Does A Mortgage Buyer Always Pull Credit?

2009 June 30

Pretty much always, even on very low LTVs. It really is no different than a lender considering anyone for a traditional mortgage. There are some differences though. The biggest ones are 1) A Mortgage Buyer can just his purchase price when buying a note, where for a traditional mortgage lender it’s all or nothing usually. 2) Many mortgage buyers don’t have minimum credit scores in order to purchase a private mortgage note and 3) A private mortgage buyer doesn’t ask to see income and asset documentation so they have to rely on credit and asset risk almost solely.

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