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EPISODE DESCRIPTION
In this episode, Dean & Jason are joined by Brad Graham and Loren Hawkins of Three Point Capital.
Brad is the Chief Credit Officer & Principal Broker of Three Point Capital, bringing with him over 32 years of industry experience in real estate, mortgage lending & commercial lending.
Loren is the Director of Broker Relations in Western Canada at Three Point Capital, making the move in October of 2019 after a successful 22-year career with multiple BC Credit Unions.
Three Point Capital Corp. is a Mortgage Investment Corporation (MIC) and non-bank mortgage lender with a portfolio totalling $270M, focusing primarily on residential mortgages under $500,000.
Brad & Loren are here to discuss:
→ Their backgrounds and what led them to joining Three Point Capital.
→ The journey of Three Point Capital and why they chose to be a conservative MIC lending primarily in residential mortgages.
→ Where Three Point Capital lends and how deciding on lending locations is more of an art as opposed to a science.
→ Unique Three Point Capital lending products, including their flexible Pathfinder & Elevation programs and residential construction options.
→ How to package a deal for Three Point Capital and the importance of utilizing your BDM to get files funded.
→ Common mistakes brokers make when submitting deals and how to fix them.
→ Three Point Capital's deal escalation process, why they want to tell you no quickly, and referring deals they can't do to trusted sources.
→ Why they never race to the bottom on rate and how doing so would hurt not only their investors, but also consumers.
→ Current trends in the housing market including it being down overall, and MIC/private deals becoming more common as consumers are facing more financial challenges.
→ Advice for brokers trying to build in this space and why it's so important to find the MICs that suit your client base.
Three Point Capital Website: www.threepointcapital.ca
Three Point Capital LinkedIn: @ThreePointCapital
Three Point Capital Instagram: @teamthreepoint
Three Point Capital Facebook: @TeamThreePoint
Brad Graham's LinkedIn: @BradGraham
Brad Graham's Email: [email protected]
Loren Hawkins' LinkedIn: @LorenHawkins
Loren Hawkins' Email: [email protected]
Justin Theriault's LinkedIn: @JustinTheriault
Justin Theriault's Email: [email protected]
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CHAPTERS
00:00 Intro
01:16 Brad's Background
02:33 The Journey of Three Point Capital
06:31 Loren's Background
12:04 Where Three Point Lends
14:19 Why Three Point is a Conservative MIC Lending Primarily in Residential
17:41 Deciding on Lending Locations - Art vs Science
21:17 Utilizing Your BDM to Get Files Funded
23:54 Unique Three Point Lending Products
30:37 Three Point's Residential Construction Program
34:54 Changing Policies & Never Racing to the Bottom on Rate
40:12 How to Package a Deal for Three Point Capital
42:18 Common Mistakes Brokers Make When Submitting Deals
45:32 Deal Escalation & Wanting to Get Deals Funded
48:28 Current Trends - Housing Market is Down, MIC/Private More Common Option
52:07 Find Your MICs
52:40 Advice for Brokers Building in This Space
55:56 Wrap-Up
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📋 Deryk Williamson's LinkedIn: @DerykWilliamson
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