FAQ
How do you submit loans to ICS for review?
If you are a Loan Broker, you can sign up as an ICS Lending Partner. Once signed up, login to your Loan Dashboard and submit the loan, schedule a loan review call, and begin uploading documents for review. If you are a Borrower, signing up is not required. Simply go to the "Loan Finder" or "Request Loan" link from the main menu or home page and submit your loan request online.
What is ICS?
ICS is a Full-Service Commercial Mortgage Brokerage with the largest lender network (10,000+) in the industry. Through the ICS Funding Platform, we offer more commercial, multifamily, and investment property loan products than any single lender in the country. ICS originated loans are sold, assigned, syndicated, or brokered through our expansive network of capital partners, including hundreds of banks, credit unions, Fannie Mae, Freddie Mac, and FHA lenders, SBA, life companies, CMBS, as well as private bridge and construction lenders. We are your one-stop commercial, multifamily, and investment property lending partner providing the most competitive rates and terms available in today's capital marketplace. ICS is a registered corporation in the United States. ICSloans.com is owned and operated by ICS Partners, Inc. ICS does not provide consumer related products, consumer financial services, and does not provide residential owner-occupied property loans. ICS services real estate investors, Loan Brokers, and business clients only. ICS services and products are intended for commercial real estate professionals, real estate investors, and are not intended for general consumer use.
As a Loan Broker do I have to sign up with ICS to submit loans for funding?
Yes, you should register before submitting loans for review.
What lenders does ICS work with?
With over 10,000 lenders we work with almost every local, regional, and national lender in the country. This includes over 3,500 FDIC banks, and 7,000+ other private and institutional lenders. You can view our Partial Lender List here.
Do Loan Brokers have direct access to all the lenders?
Once a loan is placed with the final funding lender the ICS Lending Partner will join communications with the lender as needed. Loan Products offered by ICS are associated with specific lenders, so when a loan product is selected and a loan request is submitted, we package and present that loan to the associated loan product lender(s). ICS handles all loan placement, arrangement, and lender negotiation for our Lending Partners.
Can ICS Lending Partners user their own business name?
Absolutely. We offer white label web links and marketing materials for Lending Partners with company brands. Lending Partners can also use ICS branded materials and links. You can find your web links by logging into your Loan Dashboard, then visit your Profile page.
How long do Brokers have access to online training?
Access to training and the ICS Funding Platform is available online for as long as you are a registered ICS Lending Partner.
Can you work with ICS as Lending Partner if you are a licensed residential loan officer or realtor?
Absolutely. You can continue to work with your residential mortgage company and work with ICS on commercial and investment property loans. ICS Lending Partners are paid as independent contractors on a 1099 basis. We can pay you as an individual or your company, whether that is an LLC or corporation. We can also pay your mortgage company directly if you prefer.
Can you have your own website to originate loans under your own brand?
Absolutely. However, ICS provides NO support for 3rd party websites and cannot provide any guidance related to your website for legal purposes. If you choose to have your own website, you must ensure you abide by all state-by-state and federal regulations. ICS does not provide support regarding these matters, as we have no ownership or management position in your site. If you use your own website, it is 100% up to you to determine what disclosures are needed. ICS does provide white label web application links and marketing materials you can link and use with your site.
Where do Broker commissions come into play with the client?
Brokers typically discuss a broker loan fee with their client upfront. You are securing financing for the client and can set your fee upfront. Most Brokers charge 1% to secure financing, providing clients with rate and fee options once the loan has been evaluated by ICS and underwritten across multiple lenders. In some cases on small loans the fee may be as high as 2%. ICS charges 0.5% to 1% on most loans which is combined with the points you are charging. In most cases, ICS is able to negotiate our fee to be paid by the funding lender post-closing, meaning our points are not paid by the Borrower. When our fee cannot be paid by the lender in the for of Lender Paid Premium or Yield Spread Premium, our fee is combined with your Loan Broker fee. This is determined once we identify which lender we will be funding the loan through.
Is there a Funding Fee Agreement with the client?
ICS issues a Letter of Interest & Funding Fee Agreement to the Borrower once they are ready to move forward with loan placement, processing, and underwriting. This protects you and ICS to ensure everyone gets paid once financing is arranged. You can find the ICS Funding Fee agreement in the Forms sections of your ICS Loan Dashboard. If you don't get a Funding Fee Agreement signed, that is ok. ICS will issue our own Letter of Interest (Term Sheet) that includes a Funding Fee Agreement protecting you.
If you have an NMLS license or real estate license, do you have to transfer your license to ICS?
No. We are not a residential mortgage company and do not required an NMLS license.
Are commercial property loans regulated under RESPA?
No. Commercial loans are non-consumer, business-related loans.
How long has ICS been in business?
ICS started as a Commercial Real Estate company in 2009. In 2017, ICS launched ICSLoans.com designed to train and help Independent Loan Brokers and ICS Commercial Loan Advisors originate, package, and place commercial, multifamily, and investment property loans with lenders on a nationwide basis.
How do you become an ICS Lending Partner?
You must sign up as an ICS Lending Partner with us online.
Are there any requirements or quotas?
No.
How many loans are originated through ICS monthly?
Over 1B+ in commercial and investment real estate loan applications are originated through ICS each year.
How much do Commercial Mortgage Brokers make?
The average in the U.S. is $150,000 per year. Good Loan Brokers make $360k+ per year. Top producers are in the 7-figure range annually.
What is the largest loan ICS can fund through our lenders?
There is no maximum loan limit. ICS funds loans through the largest lenders and institutions in the country and is partnered with lenders that fund deals in excess of $250MM.
What type of loans does ICS fund?
Commercial, multifamily, and investment properties, including multifamily, office, retail, industrial, 1 to 4-unit rentals, and many more. See more property types here.
What is the smallest loan ICS can fund through our lenders?
$100k is our minimum loan size at ICS.
What are the SIX Core Loan Programs most used to fund loans through the ICS Funding Platform?
- Bridge Loans
- FLEX Perm Loans (Alt-A)
- Permanent Loan
- Fix & Flip / Rehab Loans
- New Construction Loans
- SBA Loans (Bank)
If you have a general question about the Funding Platform, training, or an administrative related question, who should you contact?
Visit your Loan Dashboard by logging in. There you will find answers to all your questions or you can submit a support email. You can also email or call your dedicated Team Lead.
If you have a direct question about the status of a loan you have submitted, what should you do?
You can login to your Loan Dashboard and select the loan on which you are working. In the processing section of the loan, you can check the status of the loan. If you want more information, you should contact your assigned Team Lead assisting you with the loan.
If you have a specific deal related question or scenario and the answer is not covered in training or available via the ICS website, what should you do?
Make sure you have entered the loan request online, then go to the loan detail page and schedule a loan review call. You can select a day and time to speak with an ICS Team Lead to review your loan in detail. You can also simply send us an email through the Contact link on our site.
Does ICS handle general questions and support matters by phone?
No, all support questions should be submitted online via the ICS contact form so they can be assigned to the appropriate person.
If you have a loan scenario, and are unsure if the loan can be funded through ICS, what should you do first?
Login to your Loan Dashboard and use the Loan Finder tool to search programs. You can also enter the loan into the system. You can then schedule a "Loan Review Call" with an ICS Loan Team member once you have submitted the loan online.
What documents are needed to properly package a loan for lender review?
- Rent Roll
- Operating Statement
- Schedule of Real Estate Owned
- Person Financial Statement or Commercial 1003
- Credit Report
- Rehab & Construction loans require a budget and scope of work.
What is a point?
- A point is 1% of the loan amount, referred to as loan origination fees. For example, when a borrower pays two points in origination fees, they are paying 2% of the loan amount. The borrower pays points directly at closing, either from loan proceeds on a refinance, or out-of-pocket on a purchase. In most cases, Loan Brokers charge 1%, sometimes 2% on small deals. For example, if you arrange a $1,000,000 loan and charge 1%, you would earn $10,000 as the Loan Broker.
What is YSP?
YSP is commonly known as yield spread premium. YSP is lender paid compensation some lenders pay based upon the rate.
Do ICS Lending Partners also make YSP in addition to Borrower paid points?
Yes, in some cases. YSP distribution is determined by ICS at the sole discretion of ICS. ICS typically pays ICS Lending Partners 50% of YSP above 1%.
What are the three most important things ICS looks at when evaluating the strength of a Borrower?
Money in the bank, equity, property income.
What happens once a loan is submitted online by an ICS Lending Partner?
Once a loan is submitted online, the Loan Broker can schedule a Loan Review Call to go over the loan with the ICS Loan Team. The Broker should also upload documents available prior to the call if available.
Can a Borrower use seller financing as their down payment to purchase a property?
In most cases, no. A Borrower must have the down payment available. If seller financing is involved, the 1st mortgage lender LTV requirements are still in place. Meaning, the combined LTV of both loans cannot exceed the 1st mortgage lenders max LTV limit.
Can a Borrower use equity in other properties they own to purchase additional properties?
Yes, if they do not exceed the maximum LTV required by the funding lender across collateralized properties.
Does ICS fund loans outside of the United States?
No. We only arrange financing in the United States.
Do you need a Loan Officer license to originate commercial real estate loans?
In most states, no. A real estate brokerage license is required in California. A loan officer license is required in Arizona and Nevada. If you are unlicensed in those states, ICS will team you with a licensed ICS Lending Partner to assist you in closing the loan. 20% of the gross commission goes to the Licensed Broker.
If you do not know the meaning of a term (terminology) or want to learn more about commercial lending, what should you do?
Go to our Commercial Lending Terminology page and/or login to your Loan Dashboard and access your training manual.
Are Lending Partners employees?
No. Lending Partners are independent contractors and do not have to work with ICS exclusively.
Does ICS work with foreign nationals and non-US Citizens?
Yes. Quite common.
If a borrower has not filed taxes for 1 or more years, can we still do the loan?
Yes, but they will not get a bank loan. They will have to go with a non-bank bridge loan or FLEX Perm loan until they have filed taxes.
What fees are charged to borrowers?
Brokers usually charge 1%-2% on most bridge loans, hard money, construction, and fix and flip loans. Brokers typically do not charge more than 1% on conforming permanent loans larger than $500k. Fees vary by loan size and loan type. ICS will always discuss the best fee structure with you for each loan.
Do ICS Lending Partners have access to the ICS Loan Dashboard tools and resources.
Absolutely.
Can Brokers work under their own company name?
Yes. Lending Partners can work under their own company name and use ICS to process, underwrite, and place their loans with lenders.
How many lenders are there in the ICS Lending Platform?
10,000+
What is the best way to learn about Commercial Lending?
Go through the ICS online training resources.
Who is the typical ICS Lending Partner?
Residential real estate agents, commercial realtors, residential loan officers, business consultants, financial planners, salespeople, and other similar fields.
What is the standard maximum LTV on conforming / institutional loans?
65% to 75%, 80% on Fannie Mae and Freddie Mac apartment building loans over 5-units.
What is the standard maximum LTV on hard money / bridge loans?
60% to 70%
What type of properties does ICSLoans.com not work with?
Owner-Occupied Residential Home Loans.
Hard Money loan approvals are based off what primary factors?
Equity & Cash-flow.
Does ICS provide SBA financing through lenders?
Yes.
Why is it beneficial for a borrower to work with a correspondent lender or broker instead of a bank?
Brokers source capital through every lender in the country providing borrowers with more options. Correspondent lenders sell and assign loans to multiple lenders.
How do you change your profile / phone, contact information with ICS?
Login to your Loan Dashboard and from the dropdown menu select Update Profile.
How long does it typically take to close a hard money / bridge loan?
21 to 30-days
How long does it typically take to close a conforming / institutional loan?
45 to 90-days.
What is a non-recourse loan?
Borrower is not personally responsible in the event of default. Property secures the debt.
What is the typical term length of a hard money / bridge loan?
12 to 24-months, sometimes 36-months.
Do hard money loan payments include principal and interest or interest only?
Interest only in most cases.
What does the Primary Market mean?
Loans are brokered or sold in the primary market to banks and lenders.
What does the Secondary Market mean?
Loans are packaged by lenders and banks and sold to investment companies which are then positioned as securities.
How do you calculate a Cap rate?
Net operating income divide by market sale price.
What is Senior Debt?
Long-term loans.
How much is the Loan Processing and Underwriting fee on loans processed and funded by ICS?
$2,500 to $5,000+
What does loan processing and underwriting include?
The following are included.
- Rate quotes
- Pull Borrower Credit
- Title Report
- Deed of Trust
- Tax Report
- Financial document review
- Package loan for lender review
- Submit loan to lender chosen by Lending Partner
- Schedule escrow closing
- Schedule appraisal as needed
- Clear lender funding conditions
In what states does ICS originate loans.
Nationwide, not including Nevada.
Does ICS assist Loan Brokers fund residential home loans?
No.
If a borrower can apply once through a Broker and have their loan viewed by multiple lenders and investors to fund, why would they go to any other bank or loan officer?
There is no reason they would apply with another bank, lender, or loan officer. Loan Brokers can submit loan packages to multiple lenders for review to attain the most competitive rate and terms.
How many people use ICSLoans.com monthly to search for loans?
ICS has over 1,500 registered Independent Brokers and keeps an active roster of 100+ ICS Lending Partners on a national level that are producing.
Multifamily loans refer to properties with how many units?
5+ units
What is a single-tenant building?
A building with one occupying tenant
Give an example of a single-tenant building.
Home Depot.
Should a Loan Broker use a 1003 application or Commercial application?
Either works, but the ICS C-1003 Loan Application is preferred. If the Borrower has a PFS, that works just fine.
What does LOI stand for?
Letter of Interest or Letter of Intent
How long does it take to receive an LOI from a Lender?
Once the final lender is determined by the ICS Loan Processing Team that lender will usually issue a final LOI with more specific terms within 1-5 days of receiving borrower and property financials. In many cases ICS issues an LOI directly.
What is the most common type of commercial lease?
A Triple Net Lease (NNN).
Why do commercial lenders typically charge an upfront deposit when providing financing after issuing an LOI?
To cover due diligence and underwriting costs and keep borrowers from backing out of the loan and going with a different lender during the underwriting process.
Does ICS fund loans directly?
In some cases. The majority of our loans are assigned or brokered to our capital partners.
In most cases, who pays the points (fees) on a loan to the Broker, the lender or borrower?
Borrower.
Is ICS a Bank?
No.
What loan has a higher rate, conforming or hard money?
Hard Money.
To whom do most institutional lenders sell their conforming loans?
The secondary market.
Why do private investors like hard money loans?
High interest rate returns on secured real estate assets.
How does ICS qualify lenders and investors that we fund loans through?
Lenders must provide verification of 5+ closed transactions.
What is the standard cost of a commercial appraisal?
$1,000 to $4,000+. Appraisals are more on properties in excess of $5MM value.
What percentage of a property must a business owner occupy as a commercial tenant to attain SBA financing?
51% or more.
How do borrowers typically complete their Commercial & Multifamily Loan Application?
Over the phone or online. It is highly recommended to complete a loan application over the phone with your client to ensure the loan is entered correctly. You can also send your client your personal short-form loan application which is available via your dedicated online loan application link or via Form Fill PDF application.
How do borrowers typically send their financial and property documents to Brokers?
Secure upload via ICSLoans.com or via email to the Loan Broker directly. Documents can be uploaded securely at ICSLoans.com by the originating Loan Broker or borrower.
Who sees a loan submitted to ICS?
The Loan Broker submitting the loan, the ICS Loan Team, and approved lenders interested in funding the loan.
Is the ICS Commercial Funding Fee agreement exclusive?
Once a borrower signs off on their Funding Fee Agreement or ICS issued LOI, they have agreed to move forward with ICS exclusively or non-exclusively through closing. Have an exclusive agreement is recommended but not required. The Funding Fee Agreement guarantees you and ICS get paid if we arrange financing.
Who do you contact at ICS for general website and administrative related support?
Contact the ICS Support Team from the main Contact link from the main menu.
When purchasing a commercial or multifamily property, what is that standard minimum down payment required?
25% - 30%. Fannie Mae and Freddie Mac provide an 80% LTV on 5+ unit apartment buildings with loan amounts over 1M.
What should you do if you forget your password to access ICSloans.com?
Reset your password at the Login page.
What are 3rd party fees borrowers typically pay directly to the 3rd party prior to closing or at closing?
Appraisal
Inspection
Title & Escrow fees
Phase 1 and Phase 2 (if required)
What are the FIVE primary things an underwriter looks at when evaluating a loan.
- LTV – Equity in the property / down payment
- Property type, condition, and location
- Property & Borrower Income (ability to make mortgage payments)
- Borrower Credit Score and history
- Borrower Cash Reserves in the bank
If a property is not income producing, and/or the total property income and borrower income does not support the mortgage payment, would this be a conforming or non-conforming / hard money loan?
Non-conforming / hard money / bridge.
What is the primary objective of a Commercial Mortgage Broker?
Originating and closing loans.
What type of loan application is usually required for a commercial mortgage loan?
1003 Loan Application or the ICS C-1003 Commercial Mortgage Loan Application.
What does P&S stand for?
Purchase and Sale Agreement.
Do rates change daily?
Yes. Rates attached to treasuries and swaps can change daily. SOFR and Prime based rates are less volatile and change less frequently.
How are rates determined by lenders?
Most lenders base their rate off indexes + margin. Common indexes used by lenders to price loans include SOFR, Libor, Prime Rate, Treasuries, and Swaps.
What is the most efficient way to get in touch with property owners?
While email is important and necessary, it is not the most effective form of prospecting. Good old fashioned phone calls and automated voicemail broadcasts are by far the best ways to connect directly with property owners.
What is the difference between Conforming and Non-Conforming loans?
Conforming loans are those that meet bank-grade underwriting guidelines. ICS funds conforming loans through banks, credit unions, life companies, CMBS, SBA, and agency lenders. Conforming loans offer the lowest rates available. Non-conforming loans are for properties or borrowers that do not qualify for conforming loans, including FLEX loan products, bridge, fix and flip, and private construction loans.
What Is the Secured Overnight Financing Rate (SOFR)?
The Secured Overnight Financing Rate (SOFR) is a benchmark interest rate for dollar-denominated derivatives and loans that replaced the London Interbank Offered Rate (LIBOR).
What are lenders most concerned with when evaluating long-term financing?
Existing lease lengths and terms.
What is the maximum LTV on an SBA loan?
90%
What type of scenario usually ends in loan application failure?
Limited equity.
What does a T12 refer to?
Trailing 12-month property operating history.
Will lenders customize loan terms and prepayment penalties?
Yes.
What type of lender always requires business and personal tax returns?
Bank.
Are CMBS recourse or non-recourse?
Non-recourse.
What is a great website to use to find Hot owner refinance and purchase leads?
Loopnet.com
What important Borrower document confirms cash liquidity?
Bank statements.
Does the tenant pay taxes, insurance, and maintenance on a gross lease?
No.
What type of properties might a NNN lease apply to?
Commercial properties, such as office, retail, industrial. NNN leases do not apply to multifamily or 1 to 4-unit rental properties.
What is a great tool to use to mass call clients?
Slybroadcast.com
What is the fastest way to building a property owner database?
Order property owner researched contacts through ICS.
How long does it take to get a lender Term Sheet once a file is Market Ready?
1 to 5 business days depending upon the lender.
What is the best way to find "good" business?
Research specific properties, find owner contact information, and contact them.
What is used to determine the loan amount on a purchase when evaluating the loan?
The contract purchase price.
What sells clients on ICS and you as a Broker?
More options through more lenders.
What is the minimum DSCR for most permanent multifamily loans?
1.20x to 1.25x
Does ICS charge any upfront fees?
Yes, once a Lender Term Sheet has been mutually agreed upon between the Lender and Borrower.
Do lenders usually require a deposit following a Term Sheet?
Almost always.