Challenges of Retaining & Servicing "Scratch & Dent" Loans. – For most scratch and dent buyers, due diligence consists of the buyer ordering a BPO on the loan, pulling an updated credit report and performing a thorough review of both the origination and servicing files (e.g., pay histories, collection notes, customer correspondence, etc). Upon completion of the diligence process, the buyer and seller will.
Scratch & Dent Whole Loan Trading – Mid America Mortgage Inc. – Mid America Mortgage, Inc. specializes in purchasing closed loans that traditional correspondent investors may not fund due to overlays or minor compliance.
Scratch and Dent Mortgage Loans | The Journal of Structured. – Purchasing scratch and dent mortgage loans is more of an art than a science as the true value is in the ability of the servicer to assess the loan pool appropriately. Also important is the servicer’s ability to collect on mortgage loans, prevent defaults from occurring, or work out loans through.
Company Overview of Kondaur Capital Corporation – Kondaur Capital Corporation purchases scratch and dent residential mortgage loans. It bids family residential loans qm mortgage, including story loans, hyper-defaulted loans, loans secured by unique properties,
Calculated Risk: Tanta on "Scratch and Dent" Loans – "Scratch and Dent" is a real industry term. The approximate meaning is "loan with incurable defect." "Curable" is a real industry term and indicates something like a loan that closed with too little MI coverage (a kind of " bad stuff that happens"): you can "cure" that by buying more coverage.
Scratch and Dent Loan | legal definition of Scratch and Dent. – Scratch and Dent Loan; Definition of Scratch and Dent Loan. Scratch and Dent Loan means any Loan (a) that does not meet the Underwriting Guidelines (b) with respect to which certain documentation is missing from the Mortgage File or (c) (i).
PDF How To Deal With Scratch & Dent – Empire Mortgage – How To Deal With Scratch & Dent While some scratch and dent loans may be current and making their monthly payments, they still present a unique set of servicing challenges. W ith the current interest-rate environment causing a slow-ing of the refinancing boom, and with more originators entering the world of subprime lending, many
RBS to pay $4.9 billion in DOJ settlement over mortgage bond misconduct – RBS’ waiver of material defects routinely resulted in the securitization of loans with excessive risk. When it engaged in such waivers, RBS never included enhanced “scratch-and-dent” disclosures that.
Servicing Deals; Yield Curve and LIBOR News; Chinese and US Securities – 104379 .16mm helocs..27 loans, 5.40% WAC, 81.11% Original LTV, 290 WaRemaining Term, 2 mos wala, 21.15% DTI, 749 WaFICO, 71% Owner Occupied, with 60% GA originations. #104390 $13.23mm Scratch &.