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A Sign of the Times - Kevin Ahern/CT
9/15/2009 4:51:47 PM (3187 views)

[+] FANNIE MAE and FREDDIE MAC VIOLATING RESPA - Robert Franco/OH (3 replies)
9/15/2009 10:18:09 AM (4399 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 (5098 views)

[+] E & O Info: Thanks Robert! - Scott Olsen/NH (3 replies)
9/11/2009 10:47:44 AM (3721 views)

[+] County Clerk Fees - Ellen Maher/MI (14 replies)
9/11/2009 9:51:20 AM (3651 views)




[+] Unied States Title Corp Knoxville TN - Louise Jackson/SC (6 replies)
9/10/2009 9:12:43 AM (4687 views)

[+] MSNi - Constance Foye/VA (3 replies)
9/9/2009 9:04:37 PM (4457 views)

[+] Pro-Search, Inc. - Susan McKee/WV (1 reply)
9/9/2009 10:51:23 AM (4221 views)

[+] ALTA Policy Licensing Fees - Cheryl Hartzman/PA (5 replies)
9/4/2009 2:41:01 PM (5341 views)

J&L in TX - LAWANDA  MCMILLIAN/AR
9/3/2009 9:34:26 PM (3037 views)

[+] Accepting Credit Cards - Dan Zook/NY (5 replies)
9/3/2009 1:07:29 PM (3591 views)

[-] Experience closing short sales w/transactional funding? - Eric Michaels/IL (21 replies)
9/3/2009 1:03:46 AM (3802 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/10/2009 3:53:48 PM (4356 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/15/2009 2:24:40 PM (4326 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/17/2009 1:54:39 PM (5681 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 (4248 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/17/2009 7:58:09 PM (4342 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:18:49 AM (4413 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 9:27:37 AM (4180 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 4:59:39 PM (4240 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 6:51:17 PM (4162 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 8:57:45 PM (4260 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/19/2009 11:59:07 PM (4189 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 12:11:37 PM (4244 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:11:33 PM (4288 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:08:37 PM (4260 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 12:35:50 PM (4176 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:24:49 AM (4214 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:50:13 PM (4294 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 2:08:51 PM (4457 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/22/2009 12:30:13 PM (4501 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/22/2009 1:18:21 PM (4312 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
10/12/2009 12:28:55 PM (4370 views)

[+] selling searches - edward hartung/OH (8 replies)
8/31/2009 11:04:12 PM (4041 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3547 views)

[+] Cleary Title - Robin Ramberg/MI (1 reply)
8/30/2009 8:32:56 PM (4797 views)


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