About crefX.com
crefX (Commercial Real Estate Finance Exchange) was created as a platform for the
concept of BrokerFast to emerge. This lending portal allows mortgage professionals to initiate the
appraisal process and expedite the loan to the final funding stage.
BrokerFast is a philosophy of Property Sciences and a commitment by our lender partners.
Our vision is a collaboration between Property Owners, Mortgage Professionals, Lenders and Appraisers that
dramatically reduces the time and expense of obtaining commercial real estate loans. Our mission is timely
collection and analysis of property information needed to screen, underwrite and fund loans.
When this new philosophy is examined it can be shown that if implemented properly, it can actually
provide greater risk management control for lenders, while saving significant processing and operational
costs of origination.
It is important to understand that FIRREA, OCC and FDIC laws and regulations allow this policy. It
saves tremendous time and cost to lenders, and when fully implemented and managed, improves credit risk
discipline within the bank. Upon receipt of a mortgage professional package that includes an appraisal,
the bank can always choose to turn down the loan if the appraisal does not pass normal underwriting and
appraisal review requirements, which will include that the appraisal must be performed by an appraiser
on the bank’s approved list. It is really no risk and only potential gain when the process is better
understood.
BrokerFast lender partners are committed to making the loan origination process as professional and easy
as possible.