Development of Bridge Loan Program
We represented a national mortgage banking firm in developing a short-term bridge loan product for multifamily housing and commercial properties. Dinsmore worked with the client to develop standards, procedures, and forms for loans to cover gaps prior to permanent financing. We closed five bridge loans under this new program in 2017, including for residential multi-family property, a hotel, and commercial/industrial property. The loan program has allowed the client to better serve its customers with short-term loan solutions.