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By Fuquan Bilal
Unlike first lien notes, servicing second lien notes requires less care as there is no requirement to maintain tax and insurance escrow accounts.
Regardless of economic conditions, there were, are, and always will be residential mortgages in default. While pricing is low today, so are Horne values. As the supply of defaulted mortgages decreases, pricing will rise and come into balance with rising Horne values.
Finally, there is a vacuum in private mortgage investment companies that perform the workouts and subsequent servicing of the mortgages. By simply searching the internet for “note companies” you will be hard pressed to find a self-contained buyer-workout-servicing company. Instead you will find brokers, brokers and more brokers. This is where the market recognizes and rewards the value of your company’s services.
Fuquan Bilal
Fuquan Bilal founded NNG in 2012 with the principal mission of capitalizing on the growing supply of mortgage notes in the interbank marketplace. Mr .Bilal utilizes his 17 years of residential and commercial real estate success to identify real estate opportunities and capitalize on them. To date, he has successfully managed three private mortgage note funds that primarily invest in singlefamily performing and nonperforming mortgage notes. His financial acumen and proprietary set of investment criteria enable him to purchase underperforming real estate assets at a deep discount of face and market values, thereby increasing the value of the assets. This, coupled with his ability to maximize the use of leverage, enables him to build strong, secured portfolios with solid passive income flows.
