FCI Exchange Questions

[Dennis Weber]

On FCI's Diamond notes (the one's that they service), does one assume that a workout was unsuccessful and that FC is the only exit strategy?

Also, is minimum offer really the minimum?  Some notes seem overpriced. 

[Bob Malecki]

Actually there is a way... Since this is a note serviced by FCI, once you get your offer on the table and engage with the seller via the web portal chat section, ask the seller to provide the servicing notes for the loan. I've done this when I've bought on the exchange, and if the seller has nothing to hide then he/she should have no problem providing it.  They can export all servicing notes to XLS and then upload the file with the due diligence file upload tool. 

Originally posted by @Nick Hawryluk:

I don't think you can make that assumption. A note really needs to be serviced with someone licensed for compliance regardless of performance or workout activity. It doesn't mean any workout attempts were made because FCI is servicing it. Unfortunately, there is no way to tell what's been done with the note prior to purchase. However, after purchase you might find a good history in FCI's notes in the account.