Recently the note market has lost a valuable resource. Whatever your opinion of Russ Dalbey is, his company provided a valuable service to us note buyers by posting on a large scale, notes for sale that were found by his students / finders all over the country. A couple of years ago, I was invited…
Appreciation and our message to our customers
Being busy is usually a good thing. Our volume of deals to close by year end kept us from a blog entry in November and finally we have a breather to post one for December. In our business you never know what the day will bring. Over the nearly 33 years I have been in…
A RECENT PURCHASE THAT WE MADE
I was sitting at my desk and a call came in on our toll free line from a local loan broker that made a loan to a borrower who purchased a fixer-upper condominium in Foothill Ranch (here in Orange County). I found it unusual that a loan broker was calling me to buy his loan…
VOLITILITY IN THE EQUITY AND FINANCIAL MARKETS WILL EFFECT THE REAL ESTATE AND LOAN MARKET
While you see the Dow Jones index swing wildly, gold hit new record highs, financial institutions like Bank of America loose 1/2 of their value this year and other events happening around you, how does it affect the Real Estate and Loan markets? In general the economy effects the real estate market the most. If…
WE ALSO MAKE NEW LOANS AS WELL ON OCCASION…
On occasion we make a new loan origination. Recently, I was contacted by a referral source who presented an opportunity to make a refinance loan on a 10 unit apartment building in West Hollywood. One of the old loans on the building had a balloon payment come due. When borrowing money from a non-bank source,…
A RECENT TRANSACTION WORTH TAKING NOTE OF
Earlier this month we purchased a seller-carryback 1st position loan on a 2 unit commercial property in Sherman Oaks, CA. The seller shopped around and actually was quoted a slightly higher price by another company who promised to deliver. After the other company fell through, we funded the deal in 72 hours. That was a…
HOUSING STARTS ARE UP, HOW DOES IT AFFECT US?
The Associated Press posted an article today concerning economic data coming out for the month of March that shows housing starts in the West are up 27.6%, you would think that is good news and to an extent it is. But the bigger picture is that just the month before in February, housing starts were…
Americans Net Worth Continues To Rise…
Today the Associated Press released statistics that Americans net worth rose by 3.8% during the last 3 months of the year last year. The numbers are showing how we are continuing to rebuild net worth lost from the recession. This is welcome news for us in the mortgage business because rising net worth means that…
ECONOMY IS PICKING UP, HOW ABOUT REAL ESTATE VALUES?
Yesterday I attended a conference hosted by the California Mortgage Association. As a member I have access to information directly from economists, assemblymen and women, government agency representatives, attorneys and my peers in the business, all present at this quarterly seminar. What I can share with you from the keynote speaker is that by nearly…
RECENT EVENTS AFFECTING THE TRUST DEED MARKET
Today in Massachusetts a judge ruled that Wells Fargo Bank had foreclosed on 2 homes without having the proper paperwork in order regarding ownership of the 2 loans they foreclosed on. Large banks and others use the Mortgage Electronic Registration System (MERS) to register ownership of the loans they originate, buy and sell. The…