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The private sector of our community has played an important role in funding loans that Banks and Savings & Loans are unable to make based on restricted guidelines, or loan amounts that are too small for their profit margin.
Our private lenders receive retail yields on their money above T-Bills, Certificates of Deposit, or Money Markets, as our client is the direct lender in place of the Bank or Savings and Loan.
Though the lender is the direct source, there is a definite need for the Trust Deed Investment Broker who screens both borrower and property with an emphasis on protective equity in the real estate offered as security for the loan in conjunction with capacity to pay.
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As a Broker arranged loan funded on a net yield basis; interest charged above the net yield negotiated by Broker (along with percentage splits on late charges and prepayment penalties) are retained as remuneration for ongoing expense and collateral responsibility accompanying each and every loan arranged by Martin Financial |
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We are presented with the opportunity to purchase existing loans in the market place as a result of seller carry-backs from private party resale of residences, commercial properties, as well as, bare land. We apply a screening process that is similar to our new equity loan originations, in addition, looking towards seasoning of the note, cash down on the original sale, and equity position. |
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| In addition to the Brokerage aspect of the business we have an Escrow Department and Loan Servicing Division as a part of our management services.
Including, but not limited to:
- Collection of borrower's payments
- Enforce terms & conditions of the Note & Deed of Trust
- Follow property taxes and fire insurance
- Accounting and income tax reports for Borrower & Lender
- Borrower counseling and assistance in refinance
- Trustee in event of foreclosure
A fee is charged for Loan Servicing. The Lender is always quoted a net yield (based on repayment according to terms) in order to make their Lending decision. (Martin Financial does not waive service fees).
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Often a prospective seller of a note chooses the alternative of pledging their note & deed of trust to our lender for a loan. The pledgor fully assigns right and title to the note & deed of trust (as in a discounted purchase) along with a pledge agreement promising to pay a defined interest yield. The pledgor must repay the loan in full in order to receive their note and deed of trust back. The payments on the note & deed assigned as collateral debt services the loan to the lender exclusively serviced through Martin Financial. |
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