Insignia co-founder Chris Furie was also interviewed recently for The Real Deal, a New York City-based real estate website.
TheRealDeal.com: “The option for a loan gives overseas buyers the chance to spend much more, according to Chris Furie, a partner at Los Angeles-based Insignia Mortgage, whose nonconforming loans are backed mainly by regional banks. “Most [overseas buyers] don’t think they can get a loan, so they pay cash. But they’d much rather take a loan, even if they have to put down 40 percent.”
Insignia Mortgage is building a national reputation as the go-to specialists in complex, non-traditional mortgages. Specialties include all types of unusual scenarios including no tax return loans for foreign nationals, retires, and self employed real estate investor’s, Insignia also specializes in developer and owner occupied construction loans and interest only Jumbo mortgages. Insignia is one of the top originators in the US by loan size with over $365 million in loans originated just in 2015 and over $2B in total volume since 2012. They have closed $80 million in loans to non-resident foreign nationals, just in the last year. They’ve originated over $330 million in 2016. Recently, they closed a $40 million residential-construction loan in Bel Air.