Archive for May, 2014

NOTE SELLERS; TODAY v. THE PAST

Sunday, May 25th, 2014

Lately we find ourselves buying Notes from Banks and Private Equity funds more so than private parties. Our website and blog pages are addressed more to the private party who carried back a loan via a sale of a piece of Real Estate. The main business we have conducted for 35 years is the Note purchase business. Sourcing Notes from private parties, Banks or Private Equity firms, our goal remains the same, to give Note seller the best price, as well as smooth and quick a transaction as possible.

Sellers, epically Private Equity Funds and Banks are looking for particularly top dollar for loans they sell. After all Banks who fund those loans did not expect to take any type of discount on them, only certain circumstances causes a Bank to sell a loan they have on the books, usually the borrower has an issue, not necessarily a problem paying, but perhaps an unwillingness to provide annual financial information that the bank requires due to regulations. Perhaps a borrower doesn’t provide annual income and expense information on an apartment building that the banks’ loan is secured by. The bank may wish to just sell the loan instead of forcing a borrower to comply, we have bought many loans with that situation. Our reputation to pay top dollar and pass the vetting process by major banks ensures us a steady stream of quality Bank Notes to buy.

Currently we are in the process of funding 3 seasoned bank loans, as well as bidding top dollar on a 4th one we expect to be the winning bidder on. We also heard from 2 private party sellers this week, however the quality of the loans did not allow us to make offers on them.

Whether you are a private party, or an Equity Fund manager, or a Vice-President of a Bank, you will be treated with the same respect and professionalism from us. Often we buy loans in 48 hours, certainly most loan purchases take 3-5 days to complete, but not due to our end. If you are looking for a top dollar price with quick closing and professional, experienced expertise give us a chance to give you a price quote on your Note.