Commercial Loan Corporation is currently looking to hire Junior Account Executives (No Experience Required) and Account Executives. We are looking for people that:
Enjoy helping people
Make friends easily
Work well in a team atmosphere
Want to work for a company that rewards employees for hard work
As an Account Executive you will be working with Attorneys, Fiduciaries, Estate Planners, Trust Administrators, Wealth Managers as well as directly with borrowers to help them secure financing for a trust or estate. Our specialized loans provide cash liquidity to a trust or estate. This enables a beneficiary to keep real estate and preserve a parents low property tax base while allowing other beneficiaries receive cash or cash and other assets. We are one of just a few California lenders that will lend directly to an irrevocable trust. Our loans are designed to allow a child to keep a parents low California Proposition 13 property tax base on an inherited home.
We are looking for Account Executives and Junior Account Executives who are reliable, honest, motivated, and are great communicators. No previous experience is required, but mortgage experience, experience in a California Assessors Office, a California BRE License, NLMS License or experience working with legal professionals are all a plus. The Trust & Estate Account Executive and Junior Account Executive positions include a salary, medical benefits, commission and a share of every loan that is funded by the company. You will be expected to make outbound calls each day, take incoming calls and nurture business relationships with legal professionals. These are full time positions. Please send your resume and contact information to email@example.com.
When it comes time to distribute the assets of an irrevocable trust, a trust loan may be needed if an equal distribution is required or desired. A trust loan provides the trust with liquidity; supplying cash so that assets do not need to be sold off or converted to cash. The trust loan is a mortgage placed against a piece of real estate held in the trust. Unlike a traditional mortgage, a trust mortgage loan is typically a short term loan. Once the assets of the trust are distributed, the beneficiary who inherited the real estate with the trust mortgage placed on it would refinance the trust mortgage with a conventional mortgage or payoff the mortgage.
Why Is An Equal Distribution Important?
When it comes to a trust distribution, an equal distribution can be important for a variety of reasons. Often times there is language in the trust that requires an equal distribution of the assets in the trust be made to beneficiaries. If the trust only contained cash, it would be easy to accomplish this. Unfortunately, most trusts that contain real estate do not have cash or other assets sufficient to create an equal distribution. In this situation, either the real estate must be sold or a mortgage must be taken out on the real estate to infuse the trust with cash. A trust loan is almost always the least expensive of the two options. Sometimes, more importantly, it also allows a beneficiary to keep a family home in the family.
Another important reason for the equal distribution of a trust is to meet the requirements of California Proposition 58. Prop 58 allows a child who is inheriting a home from a parent to avoid property tax reassessment on that home. This passes the low proposition 13 protected tax base from a parent to a child. Often times when the home is held in a trust, an equal distribution is required if a Proposition 58 exclusion from reassessment is to be granted by the County Tax Assessors office. In fact, the majority of trust loans that we provide are specifically for this reason. Our clients save on average over six thousand dollars per year in property tax savings by avoiding reassessment.
Do All Lenders Loan To Irrevocable Trusts?
No, in fact very few lenders are willing to lend to a trust, let alone an irrevocable trust. Typically when a home is held in a trust, a conventional lender will require that the property first be removed from the trust before they will lend on it. When a trust is revocable, this may not be an issue since the home can be added back into to trust once the mortgage process has been completed. Once the trust becomes irrevocable, often times the ability to do so is no longer possible and a lender who can lend to Irrevocable Trusts will be required.
When the requirements of Proposition 58 need to be considered, the situation can become even more complicated. Proposition 58 requires that the acquiring beneficiary of the real estate makes no personal guarantee on the trust loan or trust mortgage. Doing so would be perceived as a sibling to sibling transfer of real estate as opposed to a parent to child transfer and would likely jeopardize the exclusion from property reassessment. Commercial Loan Corporation is one of the only lenders in California that provides Irrevocable Trust Loans with no personal guarantee requirements. We work directly with Trust Administrators, Trustees, Beneficiaries, Attorneys and Property Tax Consultants. If you require a Trust & Estate Attorney or Property Tax Consultant to assist you with Proposition 58, we can refer you to an expert to assist you.
Is A Trust Loan Less Expensive Than Selling A Home?
Yes, in almost all cases a trust loan is far less expensive than selling a home. Additionally a trust loan takes less time to complete than it takes to sell a home. We can complete a trust loan in as little as 10 business days. That means beneficiaries can get more money and get their funds more quickly. When you consider the ability to take advantage of the Proposition 58’s exclusion from reassessment, the savings grow even further.
We specialize in loans to Irrevocable Trusts. If you or a client are in need of a trust loan or have questions about loans to an irrevocable trust, please call us at 877-464-1066. We will provide you with a free benefit analysis and answer any question you may have.
If you are attending the USC Trust & Estate Conference on 11/22/2019, please stop by our booth an speak with Tanis Alonso, our Senior Account Executive. She will be on hand to answer any questions you may have on Trust Loans and their role in the Proposition 58 exclusion from property reassessment.
This years USC Trust & Estate Conference has over 500 registrants. The conference is tailored for trust, estate planning, probate and elder law professionals. Attorneys, paralegals, trust officers, accountants, financial institution executives, private professional fiduciaries, wealth management professionals, fiduciary officers, underwriters and insurance advisers will all be on hand.
The Featured Sessions Include:
Annual Update: Recent Developments in Probate and Trust and their Practical Applications
Probate Code §2580, et seq. Whose Judgment Is It Anyway?
To Decant or Not Decant…That is the Question
Mystery in a Mumu: What Makes Your Judge Tick?
Tips and Tricks for Taming Basis
Assessing Capacity on a Sliding Scale: A Look Into Retrospective and Contemporaneous Evaluations
Attorneys and Other Advisors as Counselors: What They Don’t Teach You in Law School
If you are currently working with a client that might benefit from a trust loan, probate loan, estate loan or has questions about lending to an irrevocable trust; please stop by our booth and Tanis can answer any questions you have. You may also call us at 877-464-1066.
Commercial Loan Corporation is a licensed California lender specializing in making loans to trusts and estates. Unlike most lenders who provide a broad range of loans, we focus specifically on trusts, irrevocable trusts and estates. In fact every month we help clients by providing trust loans so that an equal distribution of assets can be made. Our trust loans help beneficiaries meet the requirements of California Proposition 58 and help them to avoid property tax reassessment on an inherited home.On average we save our clients over $6,000 per year in property taxes by helping them avoid property tax reassessment.When receiving a trust loan from Commercial Loan Corporation, you can count on:
An simplified application process
Quick Approvals and Fast Funding
Our Loans Fund In As Little As 7-Days
Same Day Loan Approvals
The Highest Level of Customer Service
If you, a family member, client or friend may be able to benefit from a trust loan, please call us at 877-464-1066. We provide clients with a no cost estimate on how much might be saved by taking advantage of California Proposition 58’s exclusion from property tax reassessment.
Loans to Irrevocable Trusts
Most banks and lenders are not willing to lend on a property that is held in an Irrevocable Trust. Instead they require that the property be removed from the trust before placing a mortgage upon it. This can make it difficult if not impossible for a beneficiary to qualify for Proposition 58. If you are trying to preserve a parents low Proposition 13 property tax base on an inherited property that is held in a trust, call us at 877-464-1066 and we can help you simplify what can be a complicated process.
Commercial Loan Corporation is excited to welcome Jay Rhein to our Trust and Estate Loan team! Jay’s primary role at Commercial Loan Corporation is to assist clients, Attorneys and Trust Administrators in obtaining mortgages for trusts and estates. Our Trust & Estate Loans help beneficiaries and heirs take advantage of California Proposition 58’s exclusion for property tax reassessment and retain a parents low Proposition 13 tax base on an inherited home. This is accomplished by providing a trust or estate with the cash needed for an equal distribution of assets; one of the California Board of Equalization requirements for Proposition 58.
A few words from Jay Rhein
“I began my career in the real estate business when I was a young lad attending UCLA. I worked in the construction industry (pounding nails) during the summer to pay my way through college.
After I graduated with a degree in economics, my bride and I started our wine distribution business. We represented small family owned wineries. Working hard, we were able to get our wineries into all the major supermarket chains including Safeway, Vons, Albertsons and Ralphs.
For the past six years I have had the privilege of serving as a mortgage banker helping homeowners and business owners achieve their dreams and goals. My proudest moment was when I had the honor of stopping Bank of America from foreclosing the next day on a 104-year-old borrower. I was able to secure a reverse mortgage which will provide enough funds so she can stay in her home for another one hundred and four years.
My goal is to place my customers in the best possible financial position for their future while providing the top customer experience in the industry. Commercial Loan Corporation with its family values gives me the freedom to do this. In fact, the founder insists on it.”
Call 877-464-1066 to Optimize Your Trust or Estate Distribution
Commercial Loan Corporation does more than just provide mortgages to Trusts and Estates. We also optimize trust and estate distributions!
What does that mean? Well, we can significantly increase the funds that are distributed to the beneficiaries of a trust or estate. In fact, on average we increase the funds a Trust or Estate distributes by over $40,000.
How we increase distribution funds is simple. We provide a loan directly to the Trust or Estate enabling a beneficiary to keep a family home and providing an equal share of cash to the other beneficiaries. Our Trust Loan eliminates the need to sell a parents home, avoiding the costs association with fixing up a home for sale, costly realtor expenses and seller related closing costs. This ends up being an incredible savings that all the beneficiaries of the trust or estate are all able to share in. Best of all, one of the beneficiaries is able to keep the family home and utilize California Proposition 58 to preserver a parents low Proposition 13 tax base saving on average $6,200 per year in property taxes.
Allow us to optimize your trust or estate!
If you, a family member or a client might be able to benefit from one of our trust and estate loans, please call us at 877-464-1066. We can provide you with a FREE SAVINGS ESTIMATE!
Non Pro Rata Distribution Loans For Trusts and Estates – Call Commercial Loan Corporation at 877-464-1066
Non Pro Rata Distribution Loans For Trusts and Estates
Commercial Loan Corporation is one of California’s leading providers of loans to trusts and estates. Our specialized mortgage infuses a trust or estate with cash so that a non pro rata distribution can be made. A non pro rata distribution occurs when each heir or beneficiary receives an equal proportion of the entire estate or trust distribution but not of each asset. When a trust or estate does not hold sufficient cash assets, our loan provides the trust or estate with the cash needed to equalize the distribution or payout of the estate. This allows one of the beneficiaries or heirs to keep an inherited home and take advantage of the Proposition 58 tax benefit; which allows the California Proposition 13 protected low tax base from their parent to be transferred to the child who is inheriting the home.
On average our Non Pro Rata Trust Distribution and Probate Estate Distribution Loans save clients over $6,200 per year in property taxes. Our process is quick and easy. In fact we can often times complete a non pro rata loan in as little as 7 business days. Our loan is made directly to the trust.
If you, a family member or a client that you represent requires a California Proposition 58 Non Pro Rate Distribution Loan, please call us at 877-464-1066. Even if you are attempting to distribute and irrevocable trust, we have loan programs that can assist you. We can answer any questions you have on our non pro rate distribution loans and provide you with a free cost benefit analysis to see if one of our trust and estate loans makes sense for you.
As is typical with Autumn Skerritt our Operations Manager; she went above and beyond when it came to meeting the expectations of a client! If fact, the client was so appreciative of Autumn, she sent her a bouquet of flowers and a very thoughtful card to thank her!
Autumn assisted her client in processing a complex trust loan where an old lien needed to be cleared from title before the loan could close. She helped the client make an equal distribution on their trust. This allowed them to preserve their parents property tax base on the inherited home, saving them thousands of dollars each year in property taxes. Autumn stayed in contact with the client throughout the entire trust loan process and did everything she could to help them close as quickly as possible! Her hard word and dedication to her clients needs sets her apart from other people in the industry. Those are just a few of the qualities that makes Autumn such a a pleasure for her clients and coworkers to work with.
Thank you for everything that you do for your clients and our company Autumn!
Please Join Commercial Loan Corporation at the Orange County Bar Association Trust & Estate 2018 Holiday Social
Orange County 2018 Holiday Social
Please join Commercial Loan Corporation at the 2018 Orange County Bar Trust & Estate Holiday Social. The event is being held on December 6th, 2018 at the Ocean Institute in Dana Point. Both Mike Riggs and Tanis Alonso will be attending the event from the Commercial Loan Corporation Trust & Estate Lending Department. They can answer any questions that you may have on our loans to trusts and estates. We are experts on 3rd party financing to trusts and estates to help our clients preserve a parents property tax base on an inherited home.
Third Party Trusts & Estate Loans To Keep A Parents Property Tax Base On An Inherited Home.
If you will not be able to attend the Trust & Estate Holiday Social, but would like more information on our trust loans, estate loans or a loan to a home in probate; please call us at 877-464-1066. We can give you a free estimate on how much you might be able to save by preserving the property tax base on an inherited home. We assist both clients and attorneys with matters regarding California Proposition 58. For additional information on our trust loan programs or to apply for a trust or estate loan online, please visit this trust and estate loan page on our website.
You can register for the Orange County 2018 Holiday Social Here: Register online at www.ocbar.org
California Loans to Trusts, Estates and On Homes Being Inherited From A Parent.
California Loans to Trusts, Estates & Inherited Homes
Commercial Loan Corporation is a California direct lender for real estate and homes in trusts, irrevocable trusts, estates, probate and on homes being inherited from a deceased parent. Trust and Estate lending is our specialty. We offer custom loan programs to meet your specific needs. Our specialized loans provide our clients with the cash needed to allow each beneficiary, heir or sibling to receive an equal portion of the assets from a trust or inheritance. This allows one person to inherit real estate while others receive cash or cash and other assets. Our trust loans are affordable and usually cost far less than the fees associated with selling a property saving money for everyone involved. We are a direct lender and can close your loan in as little as 7 days. This allows beneficiaries and heirs to receive their proceeds much faster than if a home is to be sold.
Often times it is our clients desire to retain a parents low California Proposition 13 Property Tax Base on the home being inherited. Our loan provides the funds necessary for an equal distribution to be made and to accomplish this. On Average we are able to save our clients over $6,000 a year in property tax payments by keeping a parents low property tax base. Most lenders are unwilling to lend to a trust or do not have the knowledge or capability to provide financing to irrevocable trusts, estates, probate or on a property being inherited from a parent. We are a California lender that specializes in loans to trust and loans to estates. Our loans are California Proposition 58 compliant and we can help walk you or your attorney through the process of avoiding the reassessment or an inherited home. We have partnered with a California Property Tax Consultant with over 20 years of experience in the California Property Tax Assessors Office. We can help simplify what is typically a complicated process and help you avoid property tax reassessment on a home being inherited from a parent.
For more information on our trust and estate loan programs or to determine how much you might be able to save in property taxes, please call us at 877-464-1066 or complete this quick online request form located here: Online Trust & Estate Loan Request Form