Questions to ask Note Investors

We recommend you print and make copies of this list.

• Company name:
• Address:
• Phone number:
• Fax number:
• Email address:
• Contact person:
• Are you a broker or do you invest in notes yourselves?
• What property types will you/won’t you buy notes on? Residential, condos, co-ops, office, apartments, industrial, businesses, business notes without real estate, hotels, vacant land etc.
• Do you purchase unseasoned notes?
• Do you purchase second mortgages?
• If so, what are your criteria?
• What do you consider to be seasoned? (how many months)
• Do you do simultaneous closings?
• If yes, under what conditions? LTV, credit score, down payment etc.
• Do you have a cutoff point on borrowers credit scores?
• For example, do you purchase notes with borrowers credit score under 500?
• How long does it take to get an answer/offer?
• What is your maximum LTV/ ITV on first mortgages?
• What is your turnaround time once you have received all the documents?
• Do you offer wholesale and/or retail quote?
• Do you have a minimum note value that you purchase?
• Do you use a national appraisal company?
• Do you use a national title company?
• How are the funds distributed?
• Do you have special submission forms to use? If so, where/how do I get them?