Loan
Sales
Midwest
First Financial, Inc. does not currently have any loans for sale. However, we have
multiple REO properties for sale. Call our office at (402) 330-2274 for
details.
The
Process...
Unless otherwise stated, all loan(s) are sold with no representations
and no warranties, express or implied.
- Property Type
- Property Address
- Lien Priority
- Unpaid Principal Balance
- Monthly P & I Payment
- Next Payment Due Date
- Interest Rate
- Next Rate Change (if applicable)
- Index and Margin (if applicable)
- Maturity Date
- Original and Remaining Term
- Appraisal/Broker Price Opinion
- Loan-To-Value Percentage
- Potential buyer will review the
loan(s) spreadsheet and place an indicative bid on the loan(s), subject to
due diligence.
- Buyer to submit a written Letter
Agreement to
- Buyer’s obligation to
consummate the transaction shall be subject to, and conditioned upon, the
following, any of which may be waived by Buyer in its sole and absolute
discretion:
-
Buyer’s
completion and approval of a due diligence review of all matters relating
to the loan(s), including the actual loan files.
-
The execution by
Buyer and Seller of a comprehensive Mortgage Loan Sale Agreement
incorporating the terms of the Letter Agreement and such other terms as
may be reasonably acceptable to Buyer and Seller.
-
Buyer has the
right to reject and/or re-price any Loans whose characteristics deviate
materially from the information that has been provided to Buyer. Seller
may reject entire sale if it does not agree with rejected or re-priced
loans.
- On the closing date, in a
substantially contemporaneous closing, Purchaser shall pay to Seller the
Purchase price, via wire transfer of immediately available funds, and the
Seller shall sell, assign, convey, transfer and deliver to Purchaser, with
respect to the purchase of the Mortgage Loan sold, the following
documents, subject to the approval of Purchaser and its legal counsel as
to proper form and execution: (i) the Mortgage Note, or original Lost Note
affidavit acceptable to Purchaser, including all assignments and modifications
thereto, properly endorsed by Seller in accordance with applicable laws
and regulations; (ii) the Mortgage, including all assignments and
modifications thereto, or certified copy acceptable to Purchaser,
accompanied by those documents and instruments necessary to record and
perfect ownership thereof in Purchaser, including separate assignments of
rents, if any; (iii) the Files; and (iv) otherwise take all steps
necessary to transfer and warrant absolute title and ownership of the
Mortgage Loan to Purchaser. Upon confirmation that the Purchase Price has
been received by Seller’s designated financial institution, the
Files shall be mailed overnight directly to Purchaser or its designee, for
next day delivery at Purchaser’s cost, direction and liability.
Are you
interested in purchasing REO properties from Midwest First Financial,
Inc.? If so, send us an E-mail at
MFFI@mffi.com or contact us directly using the information below so that we
may send you a confidentiality agreement.
Home About Midwest
Acquisitions
Real Estate Opportunities
Bill Preston or
Mike Preston
(402) 330-2274 Fax (402) 330-6416
Contact
Webmaster:
mpreston@mffi.com