brettpeerstreet

5 ms·

1. 1.▲
   by brettpeerstreet 9y ago

   PeerStreet handles the workout situation. Foreclosure fees are applied against gain on sale, which is why PeerStreet has kept LTV (loan to value) under 75%.
2. 2.▲
   by brettpeerstreet 10y ago

   PeerStreet has had zero losses, but these are asset backed loans with first position liens, so if a borrower were to stop paying then generally the property would be foreclosed on and principal and interest would be repaid from the proceeds
3. 3.▲
   by brettpeerstreet 10y ago

   These are first position liens on business purpose, non-owner occupied properties. Often these are fix and flip or buy to rent properties.
4. 4.▲
   by brettpeerstreet 10y ago

   Great points, that's why conservative underwriting and low LTV (loan to value) ratios matter so much. Look at PeerStreet deals, they are 75% LTV and under with a site wide average of 63% LTV. Every deal that goes up is stress tested ag
5. 5.▲
   by brettpeerstreet 10y ago

   These are business purpose, first position loans on non-owner occupied properites. This industry has been around forever, but have been very hard for most people to access. PeerStreet is changing that. And also allowing for diversification