FAQ's
Q: What is different about ICCC™ from other commercial lending sites?
A: ICCC™ uses the commercial lending software "KISCL©" to streamline the input of all the necessary information to secure a commercial loan. You enter the property information first, and then the KISCL© team will do the math to provide you with the best financing options available for the best rates and/or maximum loan dollars with the best rates. The basic input process takes less than 5 minutes of your time. ICCC™ is on the cutting edge of technology for commercial real estate finance.
Q: What is unique about the KISCL© software?
A:
The KISCL© software is a commercial mortgage banking system that assembles a PDF submission package, which presents the transaction to lenders in a professional format making it easier for them to screen. KISCL© can submit a transaction that is completely underwritten to professional underwriter or loan committee standards. This is very respectful to a lender's valuable time when shopping for the best deal. We make sure that the lenders do not have more than 5 minutes worth of work to do to respond in writing to our submission package. This avoids losing credibility for consuming the lender's time with piece mail faxing, e-mails with stories and multiple phone calls without the proper information. We simply present the transaction the way a lender will systematically preview it.
Q: What is the benefit of using ICCC™?
A: The primary benefit of ICCC™ is our professional experience in commercial lending. With our in-depth knowledge of who the top lenders are, we are able to sift through the hundreds of lenders for the best fit. The ICCC™ process is to first underwrite the property with lender/appraisal guidelines for expenses. We then compare the operating history line item by line item to avoid duplicating any expense (double dipping), as well as separating all replacements and capital improvements from normal operating expenses. This process is simply "Underwriting 101". However, the majority of the market players do not take the time to do this up front. We do not bait and switch by quoting loan programs per rate sheets and then wait to see what the appraiser and underwriting will do. Our clients prefer to know exactly where they stand in the beginning with all the financing options available.
Q: What type of client does ICCC™ represent?
A:
ICCC™ represents the professional investor to Fortune 500 companies. People come to ICCC™ because we are professional, and committed to getting the loan closed, creating an enjoyable experience in the process.
Q: What is a mortgage banker or correspondent lender?
A: A Broker Correspondent Lender is an experienced mortgage broker who has been selected by a lender to represent and market their niche loan programs as outside agents or affiliates. The typical advantage is the ability to concurrently underwrite the property together, often via e-mail with limited phone calls, and to interact with direct decision makers to get the loan approved. The bureaucratic process of sending information to an account executive, who in turn sends it to a manager, who then sends it to an underwriter, who in turn sends it to a credit officer, is old school. This process can normally take days even weeks. Instead, a broker correspondent underwrites the transaction, sends it directly to the decision maker via e-mail and discusses the loan over the phone, if necessary. The appraisal is also ordered directly via telephone or email.
Q: Does ICCC™ offer training?
A: Yes. As a mortgage banker correspondent and experienced mortgage broker, we also train real estate and mortgage professionals using the KISCLcopy; software.