Company launches a new product that lets lenders shoulder the costs
GPARENCY has rolled out a new product that eliminates mortgage broker fees for the borrower, with lenders covering the cost instead.
The commercial mortgage brokerage announced Monday that it is offering an "exclusive perk" for members borrowing agency or CMBS loans above $10 million. With the new product, GPARENCY will charge lenders the mortgage broker fee instead of the borrower, making the process "more affordable and efficient" for all parties involved.
Launched in 2021, GPARENCY is built around a membership model that only charges flat fees and zero commissions. The New Jersey-based company charges its members either $11,000 upfront or 0.25% or ¼ of a percent.
"GPARENCY is all about challenging the status quo and transforming the way commercial mortgage brokerage services are provided," said Ira Zlotowitz, CEO of GPARENCY. "By introducing this unique perk for our members, we're taking another significant step towards a more transparent, cost-effective, and customer-centric approach to the industry."
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