Online Marketplace Launched For Whole Mortgage Loans

rket.NET has launched an online marketplace for buying and selling real-estate-secured note investments. The Web site is designed to offer both existing note investors and those interested in entering the market access to this asset class. Notes available on LoanMarket.NET come from a variety of sellers, including mortgage originators, banks and lending institutions, mortgage pool investors, small private investors and seller carry-back note holders (property sellers who provide financing to buyers in order to facilitate a sale). These sellers benefit from the simultaneous exposure of these investment opportunities to a much wider group of individual and institutional investors, the company says. All notes listed for sale include information such as a current market value (CMV) and photo of the underlying property (pulled within 14 days of posting), and all vital loan documentation, such as the note, deed of trust, title policy and evidence of homeowners insurance. "The market for buying individual mortgage notes from originating lenders has traditionally been available only to investors such as Wall Street investment banks, large hedge funds and regional banks," says LoanMarket.NET Founder and President Jeff Freud. "Now, small institutions and sophisticated individual investors, such as those who have traditionally invested in other debt instruments, can gain access to these income-generating notes, collecting principal and interest payments just as the former lender did for the remaining term of the loan or until a refinance or sale occurs." SOURCE: LoanMar


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