Business purpose loans are nontraditional mortgage loans where a borrower uses loan proceeds for a non-consumer purpose. A non-consumer purpose means any loan in which the proceeds are NOT primarily used for personal, family, or household use. There is a common misconception that the primary question in making these loans is whether the property used as collateral is “owner-occupied.” But, the more important question is whether the loan’s purpose is truly a “business purpose,

Some may know that I’ve recently embarked on an exciting new journey south of the border as co-owner of Geraci LLP, alongside my partner, Anthony Geraci. Anthony founded the firm in California in 2007, focused exclusively on legal services for the private lending community. Joining forces with him has given me the opportunity to grow professionally in a vibrant, forward- thinking sector — one that feels increasingly different from the legal environment I’ve known for over two