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Updated almost 4 years ago,

Chris Seveney's profile image
Chris Seveney's profile image
Chris Seveney
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  • from Virginia
  • Member since May 23, 2015
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Chris Seveney's profile image
Chris Seveney's profile image
Chris Seveney
Lender
Pro Member
  • #3 All Forums Contributor
  • Investor
  • from Virginia
  • Member since May 23, 2015
Connect
Chris Seveney
Lender
Pro Member
  • Investor
  • Virginia
15,167
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Tax Liens & Mortgage Notes

Legal Balance Vs. UPB

Chris Seveney
Lender
Pro Member
  • Investor
  • Virginia
ModeratorPosted

@Tracy Z. Rewey

This was brought up by Tracy and I wanted to start a new thread. We are seeing many lenders attempting to sell loans off of legal balance vs. UPB. I would say in 99% of these instances I do not bid off of legal balance and only bid off of UPB. The reason is its very easy for a borrower to contest the legal balance as you will need to provide proof of all the invoices and advances. Some of them may span several lenders and servicers and the chances of getting that information is slim. Whereas the UPB is much easier to defend.

What are your thoughts? What do you bid off of?

  • Chris Seveney
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