Mortgage Industry Entrepreneur Launches Commercial Real Estate Direct Lending Firm

By: Commercial Direct Lending
 
INDEPENDENCE, Ohio - July 12, 2022 - PRLog -- Mortgage industry veteran Richard Steinberg today announced the formation of Commercial Direct Lending LLC (CDL), a new private commercial real estate direct lender offering loans from $250,000 to $10 million+.

The new company will be led by Stan Furst and Bob Beller, who come from JB Commercial, LLC, where Furst was a Principal and Co-Founder and where Beller was Senior Managing Director. Both Furst and Beller will serve as Principals at CDL with Mr. Steinberg as Founder and Chairman and Jodi Hall as Chief Operating Officer.

"I am very pleased to have Stan and Bob leading CDL, given their experience in the commercial lending and financial markets, and the relationship-based approach they bring to their field. While competitive products, certainty of execution, and cutting-edge technology will enable us to excel, what differentiates this leadership team is a collaborative approach, anchored by years of experience and proven abilities to deliver," Steinberg said.

CDL is designed to meet customer demand for access to decision makers, responsiveness, faster closings, and the ability to choose among multiple commercial loan products. The idea for CDL emerged from Steinberg's experience at Nationwide Mortgage Bankers (NMB), the fastest growing residential mortgage company in the nation as ranked by Inc. Magazine (https://urldefense.com/v3/__https:/www.prnewswire.com/new...), and which also earned People Magazine's (https://www.greatplacetowork.com/best-workplaces/companie...)  "Great Place to Work" distinction.  With CDL, Steinberg aims to bring NMB's customer-first approach to commercial lending and to leverage NMB's extensive-independent referral network by harvesting existing relationships and diversifying customer access to direct lending solutions.

"We know that listening carefully to our clients is the secret sauce to our success. CDL's nationwide lending platform provides the perfect opportunity to leverage our skill sets and vision of things to come," said Furst.

CDL is a relationship-focused enterprise that provides critical lending solutions for customers who prefer not to work with banks burdened by bureaucratic red tape, layers of approval processes or are ignored by banks seeking larger loan amounts.

"We service entrepreneurs and real estate investors in communities throughout the country. We are committed to providing loan products, and the type of comprehensive, hands-on service that enables all of them to succeed. At the end of the day, their success is our reward," said Beller.

Furst is a 35-year veteran of the private residential and commercial mortgage banking industry, having served as Chairman, President and CEO of New Jersey Mortgage and Investment Corporation (NJMIC), then the oldest and largest independent mortgage bank in the country.

Beller brings over 30 years of legal and compliance and financial services participation to CDL. He has served as principal of start-up mortgage banking company Altivus Financial Services, and as Senior Managing Director of JB Commercial Funding.

The firm will be headquartered in Independence, Ohio with operations in Livingston, New Jersey.
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Tags:Commercial Lending
Industry:Real Estate
Location:Independence - Ohio - United States
Subject:Companies
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