Mouse Trap

DECEMBER, 2019

by: Stephenie Whittington

As a kid, a popular board game was Mouse Trap, a game that requires the set-up of a marble run contraption. The goals of the game are to avoid the traps that have been laid out and to collect the most cheese.  Any wrong moves could result in getting caught in one of the traps and losing some, or all, of any collected cheese!

 

Mouse Trap is a lot like life with a CMBS loan, as a Borrower

The Borrower originates their loan as the unsuspecting mouse (owner) just trying to earn the most cheese (money). What the Borrower may not know is that there are traps they must avoid by making wise decisions and knowing the game (their loan and accompanying documents).

Having a Borrower Advocate as a Borrower with a CMBS loan allows the Borrower to know where traps are before their loan is even originated and allows the Borrower to avoid any traps during the life of the loan. By working with a Borrower Advocate on the review of loan documents, submission of daily/routine requests, facilitation of loan assumptions, and any other loan requests, a Borrower can rest assured in knowing that their ‘cheese’ is safe!