Trusted Mortgage Note Broker

[Stephen McMullin]

Hello All- 

I'm a relative newbie to the real estate arena - and a freshly minted member of BP. That said,  have a considerable amount of experience in asset-backed finance.

Because of this background, I have gravitated towards the notes space. I find the whole arena interesting and have done a material amount of leg work to understand the space and the mechanics. While there is always more to learn, lets assume that I have reached the requisite threshold to pull the trigger on a small deal (First Lien/ Performing/ Residential).

Despite strong efforts, I can't seem to find a Note broker that I can get comfortable with. I am particularly concerned about adverse selection - I am being offered the 'left-overs' that more experienced players (including the broker him/her/itself) have/has passed on. 

I'm looking for a broker with an incentive structure consistent with buyer's interests. Would really appreciate input from those at BP who have done deals through brokers they trust/ have established relationships with. Thank you.

[Jay Hinrichs]

@Stephen McMullin  when you say you want mid to high teens.. this is the issue good solid paper does not trade that high.. you will be buying risk paper.

good solid performing first trade at 8 to max 11 or 12..  with 10 being a nice average.. I have done over 600 of them in the last 4 years... you can ping me if you wish.. its better to get good conservative notes that are not problem child's and get them right away.. instead of taking a year to find the exact one.. other investors have already cashed in on one year of payments.  Build your base with good solid performers why you look for that unicorn high teens.