Whether in aggregate, or down to the individual property level, commercial mortgage information is among the hardest to compile for CRE teams.
It’s often a complicated process to fill your internal database with the competitive insights and timely data needed to make confident business decisions.
How are teams in the industry modernizing their processes of aggregating commercial mortgage information?
Using Reonomy, commercial real estate teams are finding clarity around mortgage information—across full markets and portfolios.
Commercial Mortgage Information
Easy access to mortgage information lets brokers and originators build very informed, relevant, and overall powerful pitches for individual prospect property owners.
In fact, accessible data, in general, makes property debt research a much more efficient process.
In many cases, the biggest issue is simply knowing how to find that data.
To access the right data, you need to have access to the right resources. With that, we’ll be looking at how you can use Reonomy and other on and offline tools to find mortgage information on commercial properties.
How to Find Mortgage Information on a Property
Consider this… Beth is a debt broker in Austin, Texas. She’s primarily looking for refinancing opportunities of multi-family properties within the 78745 zip code in Austin.
In the past, to research the ownership and debt history of a property, Beth would likely have to visit the Travis County Clerk’s office to inquire about the property and view its public records.
Even if Beth went to the county clerk already knowing the name of her prospect owner, the fact is, it would still take quite a bit of time just to gather insights on that one property.
Today, with tools like Reonomy and online public property searches, her process of property debt research would look much, much different.
With Reonomy, for example, Beth can now identify multi-family refinance opportunities from scratch, access the current and past mortgages on those properties, see full lender portfolios, and access property owner contact information.
Reonomy Property Debt Research
To find mortgage information on a property using Reonomy, you can start by identifying the properties that fit within your target market and asset class.
This can be done by running a property search.
Property Search by Location
To identify target properties by location, visit the Location tab of the Reonomy search platform.
In the tab, you can search the entire country by state, city, county, zip code, street name, or by an exact street address. Above, you can see a filtered location-based search within the 78745 zip code in Austin, TX.
Property Search by Asset Type
To find properties based on their property type, you can use the Asset Type tab. You can select from a bevy of different asset types, based on your specialization.
In keeping Beth in mind, below, you’ll see a filtered search for “all multi-family” properties.
The filtered search you see also includes the aforementioned zip code. To this point, there 1,366 results for multi-family properties within the 78745 zip code.
Once you’ve added an asset type, you can also use Reonomy’s Building and Lot filters to add further physical distinctions to your search, like building size in square footage, acres, or perhaps in Beth’s case, number of units.
You can also add filters for the year a property was built, if it was renovated, and its zoning classification.
Property Search by Debt Characteristics
Third, and perhaps most importantly, you can search for properties based on their current mortgage and mortgage history.
This is a quick way for you to either eliminate properties with certain characteristics or find properties that only do have certain characteristics.
You can search for properties that do or do not have mortgages that originated in a specific time frame.
You can eliminate properties that have a recent mortgage origination, or search for properties that have an origination from 5, 7, or 10 years prior.
You can also search for properties that have a mortgage of a specific amount, maturity date, or lender.
Once you’ve identified the properties that fit the location, asset type, and general debt characteristics you’re looking for, you can dive even further into those properties to analyze the ownership and lender portfolios sitting behind them.
If you enter the profile page of a property, you can visit the Debt and Ownership tabs to view the owner and lender portfolios affiliated with that property, as well as the details of the property’s debt history.
In the Debt tab, you can see the origination and maturity dates, mortgage amount, terms, lender, and more.
This information can be found on the most recent and past mortgages of the property.
Above, you’ll see that the most recent lender for this property is Affiliated Bank. Let’s bring our example, Beth, back into the equation.
Let’s now say that Beth would like to view the entire lender portfolio of Affiliated Bank. She can do so by running a property search by lender.
In the Debt tab of Reonomy’s search platform, there is a search bar for Most recent lender, where Beth can copy and paste “Affiliated Bk” (or any other lender name) into the search bar.
Furthermore, if Beth would like to specifically see multi-family properties in the 78745 that have mortgages with Affiliated Bk, she can do that as well by keeping her location and asset type filters intact.
Beth can also dive into the portfolios of the owners behind her properties of interest.
By visiting the Ownership tab of any single profile, you’ll be able to see the reported owning entity of the property at-hand.
From there, just as you would do with a lender portfolio search, you can take the owner name, copy it, then run a search by owner.
By diving into ownership portfolios, you can see how many properties one owner has under mortgage with a single lender, or if they have multiple lenders across multiple properties.
In short, Beth can search from scratch, identify properties of interest based on their physical and financial characteristics, then see the full lender and ownership portfolios of any individual property.
With that, she can get a better understanding of property owners and the lenders they work with, building more refined, more specific talking points when reaching out to those owners directly.
Instead of generally pitching a refinance opportunity, Beth can now go to a property owner and say something like:
“I see that the mortgages on your 5-unit property on Armadillo Rd and your 6-unit property on 1st St are with separate lenders. I can not only consolidate those loans, but can offer better rates than what [insert bank name] typically offers.”
Searching through ownership and lender portfolios also allows you to identify potential new opportunities with new owners or lenders.
Without the use of—or in tandem with—Reonomy, you can also take advantage of public property records to find mortgage information on a property.
Public Mortgage Records Search
Almost any public property records website that has a search portal will let you search for properties based on their address, owner name, or by specific document types.
ACRIS typically serves as the most prominent example of this. ACRIS is New York City’s online database of public property documents and records. You can use the site to search for properties and their affiliated documents.
To find mortgage information on a property using ACRIS, simply run a search “By Document Type.” Here, you can search for properties based on a document class,
To find mortgage information on a property using ACRIS, you can enter the Search Property Records page of their site. From there, you can choose to search by document type.
From there, you can select “Mortgages & Instruments” in the document class section, and then select from a number of different mortgage document types.
Many other public records websites around the country let you search by address or by owner name. Not many of those sites make public mortgage records available online, however.
To access public mortgage records at that point, you can utilize a website like NETR Online to search public records. The other option is to physically go down to the county clerk’s office and gather information in person.
Regardless of how you find and access mortgage information on a property, what you can actually do with that information is the most important part of the equation.
Brokers and originators can take that information and turn it into meaningful business relationships.
How to Turn Mortgage Information into Revenue
Having access to the right commercial property debt information can help you save time while generating even more revenue.
From prospecting, to research, to close, in-depth data is the fuel that drives faster connections with prospects.
Aside from locating the information, it’s also important to put it to effective use. Mortgage information can help you generate high-value mortgage leads, connect with property owners, search for a lien on a property, and identify properties that may be in distress.
Generate Commercial Mortgage Leads
A very large revenue-driver that comes from having access to mortgage information is the ability to consistently bring in commercial mortgage and refinance leads.
One way to identify leads is to run a property search on Reonomy (as mentioned above).
To brings leads to you via inbound strategies, you can also use the information you’ve accessed on Reonomy to build hyper-targeted marketing campaigns. This will enable you to create long-term, trustworthy sources of lead generation.
Optimized websites and content are a gigantic source of highly engaged, high-value leads.
You can also roll out email, direct mail, and other marketing strategies to target property owners on a granular level.
By reaching out with information you’ve learned about owners and their market, you can more quickly start a meaningful conversation with them and provide them with immediate value.
Connect With Property Owners
Whether it is through marketing, directly by phone, or something else, having relevant and detailed mortgage information is ultimately what allows you to cut through the clutter of inboxes and get in touch with property owners.
This is perhaps the greatest benefit of being able to find mortgage information on a property.
By utilizing information that is specific to owners, their properties, and their lenders, you’ll be able to bolster your expertise of the market and show your prospects how in-tune you are with their needs.
In short, commercial mortgage information helps you better generate leads and more quickly reach and impress property owners—both very obvious ways to generate more revenue at a brokerage or entity of any kind.
Find Distressed Properties
Specific property mortgage data points can also identify properties that are likely in distress.
To identify a distressed commercial property, you can look at the mortgage amount on a property as it relates to the surrounding market and rent prices.
From this, you can gain insights into whether a property is creating a negative cash flow, thus putting the owner in financial distress.
In any setting, having access to the right data is a game-changer. For brokers and originators, finding mortgage information on a property could be the difference in making the owner of that property a long-time business partner.
With Reonomy and the other aforementioned on and offline resources, your process of revenue generation can become quicker and more effective.