For those who invest in mortgage notes, what are the most important factors you review before deciding whether to purchase a note?

For example, how much weight do you give to:

• The borrower's payment history

• Current property value and equity

• Remaining loan balance

• Interest rate and monthly payment

• Property location and condition

• Loan-to-value ratio

• Remaining term and maturity date

• Whether the note is performing or non-performing

For experienced note investors, which parts of your due diligence process have helped you identify potential issues before closing?

And for newer investors, what information do you wish you had known before purchasing your first mortgage note?