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.
