← Ammag Holdings

Ammag Holdings LLC · dba Ammag Realty Group

1309 Coffeen Avenue STE 20183 · Sheridan, Wyoming 82801

(872) 276-2320 · principal_concierge@ammagrealtygroup.info

Principal Candidacy

The house is presently held by a single principal. A second chair is opened only by invitation, and invitation begins here.

The Principal Screen

Twelve items of judgement, drawn from the situational-judgement and accountability screens used across institutional lending desks. There is no time limit. Answer as you would act with a member's capital in your hands.

0 of 12 answered · pass mark 80

Item 1

A borrower you like is $40,000 short on reserves. The deal is otherwise clean and closing is Friday.

Restructure the file — reduce the draw or bring a co-guarantor, in writing.Delay the close and re-verify reserves before anything is promised.Fund it. Reserves usually appear after closing.Let the borrower certify the reserves verbally and move on.

Item 2

An applicant's bank statement has been edited. They call it a formatting error from their accountant.

Decline the file and document the reason on the record.Request originals directly from the institution before any further work.Accept the explanation — the numbers still reconcile.Ask them to resend a cleaner copy and say nothing further.

Item 3

A file you underwrote defaults in month four. What is the first thing you do?

Write the post-mortem yourself and present what you missed.Work the workout plan first, then review the underwriting.Establish that the market, not the file, was the cause.Hand it to servicing and take the next deal.

Item 4

A member calls at 9pm, anxious, three days from closing. Nothing is actually wrong.

Take the call, walk the timeline line by line, confirm in writing that night.Answer briefly, then send a full written summary in the morning.Let it go to the concierge line — the file speaks for itself.Reply that everything is fine and end the call.

Item 5

An appraisal comes in 12% under contract on a residential rehab.

Re-run the exit at the appraised value and reprice or renegotiate.Order a second opinion before any decision is communicated.Lend to the contract price — the borrower has upside.Kill the file immediately without discussion.

Item 6

A commercial borrower asks you to fund off a rent roll you have not verified.

Verify leases and estoppels before a term sheet is issued.Issue terms clearly conditioned on lease verification.Fund on the rent roll — it is a signed document.Verify a sample of leases after closing.

Item 7

Another investor asks who else is in your pipeline.

Nothing about a member's file leaves the house. Ever.Speak only in anonymised, aggregate terms.Share names — the industry is small and it builds trust.Trade information if it wins the next deal.

Item 8

A file would pay you well, and the sponsor is a close personal friend.

Disclose the relationship in writing and have someone else underwrite it.Disclose it and hold the file to a stricter standard than usual.Underwrite it yourself — you know them better than anyone.Keep the relationship private to avoid slowing the file.

Item 9

A borrower asks you to state a business purpose on what is clearly an owner-occupied loan.

Refuse, explain the law plainly and end the application.Refuse and refer them to a licensed consumer lender.Document it their way — they signed the certification.Ask counsel whether it can be argued.

Item 10

Six live files, all needing attention on the same morning.

Triage by closing date and dollar risk, then communicate a plan to every party.Work oldest to newest and update everyone by end of day.Handle the largest fee first and let the rest wait.Respond as messages arrive.

Item 11

The principal rejects your structure on a deal you believe in.

Ask for the reasoning, restructure and bring back a stronger version.Accept the decision and apply the standard going forward.Take it to the borrower and see if they will push back.Shelve the deal and say nothing.

Item 12

What would make you walk away from a profitable file?

Any misrepresentation, however small, by any party.An exit strategy that cannot survive a slow market.Only a legal prohibition.Nothing — profit is the standard.

Your answers are read the moment you submit.

Ammag Realty Group

A division of Ammag Holdings LLC, a Wyoming Limited Liability Company.