Portfolio Loans

Portfolio Loans | SouthStar Bank

What is a portfolio loan?

A SouthStar Bank portfolio loan is originated and funded right here at our institution, and never moves into the secondary mortgage market. It’s called a “portfolio loan” because it’s always going to stay in our portfolio. That means we can rely on our relationship with the customer to determine loan eligibility even if they don’t meet the typical mortgage profile.

For example, meet Annie. Annie is a freelance marketing consultant with variable income. Her credit score has taken a few hits but we’ve known Annie for years. She’s been a customer in good standing and a part of our community for a long time. Her business is picking up, and she’s starting to get back on her feet. Purchasing a home could improve her stability, her credit, and her children’s lives. She may even want to purchase a four-plex, so she can start earning some rental income on the other three units.

Annie comes to SouthStar Bank and meets with one of our loan officers to discuss the Star Advantage Loan. We look at her plans, her property, and total financial picture and make a decision about whether she’ll be a good risk. If we agree the loan makes good business sense, we move forward, even though she would not have been eligible for a loan through Fannie Mae and Freddie Mac.

Are portfolio loans a good idea?

A portfolio loan generally isn’t riskier for the consumer than any other kind of mortgage. It is riskier for the banker, which means it can come with higher interest rates and fees. Whether they are a good idea for you depends on your unique situation and goals.

Would you be able to qualify for a conventional mortgage with just a little more work and time? Do you have aspirations towards becoming a landlord or real estate investor? Are you trying to purchase a non-traditional property or unique property?

Of course you should carefully consider the total picture before you make your final decision. Our loan officers are happy to discuss the risks and benefits of a portfolio loan in your specific case.

How do you qualify for a portfolio loan?

Applying for a portfolio loan isn’t just about forms and numbers. It’s about your story. Be prepared to sit down and discuss yours. Tell us what your assets are, what you hope to accomplish, what’s behind, and what’s ahead. Be thorough and be transparent, even if you think parts of your situation might create an issue. We might be willing to work with you anyway, or we might be able to walk you through specific steps you can take to address areas of concern.

What are some common uses for a portfolio loan?

Many of our customers have used portfolio loans to:

Purchase a residence after a bankruptcy, short sale, foreclosure, or divorce.
Purchase a residence while self-employed.
Purchase a residence as a foreign national.
Purchase a rental property or a fix-and-flip property.

If any of these scenarios matches your situation, reach out to a SouthStar bank location near you to meet with one of our loan officers today.

Employee Spotlight- Mariela Tinajero

Mariela Tinajero, Assistant Electronic Funds Manager | SouthStar Bank Gonzales Annex

Mariela Tinajero has been a part of the SouthStar Bank family for the last nine years. She works out of the Gonzales Annex as an Assistant Electronic Funds Manager. In her role, Mariela is responsible for managing all electronic transactions, including wires and ACH payments. Her always-ready-to-help attitude has earned her great respect around the bank. One of Mariela’s most significant career achievements was being awarded the Ride for the Brand award, which recognizes the individuals who have gone above and beyond to uphold the SouthStar Bank brand and standards.

In her free time away from the bank, Mariela loves going on motorcycle rides with her husband, working out, and traveling with family. Something that might be surprising about Mariela is that one of her bucket list items is to travel to New York City.

FEATURED PROJECT – Cockrum Commercial

Cockrum Commercial is based in Georgetown, TX. The family-owned and operated business grew from longtime roots in the Georgetown community. After many years of building custom homes in Williamson County, Bradley Cockrum, along with his family and staff, decided to expand into the commercial construction business in 2016.

As a Central Texas Commercial Construction firm, Cockrum Commercial offers “from the ground up” Commercial Construction services. The team of experienced construction professionals works closely with their clients throughout the entire process, from the build to leasing and purchasing. As a general contractor offering turn-key development services, the team is committed to providing the highest quality of work to every commercial project and continuing the reputation of Cockrum craftmanship that has been built through decades.

As a lifelong residents of Georgetown, Texas, the Cockrums recognized a need in the community for small to medium businesses to have ownership options in a first-class commercial development. After much thought, research and collaboration with partners, the vision for Sedro Crossing Business Park began. The 19-acre master-planned business park borders the widely popular Sun City community and offers high visibility opportunities with a uniquely aesthetic appeal.

Sedro Crossing Business Park broke ground in March of 2019. Since then, the development has continued to grow. Alexis Michael and the commercial lending team at SouthStar Bank worked directly with Bradley to structure a commercial loan that met the needs of his ongoing commercial development, as well as SBA and conventional loans for local businesses occupying the space.

While COVID-19 halted operations for many businesses, Cockrum Commercial forged ahead. Bradley secured a PPP loan through SouthStar Bank to keep jobs available to his longtime team and completed the first phase of Sedro Crossing in 2022. Already over half-occupied, Cockrum celebrated with a ribbon cutting on June 23, 2022. The team looks forward to further expansion.

CONTACTS
Cockrum Commercial
4879 Williams Drive, Ste. #105 | Georgetown, TX 78633
info@cockrumcommercial.com
512.868.1011

SouthStar Bank
Alexis Michael, Senior Vice President & SBA Director | NMLS# 790782
p: 512.986.7654 | m: 512.806.4250
alexis.michael@southstarbank.com

PREVIEW FOR SSB SITE:
Cockrum Commercial offers a full line of commercial construction services. Through a commercial construction loan, they were able to continue development at Sedro Crossing Business Park in Georgetown, TX. Learn more>

SOCIAL POST
Our #SmallBiz clients have expanded into commercial development. Learn more about how the Cockrum family’s decades of quality craftsmanship experience has led to Georgetown’s newest top-tier development.

Cockrum Commercial offers a full line of commercial construction services. Through a commercial construction loan, they were able to continue development at @Sedro Crossing Business Park by Cockrum Construction in #GeorgetownTX. #commercialrealestate #bankingtexasstyle

Congratulations Blake Feste! New Senior Credit Officer

Congratulations to Blake Feste, recently promoted to Senior Credit Officer! Blake has been a part of the SouthStar Bank team since 2017 and was previously an employee of former Lone Star Bank from 2013 to 2015.

Blake has excelled in his role at the bank to uphold the overall quality of the Bank’s credit extension. He will continue to provide support and direction in loan policies and procedures, working with Credit Analysts and Regional Credit Managers to promote loan growth while balancing risk controls for the bank.

Outside of work, Blake held a position as Co-Chair of Programs on the board for the Young Men’s Business League of Austin for 5 years. Blake and YMBL worked to raise money each year to send low-income youth to summer camp, assisting approximately 1,000 kids each year. As of 2022, he is an Alumni Member but continues to be heavily involved in the efforts of the non-profit organization.

Blake and his wife, Ellen, live in Northwest Austin with their 3-year-old son, Liam. They enjoy traveling and cheering on his alma mater, the TCU Horned Frogs, during football season.

Member FDIC | Equal Housing Lender | NMLS# 683300

Employee Spotlight- Marci Clanin

Marci Clanin, Portfolio Manager | SouthStar Bank Georgetown

A member of the SouthStar Bank Georgetown team, Marci Clanin is a Portfolio Manager for the lending department. An alumna of The University of Texas at Austin, Marci joined SouthStar Bank earlier this year. Since she is still new to the industry, Marci’s favorite aspects of her job are the constant learning and fast-paced environment.

When Marci is not at work, she manages her other full-time job as a mom to her children. In her spare time, she enjoys reading and catching up on her favorite reality tv shows. Two surprising items on Marci’s bucket list are cage diving with sharks and owning a full-sized pig that she would name Chet.

Marci Clanin NMLS# 2068290

Congratulations Jesica Garza! New Branch Executive

Congratulations to Jesica Garza on her promotion to Branch Executive!

Jesica Garza has been promoted to Branch Executive of the SouthStar Bank Georgetown Branch. Jesica has been with SouthStar Bank for three years as a portfolio lender, specializing in land and construction financing. She has multiple years of prior experience in mortgage lending and has also taught mortgage and real estate investing courses to continuing education students as a Certified Mortgage Planning Specialist.

A local to Georgetown, Jesica proudly graduated as a Georgetown Eagle in 2004 and continued on to Texas State University to pursue her degree in International Relations. As Branch Executive, Jesica is looking forward to broadening and sustaining the branch’s relationships with the community.

Active in the community, Garza previously served on the Austin Board of the National Association of Professional Mortgage Women. In addition, she stays involved with her husband’s non-profit, Flatwater Foundation, and its mission to provide access to therapy for families coping with a cancer diagnosis. Jesica and her husband, Mark, have two kids: one son and one daughter.

Member FDIC | Equal Housing Lender | NMLS# 1508061