Real Estate Broker · Northwest Indiana, IN · Member since 2011 · 2k+ posts · 2k+ votes
I have noticed lately there are lots of views related to posts regarding notes secured by real property. I also noticed the bulk trading forums had a bit of negativity to them. So I decided to open a group which deals specifically with whole loan trading in bulk and in single. The group is open to the public and I hope some of the experienced folks on BP can join us to help make the group a value add to BP.
Additionally, I hope to see some of the lesser experienced folks join us for solid discussions around various details related to the industry. The previous groups and forums seem to be have lost their integrity which we hope to bring back to this space. There is a legitimate business around the buying and selling of whole loan mortgages in bulk and one off basis and I hope with the help of a couple others here to bring that to light for members as a viable option to their business practices.
Navigate to the Group portion of BP and search for Whole Loan Mortgage Trading. Feel free to say hello once your in the group.
I still think of Institutional Pools and (Institutional) Individual Notes as unicorns...I've heard of them, but never myself have I ever seen one (or bought) one.
No, just a means to help keep you at 100 influence.
No wonder the site is slower these days, your 150+ posts each week are slowing down the servers Bill!
Get out of the house from time to time! :)
Just saw this as an excuse to post something.....LOL, I appreciate the concern of my well being and having a life, but I do get out everyday, I'm a multi-tasker as well.
At 96, you're almost there as well, if that's a goal....
Marc Faulkner, glad to have you join and thanks for doing so.
I like what you said above:
Originally posted by Marc Faulkner:
I find that the key is to get the seller(s) under contract up front, so that you have some control over the deal. When you have the seller wrapped up under the right contract, there is no need to put you potential buyers through a bunch of mumbo jumbo.
That would make a good thread in the group I think. Speaking to managing expectations of a seller and the additional pre-trade prep work along with how you work the deal as a function of your role, etc.. This has application both in bulk and one off trade situations.
I can certainly share some commentary from my experiences, some of which have been painful learning curves. Post it up if you have some time.
Dion DePaoli: I've joined the group -- is there any way possible that you can lower the amount of posts posted elsewhere in order to post in the group? I read quite a bit on BP (time permitting), but rarely post.
I'm looking for larger RE-secured pools $5MM+ in all various stages of performance and larger $1MM+ one-offs (mainly commercial).
Also, we'll take a look at about anything besides unsecured personal, charge-offs, and UCC business assets.
We (my firm) will be soliciting bids on a one off or bulk basis on a pool of mostly cash flowing residential loans that are low balance. There are a couple of folks who I have come into contact here on BP that expressed some interest who have received notice of the same.
I will post a little more detail in the group and field questions specific to the situation in the group only. If you are not a member, it is open to all.