National Note Originates, Buys, Sells and Services Real Estate Notes (secured by Mortgages and/or Trust Deeds), using private funds.
National Note reviews hundreds of loan packages and applications every year. These opportunities flow to us through our network of real estate agents, note brokers, lending institutions and private note holders from all over the country. Out of this group of potential transactions, we carefully select loans for further review and underwriting. The rest we decline, or refer to other note buyers or institutions.
After our staff has reviewed each of the proposals we are interested in, we underwrite only the most promising ones, and prepare to fund or purchase only those loans that meet our standards for documentation, creditworthiness, equity, yield, and safety.
Following the loan purchase, National Note services the loan (collects payments and handles customer service) in much the same way as other institutions that collect payments on mortgages. On each loan National Note purchases, the company handles all aspects of communication with borrowers, including the printing of payment coupon books, collection and application of payments, mailing of periodic statements, tax reporting, escrow account management, payoff requests, defaults, foreclosures, and REO management.