- How do I register for LoanMLS?
Registration is quick, easy and free. Select “Register” from the top right of the home page. Enter your email address and select a Screen Name and a password. After registering, you may search and send email inquiries free of charge. Only your Screen Name will be shared with other members, so choose a Screen Name that will reveal as much or as little as you would like to other members. If you were given a promotional code, enter on this registration screen, and the credits will be applied to your account.
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- Who can join LoanMLS?
LoanMLS is an online exchange for loan professionals including, but not limited to, brokers, institutional investors, lenders, equity funds, community and commercial banks, equity or hedge funds, or individual sophisticated loan investors. The site is not intended for use by consumers or borrowers. There are no commissions and no registration fees. Loan asset sellers pay a listing fee of $20 to $50 depending on the visibility of their listing.
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- Is there a commission or fee to sell a loan?
There are no commissions to sell a loan. The only fee is an up front listing fee of between $20 and $50 depending on the visibility you would like to have for your listing. There are no middlemen and you may use any vendor to complete your transaction.
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- How do I email a seller about a listing?
If you haven't already done so, register for LoanMLS for free. After you log in, select "Buy A Loan." Click on any underlined headline to view the details of that loan. On the loan details page, click the “Send an Inquiry” link, type in a message, and click Send Inquiry. LoanMLS will send an email to the listing member. If you wish, you may also instruct LoanMLS to include your profile. If you have not completed your profile, you may do so by selecting the Account button once you have logged in.
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- How do I buy an existing loan, or fund a new loan?
Use the Buy menu and find a loan you would like to buy and the Fund menu item to find a new loan to fund. Refine your search and click on View Details. Click Send an Inquiry to make contact with the loan seller or loan originator. Once you and the seller have agreed upon a price, conclude your transaction independent of the LoanMLS site using attorneys, escrows or other vendors of your choice.
LoanMLS is not a site for novice loan buyers. Sellers of loans are restricted by state and federal securities laws from conducting transactions with independent purchasers unless they are properly licensed. If you are new to the loan business and wish to invest in trust deeds, please contact a licensed broker and have them conduct the transaction on your behalf. If you would like a referral to a broker, please email us at help@loanmls.com, and we will provide you with a list of registered broker members in your area.
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- How do I know if a buyer is qualified?
LoanMLS does not perform due diligence on buyers. Buyers are encouraged, but not required, to include their profile when emailing a request about a loan so you may learn more about them before you respond. Sellers should perform their own due diligence to ensure a buyer is financially and legally qualified to purchase or fund loan assets.
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- Where do I view my incoming requests?
Select the Inbox menu item which is at the top of most web pages after you login to LoanMLS.
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- How do I sort results?
Use the "Sort By:" drop down box on the loans display page. To get to this page, access loans to fund or for sale from the Buy menu. Once listings are displayed use the Refine Your Search box to refine your selections.
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- Explain how the Yield to Maturity (YTM) calculation works?
The Yield to Maturity is calculated exclusively by LoanMLS to help members determine the overall Internal rate of return achievable when purchasing the loan listed.
YTM may not be entered or calculated by the listing member and is only system generated by LoanMLS. YTM is designed as a useful tool for members to compare loans to each other and there is no guarantee of this return expressed or implied. If N/A is displayed, it indicates either the YTM could not be calculated, or the listing member opted to exclude this calculation.
Click on an underscored YTM, or a question mark by YTM for more about the criteria used to calculated the YTM.
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- Are there servicing restrictions on loans or pools sold?
Servicing rights are negotiated by the buyer and seller. LoanMLS has no specific requirements.
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- What are the definitions of the headings on the right side of the Search Results page?
Place your cursor over the underscored term and a definition of the term will open in an adjacent window.
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- How does a company advertise on LoanMLS?
There are several advertising opportunities available for vendors which serve the lending and loan sale industry. Please call us at 866-659-7579 or email service@loanmls.com for more information. You may also click on the Advertise link at the bottom of the home page for our rate sheet.
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- What is LoanMLS?
LoanMLS is a classified advertising site for loans — providing a central place for brokers, lenders, bankers, and investors to confidentially post or search for loan assets to buy, fund or sell. You pay only to post a loan to sell or a loan to fund — there are no commissions, registration fees or middlemen. Listings may be for an individual loan or pools of loans and may be for any type of loan: residential or commercial, secured or unsecured.
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- Does LoanMLS elminate the need for middlemen (i.e. brokers)?
No, in fact LoanMLS was designed specifically with Brokers in mind. Brokers serve a valuable place in the loan community and have a particular expertise in negotiating and managing deal flow. Just becausse a client may identify loan assets directly, doesn't mean they want to negotiate and complete the transaction on their own.
Think about a broker's role in a residential home purchase. Homeowners today have unprecedented access to the internet yet still use brokers to make offers because of the experience, expertise and value the broker's bring to the process.
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- How much does LoanMLS cost?
It is free to register and search listings to buy on LoanMLS. Members pay only to post a loan listing for sale of between $20 and $50 depending on the display upgrades chosen. To see a more detailed price list, click the Pricing button on the green main menu button after logging in.
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- In the loan to value equation, how is the value amount established?
The listing member (seller) sets the valuation. The seller also gives you their source of the valuation (BPO, appraisal, guess, etc.) and the date of the last valuation.
As part of your inquiry to the seller, you could ask more information about the value and request documents they used.
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- How do I access my free listings as a premium listing member?
Premium listing members get 4 free listings. The listings are automatically tracked by the system and when you go to pay for your listing, you will receive credit for up to 4 basic listings in the payment page.
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