The Purpose of this Foreclosure and Credit Reporting Policy is to clarify when Sharestates, Inc., and its servicer, Investors Loan Servicing, or sub-servicer will report foreclosures on Loans serviced by it. Defined Terms not defined herein, shall have the meaning ascribed to them in the relevant Loan Documents.

Investors Loan Servicing will report the foreclosure of properties on the Guarantors’ credit report upon referral to foreclosure. Guarantors are responsible for underlying loans and are the credit support the loans are underwritten to. In the event a Guarantor does not fulfill the obligations of the Borrower and Sharestates has to file for foreclosure, Investors Loan Servicing will report loans in the foreclosure process on the Guarantors’ credit report.

Servicing FAQ

Loss Mitigation

• Sharestates provides business purpose loans and most of the loans should be supported by an underlying payment stream, however, sometimes circumstances may result in late or missed mortgage payments, which could decrease your credit score and your ability to finance future projects or properties.
• If your payments have been delayed or delinquent we strongly recommend you contact the Asset Management team at sls@investorsloanservicing.com, to discuss any loss mitigation options available to you. If you are not proactive about loss mitigation we will move to foreclosure after providing the required regulatory and legal notices. We will also report relevant delinquencies to the appropriate credit bureaus as detailed above.

Reporting Delinquencies & Defaults to Credit Bureaus

• Mortgage payments are due on the 1st of each month or the date otherwise agreed in your loan documents. After your due date, we give you a 10-day grace period after which late fees will begin to accrue.
• We will report late payments by the entity and foreclosures (on guarantors’ credit) to the credit bureaus as needed and legally permissible.
• If we reported your payment as late, but you have evidence of payment before the end of the month it was due, please mail us a copy of that information along with a written explanation. When we get your information, we’ll investigate further. You also have the right to ask us to provide documentation that verifies we made no error in servicing your loan.
• Send your requests and supporting information to: sls@investorloanservicing.com.

A borrower (aka “Sponsor”) can be a real estate developer, a real estate rehabilitator, or any other property owner looking for funding. To get a project financed, the developer must be an entity, not a physical person. Sharestates works exclusively with experienced borrowers, who can provide a strong track record. Sharestates runs each borrower’s background and credit for approval. All new projects provided by a returning developer will still be reviewed individually. No projects will be reviewed if developers FICO is less than 620.

There are two ways to submit a real estate project for consideration.

Following application submission, allow one to two business days to receive an approval on your project as well as receive the necessary next steps to secure a closing date. Submit your application by selecting one of the below options:

1. Submit your real estate loan application using the Sharestates online borrower portal (https://www.sharestates.com/get-financing)
2. Create an account on sharestates.com and submit your loan application directly via your Sharestates account

Once you have an approval on your loan application, you will receive a term sheet from one of our representatives. As each project varies, the steps to closing will then be determined by our senior underwriting and processing teams based on the complexity of your individual deal.

For any questions regarding the lending process, please contact hello@sharestates.com or call (212) 201-0750.

For debt loans Sharestates charges 8-14% interest rate. Additionally Sharestates charges 1%-5% origination fee to each issued loan.

Sharestates finances all asset classes (residential, multi-family, and commercial). We are ready to offer loan programs for hard money, mid term (portfolio and individual), long term, and bridge loans, also senior debt, mezzanine and equity financing.

To learn more about loan programs offered, visit sharestates.com. To speak to a Sharestates representative about a specific loan scenario, contact us at hello@sharestates.com or call (212) 201-0750.

Our loan amounts range from $100,000 to $5,000,000.  On certain property types, we can lend up to 85% LTV/LTC and up to 100% of the construction budget. To submit a loan application for approval, please visit Sharestates.com. To speak to a Sharestates representative regarding a real estate loan, please contact hello@sharestates.com or call (212) 201-0750.

The typical maturity period with Sharestates is 12 months. On a case-by-case basis, two 6 month extensions may be granted.

All loans are interest only balloons.

On average, funding can take 15-30 days. Closings can be as fast as 5-7 days, depending on the complexity of the deal. To speak to a Sharestates representative regarding a real estate loan, please contact hello@sharestates.com or call (212) 201-0750.

The Sharestates crowdfunding process is very similar to any other funding option via Sharestates. This is because Sharestates will pre-fund a loan, only opening it to the crowdfunding platform after closing. For all questions regarding funding sources, please contact Sharestates directly.

There are two ways to submit a real estate project for consideration. Following application submission, allow one to two business days to receive an approval on your project as well as receive the necessary next steps to secure a closing date. Submit your application by selecting one of the below options:

1. Submit your real estate loan application using the Sharestates online borrower portal (https://www.sharestates.com/get-financing)
2. Create an account on sharestates.com and submit your loan application directly via your Sharestates account

Once you have an approval on your loan application, you will receive a term sheet from one of our representatives. As each project varies, the steps to closing will then be determined by our senior underwriting and processing teams based on the complexity of your individual deal.

For any questions regarding the lending process, please contact hello@sharestates.com or call (212) 201-0750.

We are ready to offer the below program types to qualified real estate borrowers:

• Hard money
• Senior debt financing
• Mezzanine financing
• Equity financing
• Bridge loans
• Mid term loans
• Long term loans
• Jumbo bridge loans
• Portfolio mid term loans

To learn more about these offerings, visit our how it works/borrowers page. Sharestates also offers extensive broker programs as well as a correspondent lending program, Shareline, for small lenders. To speak to a representative regarding any of the unique Sharestates lending solutions, contact us at hello@sharestates.com or cal (212) 201-0750.