Bayview First Funding, a subsidiary of Bayview Financial, will no longer be accepting new submissions for seller financed mortgage purchases through its Texas based note buying division, effective Friday August 1, 2008.
Formerly known as Interbay Funding, this company was introduced to the note buying community in 2001. With competitive pricing and access to securitization funds, Bayview quickly became a preferred national institutional note buyer for full private mortgage purchases.
Unfortunately, the seller financed private mortgage business has not been immune to the effects of the credit crunch resulting from the sub prime mortgage crisis. We are seeing a move towards private investors, portfolio lenders, and pension funds. These types of companies tend to hold their notes for long-term interest income rather than relying on a quick resale to the secondary securitization markets.
Thanks for you comment and question. The primary purpose of this blog site is to provide educational information. If you have a note to sell my suggestion is to either 1) work directly with an investor or 2) work with a qualified note broker that is working directly with the investor. The challenge with posting notes is verifying you or the broker is direct with the investor. If you would like assistance obtaining pricing on a note please feel free to visit our note buying sites: http://www.noteinvestor.com or http://www.diversifiedinvestment.com.
Your website is informative. However can you acutually post notes
for sale?