Mortgage Vintage, Inc. is a private money lender providing capital to originate and purchase residential mortgages. Mortgage Vintage, Inc. makes loans on residential properties in the state of California, providing first and second trust deeds, refinances, and/or purchases. Mortgage Vintage, Inc. provides loans to borrowers that may not fit into the strict guidelines adhered to by conventional lenders. Mortgage Vintage, Inc. formed to respond to the needs of today’s technically savvy borrower that want and demand an efficient, low cost process and transaction.
Today we are offering “fractional trust deed” investments on residential properties. With a combined 50+ years of experience in due diligence, lending, mortgage technology, underwriting and mortgage brokerage, our stringent lending policies, key industry relationships, dedication to service, and superior investment returns, have made Mortgage Vintage, Inc. the preferred choice for brokers, borrowers and investors.
As a trust deed “owner” it means you become the owner of the Promissory Note which is secured by the Deed of Trust. After the deal is signed and funds are distributed, the borrower payments flow to the investor each month and when the loan is paid off the remaining principal is returned to the investor.
The Company uses FCI in Yorba Linda, Southern California to do all the loan servicing – see www.trustfci.com. FCI is the leader in private money servicing, have been servicing loans since 1982 and will, upon receipt of the borrower payment, send a check or electronically send money (Principal and Interest) to your bank account every month. You can also log onto the FCI system to see a history of payment, remaining principal balance etc. Sandy MacDougall, Mortgage Vintage, Inc.’s Managing Director, has been investing in Trust Deeds for years and been a client of FCI before starting Mortgage Vintage, Inc.
If for any reason the borrower defaults or stop making payments, FCI has a team to manage the REO process from end to end. They are very efficient, don’t fool around with late payments and file a notice of default immediately upon a missed payment. The private money world does not provide the grace periods etc. that Freddie/Fannie conventional lenders do. The security for your investment is the property asset. So at the end of the day, make sure you are comfortable owning the house you’re lending against for the loan amount you provide. Of course, Mortgage Vintage, Inc. will work closely with FCI to ensure a successful foreclosure and asset recovery. There has never have been a better time to be a private money lender, since at today’s prices on the homes we are lending on are at significantly depreciated levels and would yield 10%+ as rental properties in the unlikely case we need to take back the properties.
Mortgage Vintage, Inc. is different from traditional “hard money” lenders, since we do review income and assets and document a borrower’s ability to pay the monthly amount. Most “hard money” lenders take a “don’t ask” attitude, which is too aggressive for us. We don’t want to be in the business of owning homes, we just provide short term financing to those experienced enough to understand the value of having a non-traditional financing option and who can make the payments. Remember Goldman Sachs and GE both had to pay Warren Buffet 10% to borrow money and provide equity options as incentive for him to lend. Credit is incredibly tight in this current market and there are lots of investors, business owners who will gladly borrow at 11%-14% short term to take advantage of market opportunities.
Mortgage Vintage, Inc.’s well defined strategy of providing prime California investment opportunities, expert evaluation, precise execution, and our ability to provide superior returns for our clients, is the core of our success, and the foundation of our growth.
Mortgage Vintage, Inc. services a growing community of real estate brokers, attorneys, accountants and business managers who seek professional help for their clients. Mortgage Vintage, Inc.’s technology facilitates a collaborative environment that expedites the loan process. From loan advisors to escrow officers to loan servicing, there is only one goal. CLIENT SATISFACTION.