LoanMarket.net - California's Largest Marketplace for Whole Loans

HOW DOES LOANMARKET.NET WORK?

Buyers of notes define their search on LoanMarket.NET, targeting suitable opportunities.

A list of notes meeting the specified criteria then enables the buyer to further refine his/her search, or drill down into the detail of each individual note. Instantly upon registration and login, the buyer is able to see the diligence materials associated with each individual note, including:

• The Current Market Value (CMV) of the underlying property (pulled within 14 days of posting on LoanMarket.NET)
• A Photo of the property (taken within 14 days of posting on LoanMarket.NET)
• The Note
• The Deed of Trust
• The Title Policy
• Evidence of Homeowner's Insurance

If the buyer is interested in bidding, LoanMarket.NET will contact the buyer and determine suitability and proof of funds. Once approved, the buyer is able to bid on notes. If a buyer submits a winning bid, LoanMarket.NET will commence escrow through First American Escrow and Title.

The seller is responsible for the third party closing costs, as well as full payment of the LoanMarket.NET sales commission of the greater of $1,000.00 or 0.95% of the final sales price and $495 closing processing fee.

The buyer is responsible for a buyer closing processing fee of $495 per asset.

Sellers of notes must register and login. A listing fee of $200.00 is charged to the seller. This fee will enable the seller to list a single note for up to 90 days. The seller is then walked through the listing process online, or with the help of LoanMarket.NET's customer service team.

The following information is provided by the seller:

• General Information About the Property and Loan
• The Note
• The Deed of Trust Evidence of Homeowner's Insurance
• The Title Policy
• All origination information
• Any current informaiton including servicing, borrower credit, and other color on the borrower and or collateral.

 The following information is provided by LoanMarket.NET:

• The Current Market Value (CMV) of the underlying property or collateral
• A Photo of the property (taken within last 90 days)

The information provided by LoanMarket.NET takes up to 7 working days to obtain from various vendors. As soon as the listing is complete, and all information is verified, LoanMarket.NET will list the note, notify the seller, notify potential buyers, and the listing will be published on LoanMarket.NET and available for sale.