Transaction mechanics
Six steps. No surprises in the middle of them.
Before anything. Ours or yours — we are not precious about the form. Nothing borrower-identifying moves before it is signed.
You send what you have, in whatever shape it is in. We come back with questions once, in a single consolidated list, rather than trickling them out over two weeks.
Typically within a week of a usable tape. In writing, per asset, with the assumptions we used stated so you can check our reasoning against your own marks.
Collateral file, title, lien position, payment history, legal posture. If something material differs from the tape we tell you what and why, with the document attached. If nothing does, the bid stands.
Yours. We sign it. Reps and warranties limited to what you can actually make — we are not going to ask a community bank to warrant the borrower’s future behavior.
Wire against delivery of the collateral file and executed assignments. Servicing transfer notices go out on the federal schedule. We handle recording.
From signed NDA to funding, a single asset with a complete collateral file can close in two to four weeks. A small pool takes longer, and the variable is almost never us — it is how quickly the file can be pulled, whether the assignment chain is complete, and how long your counsel takes with the agreement.
The most common delay we see is a missing intervening assignment on a loan the bank acquired years ago. If you know that is an issue on a particular file, tell us at the tape stage. It changes our diligence path, not usually our price.