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Corporate Profile
OVERVIEW
CommonwealthLending.com LLC is a Massachusetts-based private real estate lender specializing in short-term first mortgage loans secured by residential and commercial real estate. The company provides financing to real estate investors, builders, and developers who require reliable, timely access to capital.
The company's lending philosophy emphasizes conservative underwriting, disciplined risk management, and strong collateral protection. Every loan is evaluated based on borrower experience, property value, exit strategy, and loan-to-value ratio, with the objective of preserving capital while providing efficient financing solutions.
CommonwealthLending.com LLC is owned and led by Michael J. Richards, Esq., a Massachusetts real estate attorney with decades of experience in mortgage lending, real estate finance, loan underwriting, and closing transactions beginning his legal practice in 1997. Throughout his career, Attorney Richards has originated and managed billions dollars in mortgage loans and has extensive experience with warehouse lending, secondary market operations, and private lending.
As an attorney, lender, and closing professional, Attorney Richards handles oversight of underwriting, documentation, and loan closings, allowing for a high level of quality control throughout the lending process.
Company CommonwealthLending.com LLC
3 Baldwin Green Common, Suite 209
Woburn, MA 01801
Principal Michael J. Richards, Esq.
781-953-1668 | mike@attorneyrichards.com
Founded Broker: April, 2000 – March, 2007
(Commonwealth Mortgage Services, Inc.)
Lender: March, 2007 – Present
Lending Area Massachusetts
Loan Types Bridge, Fix & Flip, Construction, Investment Properties
Maximum LTV 70%
Typical Term 12 Months
Position First Mortgage
Closing Counsel Richards Law Office LLC
PRIOR SECONDARY MARKET PERFORMANCE
Prior to transitioning its business model to private lending in 2020, CommonwealthLending.com LLC operated as Commonwealth Mortgage, LLC (NMLS #1023), a consumer licensed mortgage lender correspondent. During that period, the company routinely originated and closed $300 - $500 million in residential mortgage loans annually, utilizing two warehouse lending facilities consisting of a $20 million warehouse line with Texas Capital Bank and a $20 million warehouse line with First Tennessee Bank. All loans were sold into the secondary market.
At the time of its transition, Commonwealth Mortgage, LLC maintained 24 state mortgage licenses and held approvals from Fannie Mae, FHA (Full Eagle), the U.S. Department of Veterans Affairs (VA), the U.S. Department of Agriculture (USDA), and MassHousing. The company maintained correspondent relationships with 21 secondary market investors, providing broad execution options for loan sales and delivery.
Commonwealth Mortgage, LLC also maintained a Fannie Mae broker-dealer approval, enabling the company to hedge its pipeline of unclosed mortgage loans. Attorney Richards was directly responsible for the company's secondary marketing and pipeline risk management. Working daily with MCT Trading, he actively managed hedge positions to maintain optimal pipeline coverage, executed mandatory loan commitments, and utilized bulk commitments with investors to maximize execution while effectively managing interest rate risk.
In 2019, Commonwealth Mortgage, LLC completed an asset sale to NewFed Mortgage, Inc. of Danvers, Massachusetts. As part of the transaction, the company's name, website, and certain operating assets were conveyed to NewFed. Following the sale, the company transitioned from traditional mortgage banking to private real estate lending under the modified name CommonwealthLending.com LLC, accompanied by the launch of a new corporate website and a business model focused exclusively on private investment property financing.
This extensive experience operating a high-volume mortgage banking platform—including warehouse line management, secondary market execution, pipeline hedging, investor relations, and regulatory compliance—provides the operational foundation upon which CommonwealthLending.com LLC continues to build its private lending platform today.