BanCorp Realty: California Real Estate Property Investor Flipper Program Policy Change

BanCorp Real Estate Group in its ongoing pursuit of easier and faster™ real estate transactions announces major policy shift to Stated Income, 90% LTV, Investor | Property Flipper Loan Program.
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IRVINE, Calif. - July 7, 2014 - PRLog -- Greg Steinaker, CEO of the Irvine Holding Company announced on Monday that its subsidiary, BanCorp Real Estate Group was enforcing a major shift in policy to its widely popular: 90% LTV, Stated Income, Investor | Property Flipper Program. The bridge-loan program which carries no pre-payment penalty has been offered to all real estate professionals on a nationwide basis but that is being revamped according to Mr. Steinaker; “We have had tremendous success with this program and the professionals that have utilized this product have profited greatly, however our original intent when releasing this product through our affiliate lender was to directly benefit our Southern California Realtor base, and we simply are not seeing the results we originally sought.”

Greg Steinaker went on to add: “effective July 7, 2014 BanCorp’s no Income Verification, Property Flipper Program will only be available to real estate investors who wish to engage BanCorp Realty as Realtor | Broker in the pending transaction at hand. If the program does not help us continue to establish our Realtor base in Southern California, and maintain our core of established Realtors, I see no reason to pursue this program, it is not a good long-term strategy for the company if competing real estate agencies have equal access to the same program.” BanCorp initially had launched this program for its Realtors but then expanded it nationally to meet increasing demand.

BanCorp REG is committed to being the most excellent real estate company in Southern California. BanCorp believes that you can’t create progress within a company by staying on a plateau. Superb real estate companies are naturally wired – it is built into their DNA – and to climb to the top they are aggressive and they initiate. The best companies see opportunities and seek them before others do.

To learn more about BanCorp Realty visit:

Greg Steinaker
Source:BanCorp Real Estate Group
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