Wall Street's Departure is Private Trust Deed Investors' Gain
Recently Lehman Brothers Small Business Finance left the subprime commercial mortgage market. Bayview Financial, which includes Commercial Direct, Interbay and Siverhill Financial, has dramatically curtailed its subprime commercial mortgage lending as well. Wall Street has essentially abandoned subprime commercial mortgage lending.
As a result, Blackburne & Brown, a subprime commercial hard money broker that is still in the market, is enjoying a wonderful influx of subprime commercial mortgage requests. It's simply marvelously. We're getting numerous commercial loan requests that easily would have been bankable eight months ago.
If you are an accredited investor residing in California, and if you have been considering investing in first trust deeds, now is a very interesting time. The quality of the first trust deed that a private investor can find these days is unusually attractive. Many of the better quality deals that used to be going to Wall Street and to the banks are now being forced to go to hard money brokers.
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