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Notification: Investors are notified of Trust Deed Investment Opportunities that meet their criteria via email, with a link to a secure server where each loan is presented via a Specific Offering Package. Included is an Investment Summary that provides a narrative of the loan request including the location, purpose, use of funds, risks, compensating factors, exit strategy as well as the investment terms such as the interest rate, loan amount, monthly payment, loan-to-value ratio, position of the mortgage and a Due Diligence Package containing the borrower's loan application, credit report, preliminary title report, appraisal, supporting borrower documentation as well as other valuable information investors need to make an informed trust deed investment decision.
Commitment: After you and/or others commit to invest in a loan, we'll send you the appropriate paperwork and create the trust deed that secures that loan. Your identity will not be disclosed until both the terms and conditions are accepted by the client or by the Broker's client and your willingness to fund are communicated.
Closing: Typically, within 30 days of closing, we provide a Closing Package containing:
- Certified copy of Note executed by Borrower
- Recorded Deed of Trust in the investor's name, listing the investor as beneficiary.
- ALTA Title Insurance Policy
- Property Insurance declaration of coverage, listing the investor as loss payee.
- Certified copy of recorded Request of Notice of Default, if applicable
- Certified copy of Request for Notice of Delinquency, if applicable
- Loan Servicing & Disclosure Agreements
Loan servicing includes collecting payments from borrowers, disbursing payments to investor, mailing appropriate notices, monitoring the status of senior liens and encumbrances, maintaining adequate insurance coverage, and coordinating foreclosure proceedings if necessary. (see Investment Management for details.)
Good Deeds You Can Trust™ |
