Performing note buying means purchasing existing mortgage notes, the debt instruments, where the borrower is current on payments, acquiring the right to receive those payments.
Log in to followGot told two contradictory things in the same week. One person said buying notes is just buying an asset, no license needed, anyone can do it. Another said if the loan is on a hou…
Trying to size an entry position and the ranges I see quoted are all over the place. People talk about $20,000 notes and people talk about $150,000 notes as though both are normal…
Running numbers on single-note purchases in the $40k to $70k price range and the friction is worse than the models I've seen assume. Between the transfer fee to move a loan to my…
A private lender I know is selling a note on a house I did the kitchen and bath on a couple of years back. Owner-occupied, borrower has apparently paid every month since. He wants…
I'm looking at my first performing note, single family, borrower current for about four years. The seller emailed a list of what gets delivered at closing: original note, allonge,…
Looking at a pool of seasoned performing seconds, and the pricing convention in it is bothering me. The tape prices them around 88 to 92 of unpaid balance, which for a note at 9.5…
I've read the phrase maybe forty times and I still can't picture the transaction. A note has a face value. Someone sells it below that. But which number is face? Is it the origina…