They were great for commercial prop lines and small deals, basically unbeatable on rates terms. But I just checked for a clients large warehouse down here that were handling for the loan, and was thinking of grabbing an extra 200K or so on a line to pay as they go (plenty of cash in biz). But Wells pulled out of FL, Tennessee, Arizona, and some other states for commercial loans. No one had a process as easy, quick, with excellent terms as they did for commercial lines.

Definitely develop a relationship with a local bank for those . . . I have worked with three local community banks for commercial (including one co-owned by my pres) . . . great terms, broker/referral friendly. And maybe some resi business in return!

Did they really? I knew something was up!

They just declined my 500k equity line, 740 fico, 50% LTV

Said it was an "office condo" and wont do it.

Im gonna call my rep and see whats up.

Also, do you have confirmation of this?

Kelcey:

Definitely develop a relationship with a local bank for those . . . I have worked with three local community banks for commercial (including one co-owned by my pres) . . . great terms, broker/referral friendly. And maybe some resi business in return!

Don't do resi, was never big into resi even in the past, I'll leave to you all lol. I know some of the local banks, but being in South FL their extremely tight, I've done a few things with but they didn't do near the loan amounts Wells would or as aggressive terms if it was a small prop purchase. I do have a friend whose family owns a credit union/banking chain out of state so going to see if they would do FL or other clients wherever.

Kyle Hufford:

Also, do you have confirmation of this?

Just their commercial division whom I called yesterday to go over the deal for a line of credit on the prop. They told me but didn't send anything except for a rate sheet, said on the rate sheet it shows the states commercial is not being done in. Says: Product not available in FL/IN/KY/MI/NV/OH/TN

They told me AZ but I don't see it on there, but they also said other states are going to be listed soon.