Private Money411 Magazine - The Source for Real Estate Finance | Page 8

THE BANKER RULES
The person who underwrites your
deals, owns your business and future.
By Leonard Rosen, CEO
of the Pitbull Conference

I

n today’s sophisticated real estate
market, there are many ways to
build your business. There are
those people who chose to buy
and sell real property, and there
are those who choose to fund real
estate deals. But lurking in the
shadows is a secret person called
the underwriter. The underwriter’s primary
job is to provide their opinion and exercise
their authority over your book of business.
The underwriter is not your friend. The
primary function of the underwriter does
not always align with your goals.
As an advocate for the private lending
business, I see a significant amount of
business turned down or swept under the
carpet on deals that could be or should be
funded. Keep in mind, underwriting criteria
changes often and what once was a great
deal to fund, today for some unfore-

able compensation.
The simple question is: Why are you
giving control of your business and control of your future to another person?

I see a significant amount of business turned
down or swept under the carpet on deals
that could be or should be funded.
seen reason, the deal gets turned down
because the underwriter doesn’t have an
appetite for the type of business your are
submitting. This scenario happens all the
time, leaving the broker with a situation
that does not generate a commission. At
the end of the day, we all work for reasonRealty411Guide.com

PAGE 8 • 2015

This business model makes no sense
to me, and yet most brokers accept this
as a fact of doing business on a daily
basis.
I am here to tell you there is a better
Continued on pg. 18

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