SCOTTSDALE, Ariz.--(BUSINESS WIRE)--CommLoan, the first digital marketplace for commercial real estate lending, is taking action by launching a hotline to help the large number of commercial mortgage-backed securities (CMBS) noteholders whose notes are coming due this year. CMBS noteholders needing assistance to navigate through and understand their options may call 1-877-566-8734 between 8:00 a.m. and 5:00 p.m. Mountain Time, Monday through Friday.
With $123 billion of CMBS loans scheduled to mature in 2017, the United States economy is bracing for a potential shock wave.
“Commercial real estate experts are warning that with the notes coming due, noteholders across the country will face the harsh reality of rushing to secure new loans to pay off the old ones,” said Mitch Ginsberg, CommLoan’s CEO. “With a predicted increase in delinquencies, based on an assumption that borrowers won’t find a way to secure new loans, we realize that it doesn’t have to be like this and have installed a hotline to serve as a lifeline for CMBS noteholders. Our digital marketplace, for the first time in history, is giving commercial borrowers not only options, but unprecedented access to capital at their fingertips.”
CommLoan’s new, revolutionary platform has been disrupting the commercial real estate lending space as its digital marketplace is the first platform capable of sorting through thousands of lenders and potentially tens of thousands of loan programs, matching commercial mortgage borrowers with the perfect loan product.
As lenders come in and out of the market, along with programs and legislation changes, it is becoming increasingly more confusing for a borrower to understand what the best option is. This will further be compounded by the pressure of a note coming due.
“We believe that knowledge is power,” added Ginsberg. “We want every borrower who is concerned about their notes coming due to understand their options.”
CommLoan’s platform combines the best of technology along with white glove service. Not only will the borrower be matched with hundreds of lenders and potentially thousands of loan programs, but the borrower will be matched with a professional loan consultant to guide them throughout the loan process.
Established in 2014, CommLoan is a commercial mortgage lending technology company that has created the first true marketplace to match commercial mortgage borrowers with the perfect loan product and features personal, concierge-style service. Headquartered in Scottsdale, Arizona, CommLoan is redefining the status quo by bridging the gap between lender and borrower. With its innovative commercial mortgage lending technology platform, CUPID™, CommLoan is able to grant access to hundreds of different lenders representing thousands of loan products, while providing the tools necessary to easily and efficiently compare the loan terms. For more information, visit CommLoan.com or call 1-877-566-8734.