Clopton Capital, a Chicago-based commercial financing services firm, is exploring adding residential loan services to its suite of offerings.
Although originally uninterested in the residential market, the lender, which focuses primarily on commercial mortgages, Small Business Administration loans and niche financing mechanisms, says it is tentatively looking for a place to refer residential loan requests the company receives via its commercial-mortgage-centric websites. Clopton Capital says it does not want to be actively involved in the processing of residential loans, citing a desire to avoid licensing issues that could arise.
"As of now, there are no absolute plans or deadlines on when and if Clopton Capital will form any joint venture with a residential lender, but the idea will continue to be explored likely until January 2012," the company said in a statement.
