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Updated about 6 years ago on . Most recent reply

What changes do you see happening in the note industry in 2019v
- Chris Seveney

Most Popular Reply

- Lender
- Lake Oswego OR Summerlin, NV
- 64,010
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I would definitely get chummy with the non QM lenders that portfolio their paper.. back in the day when a lot of this was done by Thrifts
like household finance and others.. I had a pipeline at one time in Oregon were i got a swing at all of their NOD's with the model for me to buy the note 30 days from the sale.. just do a substitution of trustee and normal assignment.. I would either end up with the asset or someone would buy it at the court house steps.. Now i never tried to get them performing like you guys do it was simply a strategy to buy deeply discounted real estate and not have to wait forever for the foreclosure time lines.. Sadly Mrs. Pickle ( her real name) was transferred and the new state manager would not play ball. but it was great while it lasted.
on Dodd Frank side I keep my NMLS license current although i am not active mortgage lender right now.. but i do the CE every year and read the periodicals.. don't see much of anything changing there. So many of the distressed notes were the 2nds that were given for no money down deals.. those have at some point have to finally flush through the system.
But this being merica there will ALWAYS be defaults.. its not Canada thats for sure.
- Jay Hinrichs
- Podcast Guest on Show #222
