In order to get a preliminary bid, you will need to provide us with data on the notes that you would like to sell. The tape should be provided in an Excel spreadsheet format. See out Data Worksheet for the specific information that we require to accurately evaluate your portfolio.
	Our preliminary bid is a strong indication of what we are willing to pay for the portfolio, but it is short of a firm commitment.
	A bid letter is prepared and signed by us and you. The bid letter identifies the portfolio of notes, states our bid, and allows us the exclusive right to perform due diligence on the notes in the portfolio
	For due diligence, we will usually an appraisal on the properties, pull updated credit reports on the note payors and review the documentation and pay histories.
	We will then discuss with adjustments (if any) in the initial bid that might have been caused by the results of our due diligence. If there is a significant adjustment, you may want to make changes in the notes that you are including in the portfolio. You will find that the more accurate the data is that you initially provide us, the lesser the likelihood of changes in the initial bid will be.
	A funding date is set and the loan sale agreement is executed. This agreement will identify the specific loans being bought, the price to be paid, the transfer date and an outline of the transaction details.

You pay an important role in the speed and execution of our due diligence on the sale of your portfolio. A sale will close on time if you have complete and well organized files. Adjustments in the initial bid are most often caused by overvalued properties, stale FICO scores, and undisclosed poor pay histories.

You may find that you get better pricing if you “bulk” your scratch and dent loans in the portfolio. The weighted average of the interest rates, LTVs and FICO scores may provide “lift” to your poorer loans and provide a better overall purchase price for you notes.