Scratch And Dent Loans
As it applies to mortgage loans, "Scratch and Dent" has come to mean any one or combination of ‘defects’ stemming from originations made outside a lender’s implemented credit guidelines.
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Since 1996 APMC has focused on buying and selling pools of mortgages in the secondary market. In 2007, building upon our success, we expanded our focus and began investing in seasoned mortgages – Scratch and Dent Loans, Investor Fallout Loans, NPL and RPL.
Titan Capital Solutions (TCS), a wholly owned correspondent investment subsidiary of mortgage services provider Titan Lenders Corp., is now purchasing lenders’ ‘scratch and dent’ loans. These are mortgages that have been rejected by the government-sponsored enterprises (gses) and private investors due to data, document and compliance errors with varying degrees of severity.
Nautilus Capital – a "scratch and dent" broker that we use to unload loans that won’t be purchased once closed from our investors due to defects or other issues sent this email out to its sellers today. Here it is in its entirety: Scratch & Dent Loan Pricing Will Continue to Decline
National mortgage consulting firm with a nationwide network to assist in placing your "Scratch and Dent" loan(s) Scratch and Dent Lending. 305.902.7211 Your Home for the Best Execution of Your Distressed Mortgage Portfolio. Sunshine Capital is an industry leader and private consulting firm.
“For scale we already have billions of dollars in loans flowing through our platform. Now that doesn’t yet make a dent in the 13 trillion of household debt out there, but we are excited to be growing.
Reperforming Loan – RPL: A loan on which the borrower was behind on payments (delinquent) by at least 90 days but has resumed making payments. The payments that the borrower missed have not.
"Scratch and Dent" is a real industry term. The approximate meaning is "loan with incurable defect." "Curable" is a real industry term and indicates something like a loan that closed with too little MI coverage (a kind of "bad stuff that happens"): you can "cure" that by buying more coverage. If you can’t get the customer.
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