Logan Finance Corporation
1393 Veterans Memorial Highway, Hauppauge, NY 11788
https://www.loganfinance.com/
Internal Reviews
(3 reviews)
Total loans closed with Loan Factory
23
Total loans closed with Loan Factory (past 12 months)
2
Lender overview
Basic information
Shellpoint Mortgage Servicing, ISAOA/ATIMA P.O. Box 7050 Troy, MI 48007-7050
Logan Finance Corporation, ISAOA/ATIMA 1393 Veterans Memorial Highway, Suite 308N Hauppauge, NY 11788
Lock policies & Fees
Lock Policies
Yes, Only 1.5 BPS per day in price.
N/A
Lender's niche & Overlays
$300+ Million a month in NON-QM ONLY volume- we sell direct to our parent by Neuberger Berman, half a trillion in asset management.
- What States is Logan lending NonQM in?
- For NOO business purpose loans, we are now in ALL STATES
- For Consumer purpose TRID OO and 2nd homes ALL STATES except Massachusetts, New Hampshire, & New York
What is Logan lending on?
- Consumer Purpose
- 1-4 units OO (Full/ Alt Doc)
- 2nd Homes; including for Foreign Nationals (Full/Alt Doc)
- Business Purpose
- 1–4-unit investments; including for Foreign Nationals (Full/Alt Doc or DSCR)
- 5-8 Residential (DSCR Only)
What are Logan’s income documentation types?
- Full Doc
- Alt Doc (Bank Statement, P&L, 1099, Asset Qualification)
- DSCR
- What property types does Logan finance?
- SFR (NO manufactured homes)
- Townhome/Pud
- Condo Warrantable and Non-Warrantable
- Multi- Family Apartment and Condo complexes <=8 units
- What occupancy types does Logan lend on?
- OO
- NOO
What are Logan’s NICHES?
I was the 1st rep to build Logan and with 20+yrs in the mortgage lending space structuring deals.
- We are Top 3 NonQm Lender Month over month based on volume.
- 5-8 Units
- Interest only option products for clients
- TRID (Owner Occ) and Non-TRID Loans (Investment Only)
- Non-warrantable condos
- 1 yr. or 12 mo. income calculation
- Non-occupant co-borrowers allowed
- LLCs or Corporation vesting allowed (Investment Only)
- Over conforming balances with credit events <7, >2 years
- Gifts permitted for down payment and closing cost even on investment properties
- Cash-out proceeds can be used as reserves on most programs
- Escrow Waiver
- No Cash out limits <=60% LTV...our clients have pulled out millions in equity!!!
- First time homebuyer is ok!
- First time investor is ok!
- Allow for 0x30x6 and 1x30x12 for housing on most programs
- Unlimited financed properties allowed
- Seasoning!!!
- R/T Refinance out of hard money NEXT DAY with new value
- Cash out – We ROCK as we are Only 6month seasoning to use new appraised value
We are direct to a parent company and make exception on approx 33% of our NonQm loans we close.
Lender turn time
1
1
1
Review - Logan Finance Corporation
4.7
3 Google Reviews
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