We recommend you print and make copies of this list.
Company name:
Address:
Phone number:
Fax number:
Email address:
Contact person:
Are you a broker or do you invest in notes yourselves?
What property types will you/won’t you buy notes on? Residential, condos, co-ops, office, apartments, industrial, businesses, business notes without real estate, hotels, vacant land etc.
Do you purchase unseasoned notes?
Do you purchase second mortgages?
If so, what are your criteria?
What do you consider to be seasoned? (how many months)
Do you do simultaneous closings?
If yes, under what conditions? LTV, credit score, down payment etc.
Do you have a cutoff point on borrowers credit scores?
For example, do you purchase notes with borrowers credit score under 500?
How long does it take to get an answer/offer?
What is your maximum LTV/ ITV on first mortgages?
What is your turnaround time once you have received all the documents?
Do you offer wholesale and/or retail quote?
Do you have a minimum note value that you purchase?
Do you use a national appraisal company?
Do you use a national title company?
How are the funds distributed?
Do you have special submission forms to use? If so, where/how do I get them?
