Opening of Ace Hardwood Store. Loan provided by Commercial Loan Direct.
When a mortgage interest rate exceeds the interest rate paid on the security backed by the mortgage, the excess interest is “stripped†and sold as an I/O strip; referred to as I/O Strip. The “strip’ is usually described in the (notional) amount of the original security classes it was stripped from and then sold for pennies on the dollar basis. These are very volatile securities. As an example, if several loans prepay earlier than expected there many not be an interest stream to pay the interest on the ‘strips’.
What Clients Say About Us
Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever
- Nirav Patel
If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.
- Vincent Arias
We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them
- Rita Pisarski
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