Skip to main content

Improved lead management and loan pricing come to Zillow Mortgage Marketplace from Leads360 and LoanSifter

National Mortgage Professional
Apr 06, 2009

LoanMarket.NET launches marketplace for buying and selling whole mortgage loansMortgagePress.comLoanMarket.NET, online marketplace, real estate-secured investments, Jeff Freud LoanMarket.NET has announced the launch of its online marketplace for buying and selling real estate-secured note investments. The Web site empowers both buyers and sellers of real estate-secured notes by creating a neutral, open marketplace that brings efficiency and full pricing transparency to the traditionally opaque secondary market for real estate-secured investments. LoanMarket.NET is designed to offer both existing note investors and those interested in entering the market for the first time unprecedented access to this asset class. Notes available on LoanMarket.NET come from a variety of sellers including mortgage originators, banks and lending institutions, mortgage pool investors, small private investors, and seller carry-back note holders (property sellers who provide financing to buyers in order to facilitate a sale). These sellers benefit from the simultaneous exposure of these investment opportunities to a much wider group of individual and institutional investors, resulting in better pricing and increased liquidity. To enable investors to adequately determine a loan's risk and establish an appropriate price, all notes listed for sale provide a high level of detailed information including a current market value (CMV) and photo of the underlying property (pulled within 14 days of posting), and all vital loan documentation such as the Note, the Deed of Trust, the Title Policy and evidence of homeowner's insurance. "The market for buying individual mortgage notes from originating lenders has traditionally been available only to investors such as Wall Street investment banks, large hedge funds, and regional banks," said LoanMarket.NET founder and President Jeff Freud, a 20-year real estate and mortgage industry veteran. "Now small institutions and sophisticated individual investors, such as those who have traditionally invested in other debt instruments, can gain access to these income-generating notes, collecting principal and interest payments just as the former lender did for the remaining term of the loan or until a refinance or sale occurs." Unlike traditional purchasing of investment property or auction venues for buying foreclosed homes, where buyers acquire ownership of physical property, LoanMarket.NET listings are for transferring ownership of income-generating notes, which are secured by the real estate. "We understand that LoanMarket is opening the doors to a traditionally closed marketplace and we're committed to ensuring new note investors a positive experience by offering transparent asset information, real price discovery and seamless transactions," said Freud. For more information, visit www.LoanMarket.NET.
Published
Apr 06, 2009
400 Mortgage Loan Originators Caught Trying To Skip School

400 mortgage loan originators nationwide deceptively claimed to have completed their annual continuing education as required by state and federal law.

Industry News
Jan 19, 2022
Infamous Better.com CEO Is Back And Employees Are Upset

After a month-long hiatus or “break” as Garg likes to call it, the CEO is back at the helm of the company.

Industry News
Jan 19, 2022
Capacity Closes $38M In Series C Funding, Surpasses $62M In Total Capital Raised

AI-powered automation platform, Capacity, announced an additional $27 million in Series C funding, closing out the round at more than $38 million.

Tech
Jan 19, 2022
Millennials Are Still Powering The Housing Market

First American Financial Corporation's Potential Home Sales Model for Dec. 2021 revealed that millennial demand is propelling the housing market, thanks to low rates and increased geographic flexibility.

Analysis and Data
Jan 19, 2022
Open Mortgage Adds A Chief Revenue Officer

Scott Harkless will spearhead all wholesale and retail sales functions for the national multi-channel mortgage lender.

Industry News
Jan 19, 2022
Home Builder Confidence Dips Due To Inflation And Supply Chain Concerns

Home builder confidence in the market for newly built, single-family homes fell by one point to 83 in January 2022, according to the National Association of Home Builders and Wells Fargo's Housing Market Index report.

Construction
Jan 18, 2022