Since 1996 APMC has focused on buying and selling pools of mortgages in the secondary market. In 2007, building upon our success, we expanded our focus and began investing in seasoned mortgages – Scratch and Dent Loans, Investor Fallout Loans, NPL and RPL.
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"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.
What Banks Offer No Doc Loans Do No Doc Mortgages Still Exist?. What Is A No Doc Loan? Pre-housing crisis, many lenders offered no doc loans to consumers who really had no way to repay them.. the bank statement loan is.
"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. If you can’t get the customer.
Reperforming Loan – RPL: A loan on which the borrower was behind on payments (delinquent) by at least 90 days but has resumed making payments. The payments that the borrower missed have not.
Real-estate insiders and financial players know it as “scratch and dent.” One of the biggest players in the. Neither did Bank of America, which holds many defaulted loans made by its Countrywide.
National mortgage consulting firm with a nationwide network to assist in placing your "Scratch and Dent" loan(s) Scratch and Dent Lending. 305.902.7211 Your Home for the Best Execution of Your Distressed Mortgage Portfolio. Sunshine Capital is an industry leader and private consulting firm.
Here’s something that might have escaped your radar during Christmas week – a mass downgrade of so-called `Scratch and Dent’ RMBS deals by ratings agency fitch. A Scratch and Dent mortgage.
scratch and dent loan n. a loan or mortgage that has become a risky debt investment, especially one secured with minimal documentation or made by a borrower who has missed payments. (source: Double-Tongued Dictionary)
Franklin is a Jersey City, New Jersey, specialist in “scratch-and-dent” loans, which go to borrowers with credit problems. Huntington became exposed to Franklin after acquiring Ohio lender Sky.
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What I think: This loan approval was more than a pleasant surprise. Those lenders typically sell the non-performing seconds for pennies on the dollar to what is known as “scratch-and-dent”.
No Doc Mortgage Texas The no doc mortgage does not exist in the same form that it had before 2008. great recession-era reforms require lenders to make sure the borrower can afford to repay a mortgage.