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Glossary |
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• A Summary
Sheet summarizing the pertinent facts relating to
the Mortgage Investment. • An
Amortization Schedule showing the allocations of
annual principal and interest if the Mortgage is
paid in accordance with the terms of the Promissory
Note. In the case of Mortgages being purchased at a
discount, a separate Amortization Schedule will be
provided showing the calculation of value at the
stated yield to you. • A copy of
the Promissory Note and any Note Endorsements
thereto. • A copy of
the Deed of Trust and any Assignments
thereto. • A copy of
the Escrow Collection Agreement or Loan Servicing
Agreement. • Credit
information concerning the Payor of the
Mortgage. • Title
Information. On larger Mortgages this title
information will consist of a Mortgagee's Title
Insurance Policy issued by a title company.
However, on smaller Mortgages it may consist of a
print out of the Chain of Title and a Summary of
Documents recorded with the District Recorders
Office. • A copy of
the Insurance Policy if this is an improved
property. Upon closing, your interest will be
listed as a Loss Payee on the policy. • Value
Information. On larger Mortgages value will be
confirmed by a formal appraisal. In the case where
there was a recent sale of the property or where
the subject Mortgage was created as a result of a
sale, this information will also include a Closing
Statement for the sale. On smaller properties value
information may consist of a Broker's Letter of
Opinion, copies of Assessment Records, or our
explanation of our opinion of value. • Other
information deemed pertinent to an informed
investment decision. In addition to
the above information, we encourage prospective
Mortgage Investors to drive by and make an exterior
inspection of the property and request any other
information that they deem pertinent to their
investment decision. |
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