Loan Closing

Penrose ensures quick and efficient loan closings with the
assistance of a Closing Coordinator on staff.

The Closing Coordinator is dedicated to each transaction
from the issuance of the loan commitment through the
day of closing. By facilitating and maintaining
communication among all involved parties, the
Coordinator makes certain that all requirements are met,
all deadlines are upheld, and after closing has occurred
that all appropriate documentation is transitioned
appropriately over to our Servicing Department.

Within the past five years, Penrose Financial Services has
successfully closed over $1 Billion of debt financings.
Charts on the right side show breakdown of these
financings by property-type, Loan-size, and geographic
locations.

Loan Servicing

As the servicing representative for our correspondents,
we serve as the point of contact and communication
between a Borrower and Lender. Our experience and
expertise helps the Borrower interact positively with the
Lender as tenants, market conditions, and properties
change over time. We treat the loans we originate as
long-term assets, which are actively managed through
the loan servicing activities. Our servicing staff takes
great care in understanding how market conditions can
impact an asset.

The scope of loan servicing includes: receiving monthly
payments and remitting the principal and interest to
lenders, receiving annual operating statements,
reviewing insurance policies for compliance with loan
documents, timely remittance of real estate tax, and
performing annual property inspections and providing
substantive reports to lenders.

Our accounting procedures conform to the Mortgage
Banker’s Association Uniform Single Audit standard.