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Auction site BigBidder.com opens door to secondary market for mortgage notes

NationalMortgageProfessional.com
May 28, 2009

BigBidder.com is a first-of-its-kind platform for the online auction of mortgage notes. BigBidder allows qualified investors and small investment groups to buy individual mortgage notes secured by real property from around the country, finally giving all types of investors access to this burgeoning market. Historically, mortgages were bought and sold by Wall Street institutions in large bundles for a price that precluded most individual investors from participating. BigBidder features an online auction platform that eliminates the inefficiencies involved with selling individual notes, finally opening the secondary mortgage market to investors of all sizes. “For far too long, individual investors watched from the sidelines as financial institutions played their inside game,” said BigBidder.com Senior Vice President Paul Lyons. “It’s about time we changed that game. BigBidder.com is the key, bringing Wall Street opportunities to Main Street investors.” BigBidder emphasizes transparency and simplicity, providing investors with comprehensive information on thousands of notes. Buyers have access to all of the resources necessary to conduct due diligence and can participate in live auctions from anywhere in the world. In addition, BigBidder ensures an open and transparent auction through the online bidding process. “This is an exciting development that has been a long time coming,” said Bryan Werlemann, managing principal at Wells Fargo Advisors, “and it couldn’t come at a better time. There are great deals to be had out there as financial institutions look to unload these mortgages.” BigBidder empowers the individual investor with a wide variety of mortgage notes. The unique auction platform allows buyers to search for notes using a number of categories ranging from geographic location to specific interest rates. BigBidder also features auto-bid functionality, allowing buyers to set a maximum bid and stay informed on the status of the auction through e-mail. Thanks to BigBidder, the market for real-estate backed notes is no longer an exclusive insider game for Wall Street institutions. With its straightforward auction process, BigBidder brings this stellar alternative investment opportunity home to Main St. investors. For more information, visit www.BigBidder.com.
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