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A Sign of the Times - Kevin Ahern/CT
9/15/2009 4:51:47 PM (3155 views)

[+] FANNIE MAE and FREDDIE MAC VIOLATING RESPA - Robert Franco/OH (3 replies)
9/15/2009 10:18:09 AM (4365 views)

[+] Condo Owner finds out he's been living in and renovating wrong unit - Edward Huguenin/SC (3 replies)
9/13/2009 11:12:30 PM (5061 views)

[+] E & O Info: Thanks Robert! - Scott Olsen/NH (3 replies)
9/11/2009 10:47:44 AM (3678 views)

[+] County Clerk Fees - Ellen Maher/MI (14 replies)
9/11/2009 9:51:20 AM (3617 views)




[+] Unied States Title Corp Knoxville TN - Louise Jackson/SC (6 replies)
9/10/2009 9:12:43 AM (4657 views)

[+] MSNi - Constance Foye/VA (3 replies)
9/9/2009 9:04:37 PM (4427 views)

[+] Pro-Search, Inc. - Susan McKee/WV (1 reply)
9/9/2009 10:51:23 AM (4159 views)

[+] ALTA Policy Licensing Fees - Cheryl Hartzman/PA (5 replies)
9/4/2009 2:41:01 PM (5233 views)

J&L in TX - LAWANDA  MCMILLIAN/AR
9/3/2009 9:34:26 PM (2970 views)

[+] Accepting Credit Cards - Dan Zook/NY (5 replies)
9/3/2009 1:07:29 PM (3530 views)

[-] Experience closing short sales w/transactional funding? - Eric Michaels/IL (21 replies)
9/3/2009 1:03:46 AM (3739 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/10/2009 3:53:48 PM (4215 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/15/2009 2:24:40 PM (4182 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/17/2009 1:54:39 PM (5557 views)

No.  Transactional Funding occurs because you can't do that anymore.  No more "simultaneous" closings. 

If an investor is doing a flip where he is buying the property on a short sale or REO, and he already has another buyer lined up who wants to buy the property,  (Commonly called A to B to C transaction in the short sale world.)  he has to do back to back closings.  2 in a row instead of 1 simultaneous and each closing has to stand on it's own.  Money from the B-C transaction cannot fund the A-B transaction.  Many investors (B) need cash to fund the first transaction.  This is where Transactional Funders come in.  They fund the A-B transaction on behalf of the investor.  This is typically a 1 day loan and the fee is typically 1-2%.

I do want to be a Transactional Lender.  My understanding is that the contract is actually between the Trans Lender and the Title Co. handling both transactions.

  The agreement is that this money is used to fund the A-B and then paid back plus fee in the B-C transaction.  If the B-C transaction falls apart for some reason, the title company nullifies the A-B.

My question is just about the details of this contract between the Title Co and the Trans Lender. How is this done exactly?  Is it a simple side contract or is it something much more complex?

 

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Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/17/2009 4:24:02 PM (4108 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/17/2009 7:58:09 PM (4207 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:18:49 AM (4275 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 9:27:37 AM (4059 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 4:59:39 PM (4121 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 6:51:17 PM (4040 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 8:57:45 PM (4126 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/19/2009 11:59:07 PM (4060 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 12:11:37 PM (4098 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:11:33 PM (4138 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:08:37 PM (4097 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 12:35:50 PM (4052 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:24:49 AM (4089 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:50:13 PM (4135 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 2:08:51 PM (4088 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/22/2009 12:30:13 PM (4131 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/22/2009 1:18:21 PM (4106 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
10/12/2009 12:28:55 PM (4237 views)

[+] selling searches - edward hartung/OH (8 replies)
8/31/2009 11:04:12 PM (3963 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3480 views)

[+] Cleary Title - Robin Ramberg/MI (1 reply)
8/30/2009 8:32:56 PM (4724 views)


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