Doc needed to purchase private whole loans

[Mona Smith]

Anyone have the docs needed to purchase private party whole loans? These loans are not being purchased through a bank... If not can someone point me in the right direction?

I think I need a Mortgage Note Purchase and Sales Agreement and a Mortgage Assignment Agreement along with my simple assignment contract which I already have... Just looking for the first 2 docs and trying to confirm these are the correct docs needed.

I will be purchasing the loan at a discount and wholesaling it to another investor.

Thanks

[Account Closed]

Originally posted by @Mona Smith:

"... wholesaling it to another investor."

 If this is happening in CA, I'm pretty sure you are acting as a broker when you acquire notes to resell.  Buying and reselling loans isn't the same as buying and reselling houses.  Tread softly.  If you haven't already, you might want to speak with a mortgage attorney.

Also, escrowing docs and funds tends to put both buyer and seller at ease ... you might want to consider an escrow.