Competing in the lending industry can be tough. Access to online tools and "too good to be true" advertising can lead many potential Borrowers to begin the financing process with lenders who may not offer the products the borrower needs or wants. CFS is dedicated to the "open door" policy and will work hand-in-hand with your Consumers to strive for a painless approval process. Our goal is to build a long-term relationship with you as the Mortgage Broker so you may add Interim Construction Lending to your product portfolio.
The approval process will begin with you as the long-term lender as you will need to process the loan and provide the documentation to CFS to show the Borrower has the ability to refinance the construction loan into the long-term mortgage. Of course during this process you can provide the Borrower with our contact information so we may answer any questions they may have.
For your loan file you will:
CFS takes extreme pride in keeping you informed during the construction process. The Refinance Loan Officer will be automatically notified of each construction draw, including inspection photos, so you may watch as the home is built and be prepared to start the refinance process once construction nears completion. We understand the Borrower is YOUR client and work with great integrity to ensure your borrower remains your client until the very end.
For more information on the Loan Approval Process click HERE.
For a complete List of Documents required for submission click HERE.
Libra Enterprises, LLC dba Construction Financial Solutions is licensed under the laws of the State of Texas and by state law is subject to regulatory oversight by the Department of Savings and Mortgage Lending. Any consumer wishing to file a complaint against Libra Enterprises, LLC dba Construction Financial Solutions should complete, sign and send a complaint form to the Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78075. Complaint forms and instructions may be downloaded and printed from the Department's web site located at sml.texas.gov or obtained from the Department upon request by mail at the address above, by telephone at its toll-free consumer hotline at 1-877-276-5550, by fax at 1-512-475-1360 or by e-mail at firstname.lastname@example.org.
The Department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed Residential Mortgage Loan Originators. A written application for reimbursement from the recovery fund must be filed with and investigated by The Department prior to the payment of a claim. For more information about the recovery fund, please consult The Department's website at sml.texas.gov.
National Mortgage Licensing System Registry #1771431. Construction Financial Solutions is located at 18568 Forty Six Parkway, Suite 3002, Spring Branch TX 78070.
Lenders are required to provide the "Your Home Loan Toolkit", which has been provided by the Consumer Finance Protection Bureau created to comply with federal law pursuant to 12 U.S.C. 2604, 12 CFR 1024.6, and 12 CFR 1026.19(g). This is for all loan transactions effective 10/3/2015.
Partners in Success
Every interim construction loan is backed by a Permanent Mortgage Lender who will refinance the construction loan into the long-term mortgage. Offering your consumers the niche market of financing a custom home will set yourself apart from all the rest! The approval process is a team effort and CFS is honored to be your partner in helping your consumers obtain their goals!
Libra Enterprises, LLC dba Construction Financial Solutions Copyright 2019