Non-Performing, Re-Performing, Semi-Performing & Performing Note Offering

[Copelon Kirklin]

Although private money lending is my primary source of business, I have various colleagues in the secondary marketing industry. The offering below is through a colleague of mine who is the CEO of a note selling exchange. Contact me if you're interested in knowing more.

APRIL 2015 Note Offering:

• 100 New Low Balance Non Performing Loans.
• 20 Re-Performing & Semi Performing Loans.
• 50 Non Performing 2nd Liens.

Assets are located in the following states: 
AL, AZ, CA, CT, DE, FL, GA, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, NC, NJ, NV, NY, OH, OK, PA, RI, SC, TN, TX, WI, WV.

• Loan Level bids will be entertained with a preference for buyers buying multiple assets.
• All bids are expected to be firm and final.
• Pricing will vary based on the loan population selected, value and taxes of specific assets.
• Bids will be accepted on a first come first serve basis.
• Portfolio is available to cherry pick.

Portfolio Overview
Portfolio UPB: $6.1MM
Total Number of Loans: 170
Average Loan Size: $40,681.00
Interest Rate Weighted Average: 8.89%
Lien Position: 1st Liens and 2nd Liens
Collateral Locations: Nationwide
Collateral Type: Residential (1-4 family)

[Christopher Winkler]

You can pick these up over @ watermark exchange, though be aware they are just an exchange, and most likely not the owners, and the owners might not have the collateral, or there are missing assignments, etc. We waited 4 months for collateral and it never arrived, so luckily, we were refunded, twice! Once after 3 months when it was not going to be delivered, then 1 week later we were told to send the money, again, which we did, and it was refunded 30 days later. I have heard other companies never refund the money and that is a crime.

Going forward, if we are not dealing directly with the owners, who have verified all collateral is in house for quick delivery, we are using Richmond Monroe's Bailee agreement, where once we sign the PSA, the collateral goes to RM for scrubbing & identifying what's missing, to be recreated. Only then will we release funds. Waiting months for collateral files from ANY seller is ridiculous.