The sister and brother team came together in 2012 to form CHM after both having worked in the mortgage business for years, but never together, to provide private money construction, rehab and bridge loans for residential and commercial real estate borrowers. "In the aftermath of the credit crunch, banks still don't have much appetite for these types of loans," said Sweet. "We felt the time was right to take our private lending business to the next level and start our own investment fund. The timing for us is perfect to fill a lending void in an area that we love and in which we have lived and worked for many years."
CHM engaged Fairway to help them make sure they structured their fund in a way that met the needs of their investors. "Fairway helped us clearly understand the economics of the fund from both our perspective as manager and also how investors will look at it," said Sweet. "Their experience, guidance and support in the process was invaluable and we are extremely pleased with the result we are bringing to our marketplace."
CHM has also engaged Fairway to handle the ongoing back-end administration for the Fund's activities. "We really want to focus on origination and asset management, which is what we do best," said Sweet. "Engaging Fairway allows us to do that and at the same time gives us confidence that we have the expertise needed to administer and track all the Fund's investments effectively, and we can pass that confidence through to our investors."
As longtime residents of the Carolinas, Sweet and Fairman believe that private lending is a local business. "The most successful private lenders focus on being the best they can in their own backyard," said Sweet. "Our focus is to be the best private lender in our own backyard as we believe this will add value to our borrowers, beyond being just a source of money, and to our investors as well."
About Fairway America
Read the full story at http://www.prweb.com/releases/2014/07/prweb12024188.htm
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