WHOLE LOAN TRADING OR SINGLE ASSET LOAN SALE
- Scratch and Dent Loans
- Seasoned Portfolios
- Delinquent Government Loans
- Semi-Performing Loans
- Delinquent Seller Financed Loans
- Newly Originated Seller Financed Loans
- Newly Originated Institutional Loans
Sage Notes specializes in purchasing loans that traditional correspondent investors may not fund due to overlays or minor compliance issues. We offer a competitive alternative to “scratch and dent” loan sales. Sage Notes can bid loans within 24 hours and purchase in as little as two weeks from submission of a loan package.
- Ability to quickly liquidate loans aging on your warehouse or held in portfolio
- Competitive pricing aligned with risk
- Single loan or bulk packages
- Reasonable due diligence process focused on fundamental credit decisions
- Timely and consistent purchase timelines
- Limited impact to consumer as loans are serviced by Sage Notes LLC.
Non Performing Government Insured:
- Delinquent and Seriously Delinquent loans
- Early Payment Defaults (EPD)
- Ginnie Mae buyouts
- Modified loans are ineligible
- Performing FHA, VA, USDA, and 203k (repairs complete)
- No Overlays to agency guidelines
- Inaccurate MIP or VA guaranty shortfall
- TRID or other minor compliance issues
- New production or seasoned
- CRA Portfolios
- Fixed Rate only
- Fixed Rate and standard ARM plans
- No overlays to agency guidelines
- TRID and other minor compliance issues
- Must meet agency underwriting guidelines
- Seasoned Portfolios
- Repurchased loans ineligible
QUESTIONS ON SELLING MORTGAGE NOTES
Wondering how this whole note buying process works? Get answers to frequently asked questions including:
Why Would I Sell My Mortgage Note?
How Do Note Buyers Decide on a Value?
What Can I Do to Make My Note Worth More?
WHY OWNER FINANCING?
Owner financing is on the rise with more sellers agreeing to accept payments from buyers. There are many reasons people agree to take back a note, deed of trust, mortgage or contract including:
- Quick sale of the property
- Monthly income from the note
- No hassles of bank financing (fees, delays, and strict underwriting)
- More qualified buyers
- Property is hard to finance
WHY WOULD I SELL MY MORTGAGE NOTE?
Circumstances change and many sellers would prefer cash today rather than small payments that trickle in each month. Here are just a few reasons people have sold their note payments for cash:
- Investment Opportunity
- Expensive Medical Care
- College Tuition
- Unexpected Financial Changes
- Peace of Mind – no more worrying if the buyer is going to make late payments or having to foreclose
- Accounting headaches, IRS regulations, paperwork hassles and the list goes on…
WHAT IS A NOTE APPRAISAL?
A note appraisal reflects the current market value of your payments similar to what a real estate appraisal provides for real property. It shows what your future payments are worth in cash dollars today and is sometimes referred to as a “note analysis” or “quote”.
We recommend you have your note evaluated once a year as pricing may change based on market conditions
HOW DO I MAINTAIN THE VALUE OF MY NOTE?
Many of the items that affect the value of your note were determined at the time the property was sold. However, there are three things that you can do now to make your note more valuable:
- keep good records and copies of the payments received,
- obtain a copy of the property insurance policy from the buyer each year; and
- verify the property taxes are paid when they come due (usually twice a year).
This will help maintain the value of your important asset and avoid any unpleasant surprises.
CAN I SELL ALL OR PART OF MY NOTE?
We can purchase all or part of your remaining payments. Selling part of the payments allows you to receive a lump sum of cash up front, then payments when the note reverts back to you. We can even pay cash for a portion of each monthly payment.
Many people elect to sell just enough payments to meet their cash needs today and keep some of the future payments as an investment or nest egg. Always ask for an option that meets your needs.
HOW IS THE VALUE OF A NOTE DETERMINED?
The value of a note is affected by the down payment, interest rate, payment amount, and term as well as the buyer’s credit rating and payment history. The type, condition, and value of the property also impact the value of your note.
The time value of money, which makes payments due now more valuable than payments due in 20 to 30 years, also plays a role in the evaluation process. Generally, due to inflation, money in your pocket today is worth more now than later. All of these elements will be taken into consideration in determining the current value of your note.
How will selling my note affect the payer?
The payer experiences no change in the way the payments are structured. The only change will be the address where the payments are mailed.
HOW DO I GET STARTED?
The first step is to obtain a quote by completing our NDA and or by calling us at (214) 864-9796. We also request copies of the documents relating to your transaction:
- Note and Mortgage (Deed of Trust or Contract)
- Closing statement
- Buyer information
- Pay history and current balance
- Previous title insurance policy
- Current hazard insurance policy
We will then provide you an offer subject to the standard title, appraisal, and buyer’s credit review. Once under contract, you will receive your cash as soon as all of the documentation can be obtained. This typically takes as little as 10-15 working days.
HOW WILL I BE PAID IF I DECIDE TO SELL MY NOTE?
The purchase price is paid in guaranteed funds (cashier’s check or wire transfer) upon receipt of the final transfer package and original documents.
We are happy to wire funds to the title company so you may exchange your original documents for the proceeds, assuring the safe and secure transfer of your valuable asset.
WHY SHOULD I WORK WITH YOU?
We pride ourselves on:
- Quick closings
- Excellent customer service
- Competitive quotes
- Providing customized options
- Strong financial backing
- Flexibility on all note purchases
- Confidentiality with all transactions
- Credibility in the industry
Contact us if we can assist you!
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The material on this website is for the general information of our clients and visitors. This website does not constitute an offer to sell or a solicitation of an offer to buy or sell any security or investment product, and may not be relied upon in connection with any offer or sale of securities. Nothing on this website is a recommendation that you purchase, sell or hold any security, or that you pursue any investment style or strategy. Nothing on this website is intended to be, and you should not consider anything on the website to be, investment, accounting, tax or legal advice.