Commercial Mortgage Process
Our commercial mortgage process is a seven-step financing process — and our commercial team will guide you through from start to finish.
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Application submission
An MCAP Originator will size the loan by completing an early assessment of the loan’s viability, evaluating the loan size, interest rate, term, amortization, prepayment options, and requirement for reserves and security.
Contact our Origination Team
Sizing of the loan will form the basis of a letter of intent. -
Issuance of letter of intent
A letter of intent (LOI) is a non-binding offer to finance. It provides a borrower with a high-level overview of the lender’s terms and conditions.
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Acceptance of the letter of intent
Once the letter of intent is accepted by the borrower, it is to be signed by the borrower and returned to MCAP.
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Underwriting of the loan
When MCAP underwrites the loan, the team completes the necessary due diligence to accurately assess the risk and return that the lender is taking on by making the investment.
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Issuance of commitment letter
The underwriter issues MCAP’s standard commitment letter directly to the borrower or the broker. This letter is the contract that binds the borrower and lender to the loan transaction.
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Return of commitment letter
The borrower or broker returns a signed copy of the commitment letter, meeting all conditions indicated within.
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Funding instructions sent out
The loan team receives detailed instructions outlining the required tasks to successfully close the loan.
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Loan boarded to servicing team
The loan servicing team collects payments and distributes them to investors. The servicing team ensures the interests of the borrowers and lenders remain well protected while the portfolio management team handles post-funding requests.
Learn more about our investor servicing
The commercial mortgages team provides loan servicing solutions for institutional investors.