Commercial mortgage broker and the lender of record

Borrowers look for one name and find two jobs. The lender of record underwrites, signs, and funds. A commercial mortgage banker or broker packages the story and takes it to lenders that might say yes. A.R.S. 6-901 defines a commercial mortgage broker as a person who, for compensation or in the expectation of compensation, directly or indirectly makes, negotiates, or offers to make or negotiate a commercial mortgage loan. The same section defines a commercial mortgage loan as a loan secured by commercial property, and commercial property as real property that is not a residential dwelling of one to four units. That is the legislature's text. It is not legal advice about which license covers a specific file.

The firm's Arizona license is commercial mortgage banker CMB-1047342, together with NMLS 1445066. The statute's defined word in that section is broker. The license title on this firm is banker. The practical point does not change: Capital Market Funds arranges financing through banks, life companies, CMBS, and private lenders. It is not the lender of record. It is not a bank, a credit union, or a direct lender. Capital Market Funds is not a Fannie Mae DUS lender.

What the arranger does, and what only the lender can do

We can say which box a building might fit, ask more than one capital source, and stay through closing when a source engages. We cannot approve the loan, set the rate, or fund it. A term sheet is the lender's. A commitment is a later document from that lender. The commercial mortgage banker page is the service description. Structural differences among sources, without rates, are lender types compared. The glossary defines the short words.

SBA is the same split, one step further. An SBA lender makes a 7(a) loan. A certified development company makes a 504 loan. This firm is neither. The Arizona arrangement page is SBA loan broker. A bank commercial loan, arranged and not funded by us, is Arizona bank. The Consumer Financial Protection Bureau's consumer-tools page is about consumer products. A commercial note is not a consumer mortgage, and the tools on that page do not become our term sheet.

Licensing context, without a tour of the whole code

Arizona Title 6 is the banking and financial institutions code. The definitions cited above are one section of it. This essay does not summarize the title and does not tell you that every commercial loan in the state must run through this office. The Mortgage Bankers Association's site, and its research section, are where the industry describes commercial mortgage markets. They are not a directory that ranks arrangers, and this page will not rank them either.

The office is 7373 E Doubletree Ranch Rd #255, Scottsdale, AZ 85258. The phone is (480) 495-8072. Arizona CMB-1047342 and NMLS 1445066. The insights index is insights. A phone call is a request to talk to Craig Hoebing. It is not an application and not a commitment to lend.