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 followFirst note I ever bought and I want to write down what happened while it's still embarrassing. Performing first lien. UPB 54,300, coupon 9%, payment 497, 31 months of on-time paym…
The seller's tape said 5.0% fixed on an $88,300 balance. The original note said 6.875%. That's how I found the mods. There were two of them, one from 2016 and one from 2020, both…
Posting this because I did the modeling carefully and still ended up with the wrong answer, and the mistake was in the structure rather than the math. I bought a partial rather th…
Closed this one out last month after 19 months, so the numbers are final. What I bought: performing second lien, UPB 41,000, coupon 10.5%, P&I 402, 27 consecutive on-time payments…
51 clean payments, 8.9% note rate, $498 a month, UPB $56,200. Small southeast town, 1.1 acres, doublewide set on a permanent foundation with skirting and a carport. I paid 84 of U…
The O&E report came back with one unpaid tax installment, $1,840, on a loan with no escrow account. That's the part I want to talk about, because everything else about this note w…