(209) 878-7817

Preferred Purchase for NPN’s & Bid Stips

Preferred Purchase Matrix for Non Performing Notes (NPN’s)

Guideline for All Product Types:

  • ALL DEALS MUST BE OFF MARKET DEALS (If they are not off market then they will automatically be turned down)
  • I must be able to talk to the seller directly
  • No broker chains – ZERO
  • All Brokers will be protected
  • You have to be in control of the deals
  • We will only provide Proof Of Funds (POF) when we have interest in a deal (No POF’s will be issued just to look at a deal)

SFR – NPN’s: (This is an in-house purchase)

  • Min. Pool Size: Single Assets and pools of 1M to 100M in UPB
  • Pay History: No more than 5 years past due
  • Max. LTV: 100% of CMV
  • Occupied: Yes (preferred) but I will purchase vacant properties as well
  • Title Seasoning: None required
  • Area: Nationwide (Quality of product will be reflected in pricing

Non Performing Bid Stipulations

[To include when bidding on a note or pool of notes being offered for bid by a Seller]

  1. Buyer will purchase loans servicing-released
  2. Due diligence includes: review the underwriting file; review of the collateral; a Broker Price Opinion (BPO) to assess property value, and; a compliance review
  3. No land, mixed-use, multi-family, commercial or properties so unique as to preclude a residential BPO valuation
  4. Final price will reflect due diligence results
  5. No separate payment for servicer advances
  6. Borrower has paid real estate taxes due
  7. Buyer and Seller will complete a purchase & sale agreement
  8. Property must have valid and enforceable lien and title
  9. Loan serviced in accordance with acceptable practices
  10. Seller has originated in accordance with applicable federal, state and local law
  11. Upon sale, Seller to make full reps and warrants
  12. Bid must be accepted by (insert date)

Thank you, contact me with any questions or Note Offerings
John D. McEnroe Jr.
Ph 209-878-7817
e-mail John@BroadLeafInvestments.com