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Total Unpaid Balance of Loans  $43,317,731
Total Dollar Amount of Bids   $144,972,215

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

NYT: Auctions for Troubled Property Loans Jump to the Web

Published on 2009-04-24

By JOHN COLLINS RUDOLF

It is not a game for novices or for anyone lacking courage. But for investors with the right expertise and a serious appetite for risk, the credit crisis is shaping up as a once-in-a-lifetime chance to buy troubled real estate assets on the cheap.

A brisk trade in some of these assets is already under way, with investors buying and selling billions of dollars in distressed bank loans backed by collateral like homes, land and commercial properties. Many of these problem loans trade on eBay-like auction Web sites, which have grown rapidly over the last year.
 
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Dow Jones: New Trading Platform For Mortgage Securities To Launch May 1

Published on 2009-04-21

New Trading Platform For Mortgage Securities To Launch May 1       

By Kate Haywood
Of DOW JONES NEWSWIRES
21 April 2009
 
 
NEW YORK (Dow Jones)--A new trading platform for mortgage securities that have been gumming up banks' balance sheets is set to go nationwide next month.
California-based LoanMarket.NET plans launch an online marketplace for buying and selling real estate-secured note investments on May 1, according Jeff Freud, the firm's founder and president. LoanMarket.NET launched the trading platform in California earlier this month. The aim is to bring some liquidity, and pricing transparency to this traditionally opaque market ahead of government's proposed plan to help private investors buy these loans and securities from banks.

 

     read full article

Webware Radar: LoanMarket's mortage hub

Published on 2009-04-06

 
LoanMarket.net announced on Monday that it has launched its online marketplace for buying and selling mortgages.

According to the company, its service allows both buyers and sellers to come together in a "neutral, open marketplace" to trade mortgages and other real-estate secured note investments.

The site has a variety of sellers, including mortgage originators, banks, and lending institutions, mortgage pool investors, small private investors, and seller carry-back note holders. All the notes listed on the site include current market value information, as well as a photo of the property taken within 14 days of the post. All vital loan documentation, such as the note, deed, and title will also be included in the listing. The site is live now.

Vertical ad network Glam Media raised $10 million in a round of funding that was led by Mizuho Bank, the company announced Monday. According to the company, it will use the funding to continue its expansion in the United States, and grow its operation in Japan and Germany.

Glam Media also announced on Monday that it has formed a joint venture with agencies and media companies in Japan. Dubbed Glam Media Japan, the venture combines the country's third-largest advertising agency, Asatsu-DK, and a variety of other Japanese firms with Glam.

Revolution Money, a company that helps users reduce the cost of credit cards online, announced on Monday that it has raised $42 million in a Series C round...      read full article

LoanMarket.NET: An Online Marketplace For Buying And Selling Loans

Published on 2009-03-26

LoanMarket.NET: An Online Marketplace For Buying And Selling Loans
 
Published on:Thursday, March 26, 2009
 
Written by:Brad Zimmerman
 
A California web based company; LoanMarket.NET is looking to capitalize on the mortgage market in a rather interesting way, utilizing the web to transact mortgages and provide market information on loans and notes like never before.
 
For those interested in selling which can be anything or anyone from banks, private equity funds to individuals, LoanMarket.NET makes it easy to post real estate secured promissory notes and all the pertinent information via a step-by-step guide. This includes appraisals, loan documentation, deeds of trust and even proof of homeowners insurance, among other things. LoanMarket.NET secures all of the paperwork necessary for each property, to increase transparency and ease the buying and selling process.
 
LoanMarket.NET works with The First American Corporation to provide a property profile and an analysis of current market value, as well as a picture.
 
“This high level of specific information and documentation allows bidders to adequately underwrite a loan’s risk and bid toward the yield they would require in order to invest” –LoanMarket.NET 
 
Buyers must be approved by LoanMarket.NET and provide proof of the ability to close. As always with important financial decisions, LoanMarket.NET encourages buyers to consult appropriate counsel before finalizing anything.
 
In this market pools of loans are being purchased for nearly 20 percent of their original face value and being sold individually for 10-30 percent more. There is...      read full article

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FEATURED LISTINGS

State: Illinois
Listing Price: $55,000
Lien Position: 1st
LTV: 42.31%
Note Rate: 11.875%

State: California
Listing Price: $0
Lien Position: 1st
LTV: 52.38%
Note Rate: 9.35%

State: Arizona
Listing Price: $0
Lien Position: 1st
LTV: 31.25%
Note Rate: 4%

This listing has been limited to only our Approved Bidders.


To become an approved bidder, please contact Loanmarket.net directly for more information.


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