Business Purpose Exemption: Joffrey Long,

Private Money Expert Witness / Direct Lender


The business purpose exemption, (“BPE”) applies to real estate loans that are for business purposes, as opposed to loans that are for consumer purposes, possibly making them exempt from certain laws, regulations, and practices.

Joffrey Long is President of Southwest Bancorp, a direct private money lender/brokerage in Southern California that makes private (hard) money loans with its own funds, as well as arranging, servicing, and providing private money and institutional loans. Southwest Bancorp also provides interests in “fractionalized loans” for direct purchase by private trust deed investors. ( Loans made, arranged, and/or serviced by Southwest are secured by Southern California properties including residential 1-4 family properties, multiple unit (5 to 100 units) properties, small retail or mixed use, warehouse/industrial, and office buildings.

Joffrey also provides consultation, expert reports and declarations, and testimony at trials and arbitrations in real estate lending and loan servicing matters. ( He testifies as what would be referred to as a “private money expert witness” or “hard money expert witness” in matters related to the Business Purpose Exemption, among other lending, loan servicing, and trust deed investment topics. He is a Past-President and Past-Education Chair of the California Mortgage Association, (“CMA”) ( the primary trade association for private money lenders and loan servicers. He continues to make presentations at CMA’s educational conferences. He has participated as a presenter in a webinar series produced by the Buchalter Law Firm. ( He is an instructor for continuing education classes required under “NMLS,” the Nationwide Multistate Licensing System for mortgage loan originators. (“MLOs”) He is also an instructor for continuing education classes required by the California Dept. of Real Estate (www.DRE.Ca.Gov) for real estate licensees.

Southwest Bancorp is a licensed real estate broker, Calif. Dept. of Real Estate, license number 00898122 and holds an endorsement from the Nationwide Multistate Licensing System, (“NMLS”) identifier number 285731. Joffrey Long is a licensed real estate broker, (since 1979) license number 00525142 and holds an endorsement # 207202 from NMLS. Southwest Bancorp also does business as Southwest Mortgage. Southwest Bancorp 5151 California Ave, Suite 100, Irvine, CA 92617-3205 (818) 635-1777