Types of Loans
Secured Investment Corp lends on residential and commercial property throughout the country. Our loan size generally ranges from $25,000 to $500,000. Our loans are all secured by a first or second deed of trust. We do not lend on owner occupied properties. Our loans are all originated by a business entity. We do not lend to individuals.
Our loans are sold to single lenders and are not fractionalized. This means that the minimum investment for a lender to fund a loan is $25,000. Our loans range from six months to 2 years. The lender holds the first trust deed on a loan, and collects the monthly interest payments for the life of the loan. Some states require that a lender be an accredited investor. Also investors in the Secured Investment High Yield Fund must be accredited. Our Funding team can discuss the requirements with you.
How it Works
Cogo Capital, our sister company, has marketing programs and affiliates that provide it with a significant number of lending opportunities every day.
A borrower will either sign in on our web site with a property that they would like to use as collateral for a loan or they will call our corporate office asking about our loan products.
We have a team of outbound sales representatives who process these requests and determine whether the loan fits within our lending criteria.
For those loans that fit our criteria, we then deliver the relationship to our loan officers. They order an appraisal and work with the borrower to finalize the parameters and price the loan.
Our processors then work with the borrower to obtain all of the documentation necessary to underwrite the loan.
Our loans are underwritten to determine that they meet our specific lending guidelines. Upon successful underwriting, our loans are originated utilizing funds from our Secured Investment High Yield Fund.
These loans are then sold to individual investors. Our funding department provides the investors with the loan information, and upon demonstrating interest in a specific file, all underwriting information is shared with the lender.
Our lenders generally yield north of 9% on the loans that they fund. All loans are non-amortizing loans with monthly interest payments due. Our sister company, Lake City Servicing, services all of the loans that we originate through the life of the loan, and the monthly payments are collected by them and then remitted to our lenders.