Are you a real estate owner, mortgage banker or mortgage broker looking for long-term financing with flexible terms and reasonable rates? Did the collapse of the mortgage-backed securities marketplace and the sub-prime meltdown leave you with no options? Forget about calling 1-800-LENDER, or your high-rate multiple-fee financier or, for that matter, even your CMBS lender who is currently on sabbatical.

Instead, reach out to your local bank. Your friendly, neighborhood portfolio lender never left the business. While you experimented with complex loan documents, high legal fees, escrows and defeasance clauses, your portfolio lender has always been there waiting for you to see the light.

When you speak with your banker, be prepared to hear loan terms far different then what you might have been used to. Gone are the days when high-loan-to-values, projected cash flows, low debt service coverage ratios and non-recourse lending were in vogue. Those terms have mostly sunk with the Titanic. The new lingo includes in-place cash flow, amortization and guarantees.

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