Whole Loan
development
Whole Loan
Basic Terms: NYMT’s investment must meet the general requirements as noted in its Investment Focus.
| Minimum Loan Amount | $45.0 million |
| Maximum Loan to Cost | 85% |
| Structure | 1st position lien and pledge of equity interest |
| All-In Rate | 6.0% - 8.0% |
| Origination Fee | 1.0% |
| Minimum Term | 24 months |
| Investment Term | 3 years interest-only, two (1) year extension options |
| Surplus Cash Flow | Full Sweep to DSCR |
| Recourse Obligation | Non-recourse completion guaranty & standard carve-outs |
General Characteristics
NYMT’s ‘Whole Loan’ investment structure has the following characteristics:
- Combines senior and junior debt into a single loan to achieve a higher LTC with a ‘one-stop shop’ execution
- Securitized by a 1st lien priority security interest and pledge of membership interest
- A single loan agreement and point of contact to document the structure
- Certainty of execution via NYMT’s extensive banking relationships