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.

The current commercial lending process is unnecessarily delayed by the steps that take place before an appraisal is ordered. Completing an appraisal takes the longest out of all the steps in the process, often up to 4 weeks.

The BrokerFast Advantage allows mortgage professionals to order an appraisal as the first step in the process. Furthermore, with approval, the appraisal can then be accepted by ALL of the BrokerFast Lenders. This is the beauty of the one appraisal, multiple lender process -- it eliminates the wait time for the broker and lender to engage before the appraisal is ordered.

By eliminating this wait time, mortgage professionals gain a competitive edge in securing their client. Lenders can deliver letters of interest in a shorter time frame with a stronger understanding of the property.