LMF Commercial, formerly known as Rialto Mortgage Finance, is not a bank in the traditional sense. Instead, it functions as a commercial property mortgage lender.
Understanding LMF Commercial
Key Functions
- Commercial Property Mortgages: LMF Commercial specializes in providing loans for commercial and multifamily properties.
- Non-Recourse Loans: Their loans are typically non-recourse, meaning the lender's claim is limited to the property itself, not the borrower's other assets.
- Long-Term, Fixed-Rate Loans: They offer long-term loans with fixed interest rates, providing stability for borrowers.
- Nationwide Lending: LMF originates these loans across the United States.
What This Means
Unlike traditional banks which offer a range of financial services, such as savings accounts, checking accounts, and personal loans, LMF Commercial focuses specifically on:
- Originating Commercial Mortgages: They create and issue mortgage loans for commercial properties.
- Managing Mortgage Assets: They manage and maintain their mortgage portfolio.
- Supporting Real Estate Investors: Their services primarily serve investors looking to finance commercial real estate ventures.
Who LMF Serves
LMF Commercial primarily serves:
- Real Estate Investors: Individuals and firms investing in commercial and multifamily properties.
- Property Owners: Those seeking to refinance or acquire commercial real estate.
How LMF Operates
- Loan Origination: The process of creating a new mortgage.
- Underwriting: Evaluating the risk associated with a mortgage.
- Servicing: Managing the mortgage loan over its term.
Key Takeaway
LMF Commercial is a specialized commercial property mortgage lender, not a traditional bank. It focuses on providing long-term, fixed-rate, non-recourse loans secured by income-producing properties across the United States.
