Piggyback On Us
As a private mortgage fund, Lone Oak's underwriting criteria is regulated by its operating agreement, which sets forth lending guidelines generally more conservative than most private and hard money lenders. Many borrowers are attracted to Lone Oak because of its low interest rates and origination fees, but need a higher loan-to-value than permitted under Lone Oak's guidelines.
The solution to this problem is to piggyback with a second trust deed using lenders who work with Lone Oak on a regular basis.
Brokers who bring their clients to Lone Oak to piggyback can expect to receive a call when Lone Oak has a borrower who needs additional funding through a junior loan. Lone Oak refers loans to brokers with whom it does business as an accommodation. Lone Oak does not accept commissions or fees for these referrals.
