General Information

Navigating the Secondary Market

The “Secondary” or the secondary mortgage market is an interesting beast.  It is the place where loans trade for investment purposes.  Let us not confuse the secondary with the retail market.  The retail market is where a potential borrower shops to obtain a loan.  The retail market has a bit more structure and continuity than it’s counter-part, the secondary, as it is regulated to keep borrowers safe from misinformation and unscrupulous acts.  Many investors attempt to navigate the waters alone in the secondary and soon learn it is not all smooth sailing.   

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Whole Loan Mortgage (“Note”) Investing


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Today’s real estate and related asset market is an ever changing landscape of opportunities to participate in relative low risk good return investments.   The feature that most distinctly differentiates a whole loan mortgage or “note” investment from other investments such as bonds is the principal repayment method.  The timing and rate at which principal repayment occurs are major factors affecting a note portfolio or single note yield.   

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