Note Buying in 2025 – What’s Everyone Seeing?

[Richard Dickson]

Hey all,

I’ve been focused on performing 1st position residential notes and noticing some shifts—more tech tools for due diligence, tighter compliance, and steady demand for performing paper.

Curious—are you seeing more performing or non-performing inventory right now? And how are you adjusting your pricing or underwriting with the current market?

Looking forward to hearing how others are approaching note buying in 2025.

[Chris Seveney]

Quote from @Yael Maroko:

Quote from @William Thompson:

Great question! I’m seeing more performing notes in the mix lately, but the bigger shift is how investors are structuring deals—tax treatment and compliance can swing returns as much as pricing. Curious what others here are adjusting in their underwriting.

 Curious to understand what you mean by "tax treatment and compliance".

 This is what happens when people use chatgpt to provide responses. You get these types of responses that make zero sense on how tax treatment and compliance impact inventory, underwriting and pricing.