is...Fruitful
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headed to grey market just like RCTY
all is well, but the kids are working thru serious trauma issues. We should be adopting them in the next one to two months. They were not allowed to watch honeybooboo until we got them.
hi ICTY, missed everyone. Just got out of hibernation. Guess
I'll go back to sleep.
SELL the SHELL!
board marked
SS anyone?
pump up the volume
flat
still here lurking, just took on 3 court ordered foster kids ad have got my hands full
and another one bites the dust
real expensive for a shell, $200k max for a $mil plus in return, shells with a reasonable float are avg 200k, and can be turned into a few mil legally
yup, called throwing in the towel and recognizing it's over and out!
OCFN Our organization is prepared and capable to resolve most financing solutions. Our lending divisions can acts as a consultant, advisor, and investment banker with creative strategies to increase a company’s bottom line or reposition commercial real estate properties to have a positive impact for the owners/buyers.
OCFN Our organization is prepared and capable to resolve most financing solutions. Our lending divisions can acts as a consultant, advisor, and investment banker with creative strategies to increase a company’s bottom line or reposition commercial real estate properties to have a positive impact for the owners/buyers.
OCFN Capital Market Rates
6-Month LIBOR This marker indicates the current chart. 0.446% 0.000%
1-Year LIBOR 0.732% -0.001%
Fed Prime Rate 3.25% 0.00%
Fed Funds 0.25% 0.00%
30-Year Mortgage 3.57% 0.03%
1-Year Treasury 0.14% 0.00%
2-Year Treasury 0.24% 0.00%
5-Year Treasury 0.77% 0.00%
10-Year Treasury 1.84% -0.01%
30-Year Treasury 3.11% 0.00%
OCFN contact us
http://www.omegapublic.com/contact.html
OCFN Headquarters Location
Miami Beach, FL 33139, USA
1000 5th Street, Suite 200
Toll Free: (+1) 855-681-6600
Direct: (+1) 305-704-3294
contact@omegapublic.com
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Shareholder
http://www.omegapublic.com/shareholder.html
OCFN investors relations
http://www.omegapublic.com/investors.html
OCFN services
http://www.omegapublic.com/services.html
OCFN What Banks Consider Risk, We Consider Opportunities!
OCFN Mon, Feb 11, 2013
Omega Commercial Finance Corporation Files 8-K Regarding $100-Million Equity Line From Lambert Private Equity LLC
Omega Commercial Finance Corporation Secures $100-Million Equity Line From Private Equity Firm
OCFN Tue, Jan 29, 2013
Omega Commercial Finance Corporation Acquires VFG Securities Inc., a Broker Dealer With Top Line Revenue of $3-Million
OCFN Sat, Jan 26, 2013
Omega Commercial Finance Corporation Conducts Meetings With Institutional Investment Firms
OCFN Fri, Jan 25, 2013
Omega Commercial Finance Corporation Conducts Meetings With Institutional Investment Firms
OCFN Factoring Businesses
Apparel
Computer Hardware
Computer Software
Consulting
Distribution
Energy-Related
Legal
Manufacturing
Wholesalers to Retails
Service Industry
Telecommunications
Temp Agencies
Food
Import / Export
Industry Fabrications
Medical & Health Care
Textile
Transportation
Agriculture
OCFN Omega Commercial Finance Corporation & Strategic Property Associates Design Underwriting Model
“Omega to Implement This Model for Pipeline of CRE Loan Origination”
FOR IMMEDIATE RELEASE
PRLog (Press Release) - Jan. 10, 2011 - (Miami Beach, Florida) Omega Commercial Finance Corp (OCFN) and Strategic Property Associates have agreed on terms of an underwriting and due diligence model that will be implemented for the pipeline of OCFN’s commercial real estate portfolio. Strategic Property Associates is a proven commercial real estate property underwriting and due diligence organization with an established track record within the industry. A proprietary underwriting model has been designed specifically for Omega’s current pipeline of loans. The estimated fair market value of OCFN’s current commercial real estate pipeline approximates nearly $1.1billion dollars. The back office underwriting and due diligence operations provided by Strategic Property Associates, will encompass: (I.) generation of customized due diligence review for each loan predicated upon information derived from discussion of any relevant issues, inconsistencies, or risks, (II.) determining if appraisal, engineering and environmental report findings are accurately incorporated into the loan underwriting, (III.) conducting site inspection and site due diligence to verify condition of the proposed collateral property and to conduct research to determine market condition and trends that may affect the proposed collateral property, (IV) analyzing the financial presentation to determine if underwritten cash flows are supported by the source documents, and analyze historical revenue and expense trends for unexplained variances, (V.) the desk review of underwriting documentation for reasonableness and comfort against file documents (VI) and analysis of the rent roll and other file documents to identify timing and scope of any potential significant interruptions in property level cash flow. Strategic Property Associates has serviced many well-known lending companies through underwriting and due diligence functions. According to information available on their website, commercial clientele has included, but is not limited to, JP Morgan, Berkadia Commercial Mortgage, GE Capital, and Blackrock. Strategic Property Associates has successfully facilitated underwriting and due diligence in loans totaling $130 billion dollars over the past decade. Jon S. Cummings IV Co Chairman/Founder states, “I am pleased to let our shareholders know that this function of our back office operations is in capable hands with an established organization.” Omega is currently pursuing lending strategies with significant low loan-to-value ratios to create shareholder value and in conjunction with contingency income potential through their equity waterfall component. This provision allows for unconditional corporate participation in the net profits from lending projects. When coupled with the implementation of a strong due diligence model, this will further serve to fortify Omega’s lending position in varied economic cycles.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Omega Commercial Finance Corp.'s ability to control and those actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Omega Commercial Finance Corp. filings with the Securities and Exchange Commission.
Omega Commercial Finance Corp.
Kismet Davis, Investment Relations Department
kdavis@ocfncorp.com
www.ocfncorp.com
Omega Commercial Finance Corporation (OCFN.PK) is a publicly traded diversified commercial real estate finance holding company. The primary focus of the company is the underwriting and originating of whole loans.
OCFN "CRE" Indicative Terms
Loan Amount
$1 million minimum. Selectively, lower loan amounts may be considered.
Loan-to-Value Ratio
Target 70% LTV (75% LTV on a case-by-case basis)
Interest Rate:
Prime Plus (Points ranging from 3 to 15)
Interest Payment Type:
Interests Only (and in some cases Amortization is available)
Loan Term:
Up to 10-Year loan terms available
Equity Waterfall:
Up to 20% of Gross or Net Income inclusive of Net Sales
Origination Fee:
Minimum 2% of Gross Loan Amount
3rd Party Underwriting & Due Diligence Fee:
Minimum $5,000 up to $15,000 Maximum (based on loan size), paid directly to Strategic Properties Associates www.strategicproperty.com
3rd Party Appraisal Fee:
Determined on a case-by-case loan inquiry
Borrowing Entity:
Must be bankruptcy-remote, Special Purpose Entity, Tenants-in-Common ownership not allowed Recourse Loan shall be Non-Recourse, with standard Non-Recourse Carve-Outs Reserves shall be required for capital items such as Replacements, Tenant Improvements and Leasing Commissions
Loan Servicing:
Berkadia Commercial Mortgage Servicing and or assign
OCFN Through our wholly owned lending divisions Omega CRE Group LLC and Omega Factoring LLC, we can originate commercial real estate and asset backed loans for our balance sheet and also act as the advisor when structuring loans. Our commercial real estate loan programs will allow for the acquisitions, refinancing, construction, and developments of both income producing and transitional properties. Our core-lending objective is to achieve advantageous and consistent yields by providing short and medium term loans to borrowers primarily consisting of commercial real estate developers, business owners, and landlord. In the case for small business owners we can offer accounts receivable financing better known as factoring when traditional financing is unavailable.
OCFN Factoring Financing Programs
We have a presence and are recognized in the financing industry as an organization that is more creative in implementing and structuring strategies to achieve success.
Our organization is prepared and capable to resolve most financing solutions. Our lending divisions can acts as a consultant, advisor, and investment banker with creative strategies to increase a company’s bottom line or reposition commercial real estate properties to have a positive impact for the owners/buyers.
OCFN Our lending divisions specialize in loans that are typically hard to facilitate within traditional bank underwriting. We have a presence that is recognized in the financing industry as an organization that is more creative in implementing and constructing strategies to achieve success. Our lending divisions can act as a consultant, advisor, or investment banker with creative strategies to have a positive impact for the owners/buyers.
Our lending divisions specialize in commercial real estate financing and factoring transactions that are typically hard to place with traditional banks.
OCFN Regardless of the type of Loan, OCFN’s originating focus will always include the following goals and considerations:
Earn rates of return that exceed the commensurate level of risk associated with each Loan and financing program;
Independently assess the value, volatility, and adequacy of the collateral for each Loan;
Submit loans that are appropriately collateralized;
Assess the ease with which Omega can repossess and dispose of the collateral for each Loan; and
Ensure that each Loan has the proper legal documentation including but not limited to flood insurance , fire insurance, key-man insurance, and surety bonds
Evaluation, appraisals & feasibility reports are required for each Loan's final approval and will be completed by an additional outside 3rd Party organization. Title Commitments Policies will be in the name of the Partnership and will be required prior to Loan approval of all Loans
Omega will make Loans up to 75% of the fair market value or acquisition cost whichever is the lesser of the asset’s value.
Minimum Debt Coverage Ratio of 1.1x and can be less if covered by reserves
The fair market value of the asset(s) is determined by a certified MAI appraisal and evaluation firm selected by Omega
The principals of Omega shall determine what portion of Omega’s investment shall be allocated to each type of Loan transaction
The Loans may be originated or purchased using leverage (i.e., borrowed funds), a co-investment with other large institutions, and or syndication of whole loans that are available to Omega, thus increasing both net returns as well as risk
OCFN Omega Commercial Finance Corp. (OTCQB:OCFN) is a diversified publicly traded commercial real estate-specialty finance holding company. The core business objective of these subsidiary divisions, Omega CRE Group LLC and Omega Factoring LLC, is to achieve advantageous and consistent yields by providing short and medium term loans primarily to qualified borrowers; when traditional financing is unavailable.
OCFN By working with Omega Factoring LLC your cash flow problems can be solved. This will give your company both the time and money to focus on critical success factors such as operations, sales, and growth and is one of the oldest methods of providing working capital to businesses. Dating back 4,000 years, factoring has long been used as a feasible and efficient way for businesses to obtain cash flow in order to cover expenses while experiencing growth. This is a chance to obtain cash without providing personal collateral or increasing any interest expense. Factoring is not a loan and does not "muddy up" your balance sheet nor do you accrue interest or penalties. Instead it contains a factoring fee which is clear and objective; it is based on the size of the invoice, the length of time it takes to collect the payment, and the creditworthiness of your customers. Factoring is an aiding program allowing for opportunity to build your credit. With adequate cash flow you can use money from factoring to clean up your debts as well as pay overhead, salaries, and invoices. This will improve your credit history and make it easier to obtain credit from vendors and other financial institutions. When you partner with Omega Factoring LLC you will be able to maintain a balanced and healthy cash flow environment while building credit at the same time. Because your invoices can now be managed by our professional collections service department, your customers will view your company as a healthy vendor of high consequence and stability.
Transaction Size: The factoring of receivable invoices for credit facilities can start at $10,000 (based on outstanding accounts receivable invoices).
Criteria: Most companies qualifying for our invoice purchasing services are B2Bs (business-to-business) in manufacturing, wholesale, distribution and/or services that are generating commercial accounts receivable invoices.
OCFN OCFN shall provide financing that is secured by a senior mortgage on the underlying asset through our wholly owned subsidiary CCRE Capital LLC. Our commercial real estate loan (“CRE”) inquiries can range from a minimum of $1 million dollars up to $500 million dollars, and are typically for a term of up to 10 years. The CRE lending programs include interest only rates or accrual and amortization schedules ranging from variable interest rates to full amortization. Our financing can be used by owner/operators of real estate (i) to complete new acquisitions or developments; (ii) to recapitalize existing assets; (iii) to repurchase existing debt from current lenders; (iv) to acquire existing performing/non-performing mortgages; (v) to acquire certain equity interests of limited partners in existing partnerships; (vi) to complete construction on commercial projects which are positioned to produce income within a reasonable period of time; and (vii) to fund plans of reorganization or debtor in possession loans in the context of bankruptcy filings.
OCFN Services
OCFN shall provide financing that is secured by a senior mortgage on the underlying asset through our wholly owned subsidiary Omega CRE Group LLC. Our commercial real estate loan (“CRE”) inquiries can range from a minimum of $1 million dollars up to $500 million dollars, and are typically for a term of up to 10 years. The CRE lending programs include interest only rates or accrual and amortization schedules ranging from variable interest rates to full amortization. Our financing can be used by owner/operators of real estate (i) to complete new acquisitions or developments; (ii) to recapitalize existing assets; (iii) to repurchase existing debt from current lenders; (iv) to acquire existing performing/non-performing mortgages; (v) to acquire certain equity interests of limited partners in existing partnerships; (vi) to complete construction on commercial projects which are positioned to produce income within a reasonable period of time; and (vii) to fund plans of reorganization or debtor in possession loans in the context of bankruptcy filings.