Global Integrity Finance Direct Equity Lending For Real Estate Brokers

It's our first time doing this, so hopefully, uh, technical difficulties are minimal, um, value-added information is maximum, and we can, uh, get you going. So we will go ahead and get started. I think we are at, um, a good attendance so far. So people jump in, great. I've turned it on. If you want, you can do an invite to speak for the time being. I'm going to go ahead and share my screen. If you have any issues, Douglas Robbins, our VP of Business Development, is here to help moderate and watch out for those chats, those questions that come in so we can answer them as they come in. So let me go ahead and share my screen and we will start with our presentation. So you are with currently attending the Global Integrity Finance webinar. Basically, it's a reintroduction where we are looking to connect with our brokers and show and put our best foot forward as to why you should think of us for your next deal when trying to finance your clients. And so this presentation, we are going to go over a little bit of everything. So we're going to go over who we are, right? Kind of our origin stories, our products, what we can offer for you, how we do it, how fast or how to close the deal fast with us, kind of some best practices. And then at the end, we have some QR codes, some surveys, some things like that that we'll be sending out to you, allow you a chance to scan. But this is what we're going to cover today. Hopefully we find it, or you find it insightful. Again, lean on that chat if you have any questions in particular that pop up, and we'll go from there. So our origin story. So who are we? All right. So we are an organization that started in 2015 by Mr. Toby Potter. That is the gentleman right there in that sharp jacket. That was actually at a recent mixer that we were at. We hosted a table out in Allen, Texas. You know, Toby, Toby started this with his own funds. He literally funded everything and anything that he could with his own money. And then eventually he, he grew it, changed it, and brought it into an environment where, you know, he kind of got back to his roots within lending. But more of his fund roots in the sense of helping people with fix and flips, you know, those, those bridge type rehab loans. And then it also, as DSCR took off, he jumped into that as well. So that, that is our primary bread and butter. We work with mortgage brokers primarily. We do have a little bit of direct-to-consumer when people come and find us and reach out to us. But brokers are our passion. Brokers are who we want to help. We have access to different lending that you all may not necessarily have access to. It's not always going to be the best. It's definitely not the worst, but we're going to be competitive and fight. And at the end of the day, our foundation is really our consultative approach. We want to talk out deals with you. We want to be able to guide you through the process to give the best experience for your client, really, at the end of the day. And so Toby's, Toby's the founder of that. He's led us through it. So we'll go over some quick stats about the company since we started. We're headquartered in McKinney, Texas, so that's just north of DFW for those that are not locals to Texas. We were founded in 2015. Currently we have about 15 employees or so, you know, well over $600 million in originated loans, right? So actually funded loans that we've done. We take a lot more than that on a day to day. It's just not every deal is going to work out, right? Applications, well over 2,000 were originated. In our status, we consider ourselves a direct equity lender. We have relationships that we can lean on and utilize to help fund your deals for your clients. So we classify ourselves as a direct equity lender. Next up is the leadership team. So here's a breakdown of our leadership. Toby's up there at the top. And in no real particular order, because we are jack of all trades here at Global Integrity Finance. You have myself, I'm Brian Ogilvie. I'm the Chief Operating Officer. Rochelle Davis, Head of Operations, anything and anything operations, underwriting, processing, closing, post-closing. That's her. Angie Potter, obviously there's a relation there to Toby. That's his beautiful wife. She is our CFO. She is post-closing, making sure we're doing everything we're supposed to do from a financial perspective. That is her, her role and responsibility there. And then we have Douglas Robbins. He is on the call with us today. He's our VP of Business Development, a very, very senior sales representative, leader, force to be reckoned with. He's done a lot of the trade shows for our organization and has been boots on the ground with a lot of the brokers, especially some of you on this call today. And then Bill Hawkins-Smith, newer addition to our team, but he is our National Sales Manager. He has a vast background in real estate brokers as well as lending. Some unique aspects there, but we love having him on our team and looking to see what he can do with us. So some of the benefits, right? Some of the clear-cut ways or clear-cut answers as to why should you choose Global Integrity Finance for your lending partner. We work on faster closings. We're not going to be the fastest. We're not a 24-hour close kind of shop. Just, just not who we are. We do titles, we do appraisals. You know, there are some documentation verification, but if you and your client can get us that documentation, we can set up closing within 3 days on average. So 3 business days on average, I should say. So, you know, we push for faster closings. We pride ourselves in our communication during our operations process when it comes to our processing team and how they reach out on needs lists, explaining what we need, why we need it, and really kind of holding you accountable to get us as fast as possible, right? We know that's a double-edged sword. Not every client wants to get us everything as fast as we'd like, but we help keep you accountable and keep things honest and moving forward. And that comes down to that clear communication, like I mentioned on the needs list, right? So from the get-go of qualifying the deal up front through the needs list, through setting expectations at closing, we pride ourselves on clear communication. And then less documents, especially less documents compared to agency. So some of you on this call may not necessarily dabble in everything that we're getting ready to talk about, and that's perfectly fine. Somebody has to start somewhere, and that's why we're having these conversations. We're reaching out to our brokers to make sure you're educated on our products, you understand what we're looking for, and this is going to continue and grow. So that image on the left is actually pretty cool. It's one of our funded loans that we did. It's kind of nice, right, to kind of see, to kind of see all the, all the work you put in and what that does for your, your investors and your borrowers out there in the world.

Okay.

That's ideally what this next screen is as well. Some of the different property types that we do, and we're going to get into this a little bit heavier. That's where Douglas is going to chime in a little bit more as well. So we can kind of tag team the product overviews, what we do, what we don't do. But here's some of the, you know, recent term sheets, approvals, funded loans that, you know, we get out there. So, you know, we do ground up, we do single family, we do your, your nice, you know, million-dollar, multi-million-dollar loans. We do kind of your more vacation, maybe Airbnb type homes as well. Um, you know, some of your nice colonial, middle of the, um, city properties. And then we also do Mixed use isn't on here, but we do have multifamily listed as well. So we take a lot of pride in our properties. We do a lot of research when we're, we're scoping out the work with you. So just want to share some of that here. And so now we have our product overview and this is just enough to keep you interested. In full disclosure, we could go all day about guidelines and thoughts and opinions and really break down different scenarios. I was actually just in one of these types of meetings the other day, and it was interesting to hear how many people were like, tell me the max this, tell me the max that. Well, I'd love to. And yeah, there is a max, but it doesn't necessarily mean that it's going to apply to your deal. So that consultative approach that I was telling you about when it comes to our sales team, our account executive team, what we would like to do is really talk out the deal with you. We need to understand what you know about it, what we don't know about it, and then go find out. And that's going to help us come up with a lot of these leverages and requirements and things like that. So down here you can see 1 through 4, what our products are. We have a long-term rental loan. It's kind of DSCR for those that know that acronym, a debt service coverage ratio loan. We can go up to 80%. You can do cash out on them as well. Minimum, we look for 3 months reserves in the bank. We don't do first-timers. Okay, so if you have somebody that's never owned a home before, maybe they live with a family for any particular reason and they're not on title with another property, we can't help them out. Um, but we can help out those that have vacant properties. So let's say they're in between tenants right now, or they just bought it and sat on it for a little bit, but haven't quite rented it out and it's still vacant. We can help them out. Okay. There's different leverage hits and pricing associations with that, but we'd be more than happy to talk it out. We know that's a little bit of a unique niche compared to some lenders out there. So definitely something to take note of there. If you have those vacant investment properties, we can help you out. Next up is our fix and flip rehab. We'd like to toss around the word bridge a lot. I understand bridge, bridge loans are a lot of different things depending upon what type of business you're talking about. But we have a fix and flip. We have our loan to value max at 80, loan to cost at 90. Loan to ARV, or after, uh, after repaired value, is 70. Reserves on that, we look for 6. Uh, that one we actually collect the first 3 months' payments and we escrow them so the client doesn't have to make the first 3 months' payments. And then we keep 3 in the bank. And then we also work with those first-timers, so we really do experience of zero and beyond. And I'll get more into experience here in a little bit, but, um, that one's good to notate because not everybody works with those first-time fix and flippers. Stabilized bridge. For those of you who don't know, stabilized bridge, just think a 12-month interest-only loan for somebody that, you know, hey, I'm getting ready to sell the home, uh, I don't necessarily need to go get into a 30-year, I don't need to do a rehab, but I just want to keep it short-term for whatever particular reason. It could be 12 to 24 months, but we, we offer a stabilized bridge, simple interest-only loan up to 80%, same 6 months reserves. We collect 3, we have to show 3, and that experience is zero beyond as well. And then we also offer ground-up construction, and I'd be interested to hear some of your thoughts on the ground-up world because we know that there's a big housing shortage out there right now. I think there's a lot of money. I know just in my area alone, there's a, a lot of homes going up, whether that's for people to build and keep or build and sell. New construction, I think, is going to start taking a little bit higher impact because there's definitely a need. We just got to make sure that all the cities are going to be pumping out the permits like they need to in order to meet that, that demand. But you can see our leverage is there. Loan to value at 80, loan to cost at 90, loan to ARV at 70. Same aspect there, 6 months reserves, right? We collect 3, we show 3. And then ground-up experience, I have a little asterisk there. We look for 3 ground-up experience. We do have a little bit of alternatives there. So if they have major rehab, right, so we're talking large-dollar rehab projects, fix and flips, we have somewhere along the lines of 5, right, Douglas? Make sure I don't mess it up. And I told me—

yes, that's correct.

Yeah. So 5. If they have 5 of those, those major rehabs, you know, large dollar amounts, definitely large percentages of the home's value that they're doing, we can start to consider those. There's some other avenues too that we could talk about offline. But the ground up, that one has to have experience, right? To build something, something out of nothing takes a lot of experience. And so that's one I definitely want to make sure that we covered. I do have some polls, so I'm not just sitting here monologuing at you the entire time. Sorry, I just sent one. Yeah, so you just sent one. So looking at these kind of products, right? So you have your, your DSCR, your, your rehab, your stabilized bridge, your new construction. It's really kind of fix and flip. Which one of these products do you consider yourself to be an expert in? So Douglas put it out there. Um, it should have popped up on your screens, might be in the chat box, but, uh, go ahead and tag which one you feel like, you know what, I have this down pat. This is something I offer to my clients all the time. All right, got some fix and flips and DSCR. All right. Looks like everybody's finding it right now. That's good. Good.

Outstanding.

And this part actually doesn't surprise me. DSCR has taken the lead right now. Fix and flip, not so much. New construction's batting a big zero there. And it's not surprising, but I think there's a lot of opportunity there for within your practices to really learn more about that product. Okay, I'm going to go ahead and turn that one off. We are going to start another one here. And so let's go with which product that you would like to get more information on. Okay, so out of the fix and flip, the DSCR, the ground up, I can only give you so much. The next page, the next slide is going to be exactly like what we don't do, um, so that'll give you some more information there. But outside of that, like, which one would you be interested in hearing about more? If I could put together another presentation for you, what is it you'd like to hear about? Or if you'd like some more material that we can send you to maybe help market, which one would you like more on? So we got one for DSCR, construction, a lot of construction. Okay. Makes sense, right? Especially with that last one we had where, where ground up didn't have anybody really considering themselves an expert. I don't know if I necessarily consider myself an expert, but, you know, it's, it's definitely something that we can all learn from and we got a fix and flip in there. Great.

Hey Brian, we actually had a question come in on DSCR new construction, which is absolutely for everybody that's listening, is absolutely something that we can take care of. So if you're going to take the property and do a build on it, that is going to be kept for long-term hold and you want to move it straight into the DSCR, we can absolutely take care of that. So what we do is that is structured as a new construction loan, short-term interest only. Then once that project is completed, then it is rolled and refinanced straight into the 30-year long-term fixed rate on the DSCR.

Perfect. Thank you, Douglas. Appreciate that. All right. And then what we'll do is we'll go to the next slide. I have two more questions I'd love to ask you just from an educational standpoint to see where you're at with these products. But we'll go ahead and dive into kind of what we don't do. Okay, so here's what we don't do. And so I've broken it out into 4 different categories. We have credit, um, we, we only go down to 620. So anybody below 620 across all of our products, uh, we won't be able to help them out at this time. Get them over to those credit experts, uh, work with them, see what you can do to help, help them grow that credit score. Um, and even then, I'll throw in another little unofficial asterisk. Is those thin credit profiles, right? So, you know, sadly, we had one the other day where our credit committee just couldn't end up taking the risk on them. They had one authorized user account for like 20 years and one small credit card, and that's it. No mortgage history, no nothing. That's it. And it was like an 809 FICO, which was insane to see that high for just an authorized user and that. But just kind of keep that in mind too. If you have those people with really thin credit profiles and you have concerns, call that out. Let's talk about it up front. When it comes to late payments in the last 12 months, uh, specifically mortgages, but really any kind of late— if they're having troubles paying their bills, if they're doing a fix and flip, how do we expect them to pay their vendors and their contractors, right? So if they can't manage their own money, how are they going to manage a fix and flip property? And then for DSER, um, you know, that's something we want to make sure that they're going to be held responsible to continue on that payment even if they don't have that client. Making that payment for them. Okay. BKs, foreclosure, short sale, pretty standard. We have a 36-month lookback on that. Types of properties that we don't do. Okay. So we don't do commercial only. We do mixed use, but we have to have a larger square footage and income when it comes to residential than commercial. We don't touch manufactured. Over 2 acres, typically we don't touch. However, on the bridge product, we do have a little bit of flexibility. We just have to scope out that particular scenario for you and talk about it in depth before we can make that judgment call. We don't do tiny homes, tiny units, small square footage. I want to say on— Douglas will have to help me out here. I want to say it's 700 on your single family. 400 on your multi-units, right?

Correct. And it also depends on what type of, of, um, property type we're talking about. So single-family, $700, um, condos, we will go down to $500, and duplexes, triplexes, quads, so 3 to 2 to 4 units, um, $500 minimum. And if you are dealing with a multi-family, so a 5+ 10-unit, 12, 15, 20-unit, or greater, then yes, we will go down to $400,000 on a consideration.

Perfect. Thank you so much for that. Uh, and that's why we have great people like Douglas here on the call to be able to chime in. So appreciate you, sir. Uh, we don't do yurts, unique homes, right? So, uh, log cabins actually are a possibility. Um, we do, we do have a program where we might be able to fit them in. Uh, we just need that property address up front. You might need to give us 24 or 48 hours to do some digging into it. But cabins, as long as it's common to the area and not considered unique to the area, it's possible and it's not too rural. That's the other thing. So, you know, I originally I'm from Arizona, so, you know, there's lots of towns up there that have cabins, but they're like subdivisions of cabins, right? And they sit on half-acre, acres, things like that. I know they're like that all across the country. But then there you have those other ones that are, you know, those are true mountain homes away, isolation. Those are the ones we know we can't touch. We do not do primary or secondary homes. For a while there, we were offering agency type stuff, but we really don't. We love to stick to our bread and butter. It's those fix and flips, those business purpose type loans when it comes to real estate investing. And then we have our states we don't touch. We don't touch Arizona, we don't touch Nevada, we don't touch the Dakotas, Alaska, and then California. I have a little asterisk. I could probably put an asterisk in a couple different states. But you have to have an NMLS license for you to close a 30-year loan in California. We can do bridges. That one's easy. But California, when it comes to those 30 years, you have to be licensed in that state in order to originate them with us. All right. Next one's character. So what we don't do, we don't do felonies, judgments, financial crimes. And that's a broad, broad topic there. Sadly, you can come across people who had felonies in their 20s, which was like the late '90s. Depending upon what it is, we may not be able to touch it. And I'd love to give you like, oh, these are always okay or these are never okay. The ones that's never okay is really that financial crime. When it comes to judgments, judgments have to be paid prior to closing. For those of you who have ever dabbled in the agency world, a lot of times they can let you pay those off through the transaction. Our judgments, you have to pay them off before. So if you know your client has judgments on there and they are unable to pay those off prior to closing, we won't be able to help them out. We can't include that in there. Right. And then last thing we don't do is you don't steal, borrow, or solicit your clients. And I wanted to put that on here. I know we talked about a lot of things we can't do, but this is definitely one thing we don't do. We keep your client profiles completely separate from who we market to. Who we talk to, right? So you all, most of you probably got an email about this. You are in a different CRM system when it comes to our marketing and who we talk to and where we keep your client information. That's strictly in our lending system. We do not send any kind of marketing email or materials out of there. We only pull it up for servicing needs post-closing. That's it. So our signup is actually, I would say, uniquely different and easy. Um, it's a handshake deal. We don't have broker packages. We're not signing people up. You don't have to do a certain amount of quality. So if you're a first-time broker, you know, a first-time broker, uh, that, you know, they're struggling to find a lender, we're willing to help them. We'll talk to them, right? There's kind of an interview process. We do some discovery calls and, and learn more about you, your practice, and what you're learning to obtain, right, within your, your business. But, you know, you, you give us a call All we really need from you is an invoice for you to get paid later down the road. That's it. Right. And so a lot of that responsibility in the sense of where you lend, what you can lend on, the whole nine yards is up to you. Right. And your due diligence. But at the end of the day, we're here for our brokers. I want to make this as easy as possible for you to find funding. So does Douglas. So does Toby. That's why the company was started and created the way it is. We want to make this easy for people. It shouldn't be so hard to find lenders and borrowers that are willing to help you out. Okay, so another poll, poll time. We will start with the, um, completed project. So this is really important, and I will actually backtrack just one slide, um, to talk about fix and flip. But let's talk about a completed project, right? So I'm going to put a poll out there. How do you describe a completed project to your fix and flip clients, right? Or ground up. So this same question applies. So we— I put a few options out here, right? You would describe it as properties— uh, it'd be nice if I could spell correctly— but properties they have completed a rehab on, properties either fully completed or still under renovations, or properties of a like-kind amount that have been completed or refinanced or sold? Take a moment. And if, if I get goose eggs across the board, it's okay. It's all right. That's why we're here to talk, because some lenders may have a different definition of what experience is or completed project is. So I want to make sure that we are all on the same page, at least as if you bring us a deal, you understand what kind of questions you're asking your clients. Well, we're about 50/50 here. Who's going to take the lead? Choice number 3 is pulling ahead. All right. So I will talk about that. Douglas, please feel free to chime in anything you'd like to add, sir. But it is number 3 when it comes to how does Global Integrity Finance look at a completed project. If you have a client that comes to you and says, hey, I want to do a rehab, property's worth $500,000, I want to put another $500,000 into it, right? And I'm going to sell it for $1.5 million, $2 million. Great. Love the enthusiasm. Love the energy. What have you done before this project? Well, I did 5 other fix and flips. Okay, tell me about them. Well, you know, one was for $100,000 rehab, one was for $50,000 rehab. One was for, you know, $20,000 rehab. Okay, 3 out of the 5 that you've done are pretty low value comparison to what you're going after today. So that's where we can struggle in qualifying some deals sometimes. People love the biggest, baddest house in the neighborhood. People love challenging projects that, you know, can cost substantial amount of money, but we have to make sure you can manage it. At the end of the day, this is all business for all of us, right? So I need to make sure that you're going to be able to not only complete the scope of work that you set out to complete, but you're going to do it in a timely manner to where I don't have to keep extending your loan on the back end. I need to make sure that there's no liens and people fighting for a position to get paid because you can't pay them out on time. So that's where we really look at that completed experience to say, okay, have you done something like-kind, right? If you've only done single-family homes and now you're trying to do a $500,000 multifamily, whoo, that's tough. Let's see if we've done maybe some 2 to 4 units, right? And worked your way up. And that's what these clients, one, should really understand, right? It's like baby steps. You don't want to get in over your head too soon. But two, that's something I feel like we as a lender and maybe even arguably you as a broker should help guide them, right? Like, let's find something a little bit easier. We've had people come to us and their first fix and flip is a total, you know, fire burned, tore down house. That's a huge project for anybody. Right. And especially if you don't have a contracting background, that's tough. So that's where you really have to take a moment. And, you know, we may even annoy you at times and I apologize, but I don't at the same time, because it is our job to qualify these deals. It's our job to make sure that we're taking in good loans and you have a good loan too. Right. Because all the, all the borrower is going to remember at the end of the day is you're the one that gave them the loan, right? You said, oh yeah, you can do it. You got to be brave enough to tell them no. Okay, next poll that we will do is let's talk about timeframe. So look back timeframe when you talk about experience, right? Or these completed projects. When you're asking your client or you're looking into their experience, what do you think is the appropriate timeframe to start asking about? Is it 1 year, 2 years, 3 years, 4 years? 100 years.

So Brian, while that's being answered, I'm going to circle back to the last poll that, you know, when you're dealing, as Brian mentioned earlier, with the agency side and, you know, the Freddie Fannie and everything, it's very black and white. And then on our side, we live in the gray. So it's finding the pathways, finding the ability to be able to make you a hero and fund your clients' properties, fund their, fund their loans. So especially the scalability is very important. So back to the situation that was used, you're trying to do a half of a $500,000 rehab, but your most greatest experience was at $100,000. You don't have that performance. However, as you scale and grow, so you did a 20, then you did a 60, now you've done 100, then you did a 300, 400. You've shown that ability to continue to grow your scalability and grow your experience. That leads straight into moving up to the 500, the 600, the million. Same thing goes with if all you've done is single families, then you want to jump into the multifamily, the 5+, not a 2-4, the 5+ is you don't have that relative experience or jumping into the mixed-use. However, you've done a couple of single families, you did a commercial building, and now you're getting into mixed-use. You know, we can make that correlation work for you as well.

Perfect. Thank you so much. And so looking at the timeframe, right, what's important? I would say 1 to 2 years is definitely important, but we can go up to 3. So the mix that we see within our clients, what we send out is it's basically a really fancy Excel sheet and we have one section that talks about your completed, right? The ones that you've sold or refinanced out, those completed projects. There's a section for that. And then there's a section for everything you've kept, right? Your REO schedule, if you will. But it also breaks down which ones of these did you rehab, which ones of these did you fix, what was your percentage of ownership. Quick note on that. They're a 10% owner in a business. That does not mean that they actually took charge. They were really pivotal to the success. They might have just been collecting a residual check off of the income of that project. So we look for those people with majority ownership in the sense of their experience, and those people need to be on there. If you have sponsorship issues where, you know, hey, my client doesn't have enough experience for this deal, but we have somebody else, give us a call. We'll talk you through how that works. I don't want to get into the details of it on this, But there are avenues that we can explore depending upon credit profile, property type, project, the whole nine yards. But the look back we go is 3 years. 24 months is the most important, right? So we'll get those, those sheets I was just referencing and we'll get them. And it's everything from 2005 to 2019.

Great.

Yeah, they've done so many and I get it. And I'm not saying it's not worth anything, but it's the last 3 years that's worth the most. Because if they took a break for a while, now they've gotten back into it. The market changes all the time, especially right now. And who knows what it's going to look like next year after the election. So we have to make sure we're looking at that most 3 years, 3 years. And that's what we're going to count up in the sense of, okay, when did you, you, you bought and sold this one? When did you buy and sold this one or sell this one? Dollar amounts, the whole nine yards within that time frame. If there's any exception to be sought out on some of that older history, we'll definitely look into it. But that first 3 years, that's, that's the, the key indicator right there in the sense of what kind of experience can we use to qualify. Anything there, Douglas? Okay.

No, not at the moment. That was perfect.

Perfect. All right. So we'll jump back ahead. We talked about what we don't do already. And the next one, because we're kind of, we're getting ready to wrap up here in a little bit. We'll talk about fees and our process in the next few slides. So upfront qualification, you give us a call. I need to know the property borrower's address. I need to know what you're thinking about for their credit score. I need their experience, right? Or at least what kind of homeownership they already have if we're talking DSCRs. And we will talk through— there's a series of interview questions that all of our account executives will run you through and they'll say, okay, thank you so much. Let me go ahead and dive into that information, we'll price it out, we'll give you a call. We don't want to shoot from the hip all the time because that's when things— that's when things get messed up or mistakes are made. So we like to kind of dive into that information, really take time within our tools and in-house processes to make sure that we're qualifying your deal because I'd hate to send you on a term sheet that I never could have done anyways. Right. So allow us that time. Make sure you buy us enough time to help you out. And you should be doing that with any of your lenders. If they're just sending you a term sheet off the bat, I don't know how well they're really qualifying it. So I would say we do a lot of our heavy underwriting-type activities on the front end. So that way it's a little bit easier during processing and it's much more of a document-collecting stage, which, right, in the point B, document portal. So we, the lending system that we have, we have a document portal where when we send our needs list out, they'll be able to just click, drag, click upload, whatever, uh, into that portal for different documents that we need. Uh, and there's detailed explanations as to what we need, why we need it, the whole nine yards that come out, uh, that are also located in that portal that help you help your client out, uh, as well. So if you're white labeling, which is an option with us, if you white label with us to where it looks and feels like you the entire time and, and you handle all the communication with your clients, um, you'll be able to take those documents and drop 'em in on their behalf. Last one, a little lengthy, but I want to make sure we, we have simple, but we disclose our costs. And just yesterday, uh, like Wednesday, uh, one of my account executives sent me a term sheet and said, hey, this just doesn't look right from this other lender, can you help me break it down? And I won't get into all the details, but most of them that I see and Douglas has seen, they don't disclose quite everything to you. And I'm not saying because they're sneaky or anything else. I know there's some things on mine, like I don't include an appraisal cost, right? I do include some third-party fees, but like the appraisal, I just don't include. I don't know what it's going to cost. It could cost you $500. It could cost you $5,000. It depends on your property type, location. What's— we do have our origination charge. So our origination charge is anywhere from 1% to 2.5%, depending upon the program. We do have a minimum of $2,500. Due diligence, $375. And then underwriting and processing is $1,250. So everything else is considered a third party. So you have your appraisal that doesn't go to us. Desktop review, AVMs, it's kind of our QC check to make sure the appraiser's on— the appraisal is good. Everything's fine, right? In the sense of that value and what everybody's saying is the ARV, the current value, the whole nine yards. That doesn't go to us. And then the closing agent, you know, fees, title, doc preps, surveys, none of that goes to us. They just cost of doing business, right? So a lot of times we will reach out to the client. We have different credit card authorization forms that we have set up to where, you know, these are the things that we'll be calling you on to have the client pay for directly. So, you know, it's not coming to us. We're not skimming anything off the top. Just it is what it is. We work very hard to find our vendors. To get the most competitive pricing across the board. We are actually set up with about 5 different AMCs. If you have an appraisal from another transaction, small possibility, but a possibility that we can actually use that appraisal. So just make sure you have a copy of it. You send it on over to us. If it's went through an AMC, we're much more inclined to say yes to something like that. If it didn't, um, we might have to say no, uh, depending upon the product, as well as maybe go up for additional review of something along those lines. 2 things I want to talk about from a broker education standpoint. Unique costs, things we don't— we do not charge, but you could have to have an engineering report. So if you have a major rehab of a, you know, we can call it act of God, fire, flood, you know, I don't know, crazy mold-infested home, something along those lines, and the thing needs to be rebuilt, you could need an engineering report. We have to see what kind of, um, status is that property in right now, or state is that property in right now compared to your scope of work? And is this going to be feasible? Is the amount of work you're getting ready to do on this property feasible enough to keep the integrity of this home? Right? Because we don't want the wind to blow in 6 months and have that house just fall over. Uh, and that kind of leads in line with the feasibility, which is a little bit different. Feasibility, your major rehabs. You know, is what you're doing worth what you're saying it's going to cost in rehab? Is it enough? Right. So that's where an expert kind of gets online, looks at your scope of work, looks at the appraisal, looks at everything involved and says, yep, this is enough money and it makes sense based on building costs and labor costs and things like that in their area. So throughout our underwriting process, we try to catch these things upfront as much as possible. Sadly, every once in a while, on a blue moon, you can get a curveball tossed to you. Where it's like, oh, nobody knew the property was in this kind of condition, right? But we'll find that out together. But those are unique costs. Not everybody knows about those. Not everybody has to experience those. So I want to make sure I call those out for your education. Next up is our loan process. I've shortened it. We actually have a lot of different stopping points. Our underwriter touches the file probably 3 or 4 different times throughout the process to make sure that we are on track for success. But upfront is the term sheet. It's where our account executive, a.k.a. sales consultative person, is in the mix. They're qualifying your deal. They're going to seek out exceptions and solutions and things like that for you. They'll send you a term sheet. Term sheet, you have your client sign it. They say yes. That's when we start working on things like a borrower's authorization and full application, credit card authorization, and start collecting a few docs upfront. Once we get those documents in, all the signatures, that's when we move to order services. We do the order-outs for title, appraisal, start working on, you know, insurance updates, things of that nature. And then we have our initial underwriting stage. And so before we actually start spending money on appraisals, the underwriter takes a look at it, looks at the property, looks at everything you've already submitted to us, and it's going to be the same underwriter that's going to be the one doing the final approval. So hopefully that gives you a little bit of peace of mind saying, okay, I know this deal is good if I got to the appraisal order stage. Because I know somebody's already taken a look at it. Now, it doesn't mean you don't get curveballs later down the road, right? Because appraisal could come back weird, title could come back weird, nobody was the wiser of these issues before. But at least when we know the parameters that we can control, everything that we know about the file from upfront, that underwriter is going to be signing off on it saying like, yep, this looks good to go. And that's when they transition over to processing. We start sending out those needs lists and using that document portal to really upload everything needed. There is another underwriting touchpoint in there to make sure, like halfway, once we get that appraisal and title back, you know, halfway through that process, if we're still missing some docs, underwriter will look at it and address any needs there or stamp them for approval, uh, get the remaining docs. And that's when we get you to closing, right? Uh, we get that final underwriting in there, schedule the closing, and most importantly, get your client funded and get you paid. Okay. In order to get you paid, we just need that invoice, your letterhead, your business. How much you're getting paid, which we have already talked about at the term sheet stage as well, in order to give it to Title to set that up to get you paid. Submitting deals. I know we got about 5 minutes left. We only have a few slides, so just kind of hang with me. I appreciate y'all interacting as well as hanging on. The submitting deals. So, biggest thing that we want to know is The property and the loan backstory. If you know anything and everything you know about this property, I need you to tell me about it up front. I don't hide it. I don't want to waste your time. I certainly don't want to waste my own time. But anything with the loan too, right? So one of the things we hear from brokers a lot is, well, they change terms on us last minute. Most lenders just don't do that, right? Unless there's some catastrophic pricing adjustment or something like that, which I, I know does happen, right? I'm not saying it doesn't. Um, but if you've been shopping this around, you've been talking to other lenders, that's cool. You have to have your options. No harm, no foul. But when you come to us, if you've already shopped it out, just shoot it straight with us. Here's what issue we ran into. Here's what happened. Here's everything I know— the good, bad, ugly, and indifferent. Okay, same thing with experience. It can be tough sometimes for us to get information from borrowers. So I can only imagine what kind of situations you have to go through to get experience from your borrowers. But we may ask for some documents up front to really prove experience. We have a lot of tools in-house so we can look at ownership and do all these different things to prove that history of what they've done. But sometimes we do need the borrowers to interact and give us some things to tell us, hey, what is really your experience or clarify what your part in all this was. And the last thing was important documents. I'll let Douglas talk about that for a moment. Just when you're submitting doc or deals, what kind of documents are really important to focus on?

And the biggest thing is, is kind of to piggyback on the property, the backstory and where the loan's been is, and I know several of you have probably heard this from me, you have to look at me like I'm your defense attorney. For your investor, whether he killed the person or not, I don't care. But tell me where he buried the body and then I can build a case around it because everything's going to come out. Will— everything gets determined and figured and they— we— things just come out in the wash of where it's been. So and then moving forward in getting documents in, we only look for about 5 or 6 items depending on the type of loan and the type of situation. Of course, application, our borrower's agreement, the term sheet, everything digitally signed, copy of their driver's license. If it's a rehab loan, so a bridge loan with rehab, a scope of work, scope of work must match dollar for dollar based off of what the term sheet has stated. If it's a purchase, the purchase contract and all addendums, that copy with it. If it's a refinance, then of course the HUD-1, from the purchase of the last refinance and the warranty deed, and then any LLC docs that you might have. So we don't need all the LLC docs or corporation docs for the entity upfront, but we do need at least a couple for when we do the background check on the LLC. The most— to probably one other important aspect in getting things going and moving forward into order services and processing is having title contact. So when we bring the loan in, everything's reviewed, initial underwriting is reviewed. When that appraisal is ordered, we order title as well. So we have to have all that up front to make it a very smooth and seamless process for you and your investor.

And if you don't have one, we partner with ResTitle. They're amazing. We also know a lot of local ones here in Texas and some others that we deal with. For whatever reason, ResTitle can't help us out in your particular state, your borrower situation. They have a lot of referrals, a great lending network or referral network for us to lean on other title companies that will still provide us that top-notch quality. But we have an amazing, amazing relationship with ResTitle. So if we can, you know, go that route, we'd much rather prefer to do it because we just know it's kind of make that deal that much easier for everybody involved. And then for the scope of work, there is a video on our website. I invite you to check it out. In the coming weeks, we'll be launching a new website, but under the draw process, there's a video actually of kind of why that scope of work is so important and what that draw process is like. So I won't dive into it out of the sake of time, but I want to make sure that you all know where to find that. It's in our draw section within our globalintegrityfinance.com website. Lastly, just some feedback, bringing it all back. Like, why would you want to work with us? And this is real feedback from our people. I try to reach out to brokers on a daily basis to get their feedback as to, hey, why did you not move forward with us? Or, you know what, hey, I'm so glad you moved forward with us. What is it that we did? What is it that we can do different? What is it we can do better? Right. But communications and operations is amazing. I know exactly what is needed and why. And that's in reference directly to the You know, the needs list that we send out. And then, you know, another bit of feedback that we get is they're brave enough to tell me no instead of just stringing me along. Like I said, we don't want to waste your time. We definitely don't want to waste ours. So telling us everything upfront, being as transparent as possible is huge because maybe it's a deal you can't do right now. But if I saved you the headache on it, I might save you headaches on future ones. But I definitely can help you out on the other ones that we can do, right? And you're going to trust me that much more to get that deal done for you. And then the last one's, you know, my work and my account executives is much more like working with a friend. We don't treat our people like numbers. We shouldn't. And if you ever are, I expect you to call me and call Douglas and say, hey, I wasn't treated fairly. Like, it doesn't seem like you guys care. We want to know these things. We want to take care of you. You know, it's— this industry is way too small to burn bridges and treat people like crap. And that's not what we're intending to do by any means. So we are open books. We're open to the feedback. Bill is as well. I know he's on the call today, but, you know, reach out to us, give us that feedback. About 30 minutes or so after this invite or after this webinar, we'll be sending you a survey. I would appreciate it if you filled it out. It's about 5 easy questions. But, you know, what I'd like to do is continue to stay connected. I'd love to hear from you. So you'll get a form for a survey to tell us how we did, what you thought, what you liked, what you didn't. And then also you'll get another one that says like, hey, I want you to call me right away. And it's just a little form you just fill out and it's an event form, fill it out and click it. So the QR codes, uh, I encourage you to scan these. If not, you're going to get a recording of this so you can scan them later as well. Um, but the one on the left is you want to speak to us at that Connect card that I was telling you about. And then on the right is actually a, probably like a joint partnership we have to find off-market properties. So, you know, we deal a lot with the fix and flip, the turnkey properties. For those real estate investors. And so going to Zillow is not what it used to be. Um, sometimes going through real estate agents, especially with everything going on, may not seem as appetizing. This is a great avenue for people who want to find the property to fix and flip. And even once they find that property to fix and flip, they can then repost it and sell it on that same platform from start to finish. So our information's down at the bottom. Our general email is right there. Most of you should have account executives or may not, But if you don't have an account executive with us, reach out to info@globalintegrityfinance.com or you can reach us at 214-548-5190 or we're on almost every single social. Reach out to us. Let's connect. Thank you all so much for your time. We will stay on for a little bit for any open Q&A, anything like that. I think you just have to click request to speak and we can talk for a bit. Thank you all so much. Have a great day. Go ahead and drop off if you want to.