Assets purchased will be acquired through various channels developed by us in our course of business. These channels are a result of relationships developed with resellers, brokers, asset managers and online note brokerage businesses. Our due diligence process creates a normalized mortgage file review platform whether the files are fully intact or have eroded in the secondary market over time and trading.
We start by vetting the seller of the note, then check on borrower pay history, fair market value of the home, location, market value dynamics, unpaid taxes, HOA dues, insurance, and subordinate liens. After an indicative offer is accepted we then review copies of the loan collateral files for key documents like the note, mortgage, chain of assignment integrity, allonges, and bankruptcy status/history of the borrowers.