NPL Financing - Sharestates

[Jordan Blackwell]

Hello BP Family,

I'm not sure if we can share links via the forum but I recently heard that Sharestates is now funding Non-Performing Loans. You can find the announcement here (https://www.prnewswire.com/news-releases/sharestat...) and more information on their website (https://invest.sharestates.com/fund-non-performing...). 

Would love to know people's thoughts!

[Chad U.]

My colleague @Chris Seveney looked into it and here was his response:  

PSA
Some of you may have seen some people posting on other sites about a company that will finance NPL's. These people are brokers who get a commission for a company called sharestates. As an FYI I spoke with them and their terms are for notes only (no cfd's), they charge 12% + 3 points and will fund up to 50% of appraised value (which requires a full blown $500 appraisal - oh which needs to be interior as well) and up to 80% of UPB. Min. Single loan amount is $100k

It is brand new and they did not appear to know a lot about notes as I told them you will not get an appraisal with interior inspection and he did not know how to respond.

PRNEWSWIRE.COM Sharestates Offers Non-Performing Loan Financing Nationwide

Real Estate Crowdfunding Company Sharestates Launches New Non-Performing Loan Financing in 4