Eastern Union to cap borrower fees at $250,000

Eastern Union Funding will cap its fees at $250,000 per transaction. In addition, Eastern Union has entered into agreements with 15 top-tier Wall St. commercial mortgage-backed securities (CMBS) lenders who will review all pending deals in a streamlined time frame. The firms include Arbor Commercial Mortgage, CIBC World Markets, Morgan Stanley, and The Royal Bank of Scotland (RBS), among others. The company is poised to add to that number, as it is conducting business with the 25 dominant CMBS lenders on Wall St. These cooperative alliances allow for greater transparency and best execution for borrowers, according to Ira Zlotowitz, president and founder of Eastern Union Funding. "We have a deep understanding for the requirements of the CMBS market," Zlotowitz said. "With the changing market landscape, we knew it was the right time for us to highlight our market leading position; by working with large Wall St. institutions, along with capping our fees; it is a win-win for lenders and borrowers alike. As a result, we anticipate closing more than $10 billion in CMBS deals over the next 18 months, if not sooner." "Eastern Union is an innovative and efficient partner," said James Baranello, Jr., managing director, CIBC World Markets. "Their deep understanding of what we want to be presented is unmatched. We look forward to an expanded partnership with Ira and his team." In order to gain further adherence in the CMBS arena, Eastern Union Funding has bolstered its database which provides customized details on every existing securitized loan in America. In addition, the firm has expanded its in-house lead generation and research team, adding 20 professionals solely focused on obtaining information concerning CMBS loans and borrowers. The company has a patent-pending platform through its proprietary technology Loan Tracker, which will seamlessly deliver deals to Wall St. lenders. "We know we have created an edge with our staff and financing partners, coupled with our leading technology and new capped-fee structure. We are utilizing these advantages to gain traction in this important market," added Zlotowitz. "Our methods are proving to be successful as we have uncovered greater knowledge regarding the CMBS market." Eastern Union Funding has been experiencing tremendous growth, having closed 234 deals in the first four months of 2014. Its continued investment in growing core areas of the business shows. In the last 12 months, the Company closed deals with over 70 lenders, and that number is expected to grow considerably as additional Wall Street CMBS firms join this strategic alliance. Zlotowitz reiterates that "capping fees at $250,000 will help foster efficiency in the marketplace, as this is a remarkable game-changer. At this number, the broker has the ability to earn enough money to handle the expanded workload; this is a fair number." The Company will also continue to emphasize its loyalty to its core customer base, those with financing needs in the $10 million and under range.