For business purpose loans, business purpose construction loans, and even private money reverse mortgages, consider having Doss Law draft your loan docs.  We: 

• Analyze the loan scenario to make sure it is not a consumer purpose loan  
• Scrutinize if a lender or broker license is needed to make or arrange the loan 
• Determine if the deal terms are compliant with the applicable laws depending upon if it is an unlicensed loan, DRE broker arranged loan, CFL lender loan, and CRMLA loan  
• If the borrower is an entity, then we will review all corresponding entity documents to determine the proper signature authority 
• Create properly titled signature blocks 
• Counsel you on legal issues in the deal such as the business purpose exemption, DRE LTV restrictions, DRE construction rules, multi-lender issues, unlicensed lending rules, borrower vesting, identity theft risks, and probate lending 
• Draft custom terms, such as extensions, release provisions, cannabis provisions, paydown requirements, add warrants/options, exit fee, and your custom terms 
• Help you structure the deal, such as guarantees, cross-collateralization, and cross-default provisions   
• Recommend title endorsements  
• Recommend Schedule B Exemptions on the preliminary title report   
• Add additional disclosures and protections for junior mortgages  
• Choose what documents and disclosures to add for commercial loans (e.g., environmental indemnity, subordination non-disturbance and attornment agreement, subordination agreement, and intercreditor agreement)  
• Deal with revisions demanded by the borrower or borrower’s counsel   
• Help you choose and implement securities exemptions 
• Help you with comply with DRE construction rules (if applicable) 
• Add accommodation deeds of trust and guaranty deeds of trust 
• Add security agreements when the collateral involves personal property, LLC membership interests, and corporation shares 
• File a UCC-1 when a security agreement is used   
• After the loan docs are completed and the deal is funded, we can draft any additional mortgage documents, such as: loan modification agreements, extension agreements, forbearance agreements, pre-negotiation agreements, loan default letters, transfer consent and assumption agreements 

If you retain us to document your loan docs, we will give you the full service of all of the above items for a fixed fee.  The larger the loan, the greater your exposure and need for another pair of legally trained eyes on the transaction.  An experienced borrower should appreciate the risks involved and will not balk at the additional cost.  Your investors will feel more at ease too.

Will attorney drafted loan docs scare the borrower away?  This has never happened in 48+ years.  All parties should feel more secure.  

How much will it cost?  Every deal is different.  We will consider the size of the deal, it’s complexity and your timing requirements.  Ask for an all-inclusive fixed fee quote that includes redraws and corrections.

Will lawyer-written loan docs slow the deal down?  Absolutely not.  We will complete the first draft of your loan docs 2-3 business days after you accept our quote and send us everything we need to complete them.  In a pinch, we may be able to complete them faster or even in the same day (if they are not too complex).  We usually make revisions within an hour or two.

No matter what, you should review the loan documents carefully before asking your borrower to sign them.

If you wish to become a client, contact us, and let us help you prosper — safely.