they would provide a loan for 70% of the purchase price or appraised value, whchever was lower. Low and behold, at virtually the last minute, this lender decided that they would only lend up to 60% of the purchase price and at a .5% higher rate. At this point the transaction was in jeopardy.

Enter Talbert Morton. He quarterbacked the financing end of the transaction and:

A) Found another lender who:
1) Accepted the appraisal report already obtained (a critical factor as there was not enough time to obtain another appraisal);
2) Agreed to lend at an interest rate lower than the original rate quoted by the first lender;
3) Agreed to make a 70% loan; and
4) Funded the loan in a timely manner. (The Seller would not agree to another escrow extension.)

B) Worked directly with the client in obtaining financial and other documentation required by the lender.

C) Kept me and the client fully informed

As it turned out, Talbert's lender actually made a 72% loan to value! I highly recommend Talbert Morton.
 
Tags: mortgage brokerloans