Commercial mortgage brokerage GPARENCY has moved its business from a traditional go-between to connect borrowers and lenders to a membership mechanism with flat-fee pricing. Now, it's adding what it calls "match to lender," a software system that allows CRE borrowers "to search by loan and property type to access every single loan lender in their state."
Until June 30, all borrowers will be able to use the system for free. Afterward, non-member borrowers will only see lenders that are GPARENCY partners. Members will still see the full listings.
In essence, the company shifts from a traditional brokerage to a flat-fee marketplace. "GPARENCY offers borrowers the ability to close their own mortgage deal, for no more than $16,000, regardless of deal-size," the release said. "Lending partners get total access to qualified deal flow for only $5,000 a year."
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