A holder bringing a seller-carry note to the secondary market runs a documented preparation sequence against the buy-side due-diligence checklist. The steps below walk the preparation from the documentation audit through the closing on the sale.Step 1 — Run the file documentation auditThe audit [...]
The seven gaps below recur on a self-serviced seller-carry note brought to the secondary market. Each one creates a specific buy-side pricing penalty against the documented-file benchmark.1. Missing year-by-year Form 1098 reportingA self-serviced note where the holder never filed Form 1098 with the IRS [...]
A seller-carry note without documented servicing history sells at a discount on the secondary market — sometimes a double-digit discount against the unpaid principal balance. The discount runs against a structural gap on the buyer's due diligence: the buyer pricing the note cannot price [...]
A power of sale foreclosure on a seller-carry note runs through the deed-of-trust trustee on a documented procedural sequence. The steps below walk the framework from the borrower default identification through the trustee's deed recordation. Every step runs against state-specific timing and procedure that [...]
The questions below recur on power of sale foreclosure of seller-carry notes. The answers run against the state-specific non-judicial foreclosure framework, the §1024 RESPA servicing framework on residential consumer-purpose notes, and the state anti-deficiency rules.Who runs the trustee on a non-judicial foreclosure?The trustee is [...]
The two foreclosure frameworks on a seller-carry note run on different procedural mechanics, different timing profiles, different cost structures, and different post-sale risk profiles. The framework that applies to a specific note runs against the security instrument the holder recorded at closing and the [...]
This case study describes a composite scenario built from operational patterns that recur on self-managed power of sale foreclosures. Names, locations, and exact figures are illustrative rather than drawn from a single specific transaction. The facts below capture the failure mode and the cure.The [...]
The seven mistakes below recur on power of sale foreclosure of a seller-carry note where the holder runs the framework without a third-party servicer. Each one creates a procedural defect that voids the trustee's sale or extends the holder's exposure on the post-sale title [...]
Power of sale foreclosure on a seller-carry note runs through the deed-of-trust trustee under the state-specific non-judicial foreclosure framework. The trustee — a third party designated in the deed of trust — exercises the power granted by the borrower at origination to sell the [...]
A holder who has collected direct payments on a seller-carry note transitions to professional servicing through a documented file-handoff sequence. The transition runs the §1024.33 servicing-transfer notice to the borrower, the file reconstruction to origination, and the operational cutover to the servicer's system of [...]
