Subject: PER
GPARENCY Enhances Team with Multi-billion Dollar Underwriter, Scott Forbes
Forbes Will Oversee All Deal Placement to Drive Growth
HOWELL, N.J., April 22, 2024 /PRNewswire/ -- GPARENCY, the nation's only commercial mortgage brokerage with a capped fee structure, today announced the strategic appointment of industry veteran Scott Forbes as Senior Underwriter and Director of Deal Placement. This move follows GPARENCY's origination of over $1 billion in loans during the first quarter of 2024, highlighting a surge in demand for their unique fee model.
A Multi-Billion Dollar Underwriter Joins the GPARENCY Team
Scott Forbes boasts over 14 years of experience as a commercial mortgage underwriter and deal placer, with additional years spent in banking. He has a proven track record of closing billions of dollars in loans, ranging from single-digit millions to a staggering $150 million. Scott's expertise extends beyond deal placement; he basically acted as a co-broker taking on the deals from the origination underwriter and running point on all sides from submission until the closing.
Motivated by Success, Not Fees
"I'm excited to join GPARENCY because their capped fee model aligns perfectly with my own values," says Scott Forbes. "Larger deals might seem daunting, but as everyone knows, with sophisticated borrowers and top-level decision-makers involved from the outset, they often prove easier to navigate. GPARENCY's fixed-fee structure ensures I'm motivated by the success of the deal, not the size of the fee."
Transforming the Commercial Mortgage Landscape
GPARENCY changes the usual way commercial mortgages are brokered by offering three clear and simple fee options:
- Pay a ½ point at closing capped at $100,000, and benefit from our top-tier, full-service brokerage team who will guide your deal from underwriting to close.
- Pay a flat-fee of $11,000 upfront, and benefit from our top-tier, full-service brokerage team who will guide your deal from underwriting to close.
- Pay a flat-fee of $4,500 upfront, and benefit from our top-tier, full-service brokerage team who will see your deal through to the term sheet stage and let you take it from there.
This approach eliminates hidden and uncapped fees and ensures clients know exactly what they'll pay, regardless of deal complexity.
"As deal volume increases significantly, it's crucial for us to enhance our team with top-tier talent who can manage these opportunities effectively," says Ira Zlotowitz, CEO and Founder of GPARENCY. "We are excited to have Scott Forbes join us, an exceptional closer who has successfully handled billions in transactions without relying on commissions. His impressive track record reaffirms that quality professionals thrive under this model, making him an ideal fit for our expanding business."
A Streamlined Approach to Exponential Growth
While Scott's expertise lies in deal placement, his collaborative spirit shines through. He thrives on taking over deals once originated and working closely with clients and banks to secure successful closings, focusing on the process, not the fee. Joining forces with experienced mortgage broker Ami Eller under the leadership of GPARENCY's most senior broker, Michael Wyne, the team is now poised to handle all deal transaction volume regardless of size. This strategic partnership streamlines the process and positions GPARENCY to handle the increasing volume of deals anticipated in the coming months.
About GPARENCY
GPARENCY is the nation's leading commercial mortgage brokerage, offering clients a transparent and cost-effective solution for securing financing. Their capped fee structure ensures clients know exactly what they'll pay, regardless of deal complexity. Bringing billions in deal experience to the table and a focus on client success, GPARENCY is revolutionizing the commercial mortgage landscape.
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SOURCE GPARENCY
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