Anyone know a good broker with expertise in getting a refinance done in a small co-op building? (less than 10 units)

Building refinance or share loan refinance?

For a building refinance, NCB is the main game in town and the only game if you're looking to go out longer than 7 years. I have the names of other banks that will lend to small buildings somewhere. I can dig them up if needed.

For share loans, you probably don't need a broker unless there's something unusual about the building. All of the big banks (Citi, Chase, BoA, Wells) have loaned within my < 10 unit building within the past two years.

Caveat: we are an easy building, though -- no sponsor, no sublets, no one in arrears, in relatively good repair, good reserves.

for your own personal mortgage why not go direct instea of a broker?

apart from the ridiculous amount of time to close the loan we went with citibank last time for our mortgage in a small 8 unit co-op

This is the name of the guy we dealt with.

Zain Siddiqi | Loan Officer | NMLS ID 625146 | Mortgage Banking | Chase | 530 5th Avenue 8th Floor NYC, NY 10016 | Office: 212-837-3614 |Fax: 866-278-9297 | zain.x.siddiqi@chase.com

Good morning littlelotte,

I'd recommend checking with the Lender who holds the underlying mortgage for your Cooperative.

lad mentions NCB (National Cooperative Bank): they are excellent, but I'm not sure if they are interested in new originations at this time.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528