National Association of Note Buyers
Before you sell your note or mortgage, check that the buyer is a member of the National Association of Note Buyers.
Beware the late night TV scam artists. I'm sure you've seen the TV ads. Some smoothie selling note buying schemes and dreams and introducing a bunch of people who claim they're making $10,000 to $50,000 a deal in the note broker business.
Some of these note broker instructors are currently facing charges by the FTC.
The sad fact is that note brokering is just about the only part of the real estate business that is almost totally unregulated. So it's hardly surprising it attracts a few cowboys.
Do you want to do business with someone who is required to prove their competence, their experience and subscribe to a code of ethics?
Then first ask them if they are a member of this National Association.
Note brokers reading this. You know as well as we do that 90% of so-called note brokers are simply not competent or ethical. So stand out from the crowd and join the National Association of Note Brokers.
Entry to our association requires:
bullet Knowledge. Passing an exam of the applicant's knowledge of the note-buying process.
bullet Experience. We require all applicants to supply the names and phone numbers of clients from whom they have bought mortgages so we can verify how they were treated before we allow them to join.
bullet Ethics. Adherence to our strict code of ethical behavior.
Please report to us immediately any member you deal with that you feel did not treat you honestly and with respect.
Look for this logo on the website of any note broker/ note buyer you find on the Internet. National Note Buyers Association
If you click on the logo in a member's website, it will take you to their listing on this site so you can verify they are in good standing. If clicking on the logo does NOT take you to this site, they have stolen the logo and are NOT members. Please report any instance of this to legal@notebuyers.org.
Click here to learn how to join the NANB.
We also recommend note buyers and sellers visit Mortgage-Investments.com, which is an excellent reference and educational site, plus you can advertise your note or mortgage for sale there FREE.
Our Mission
To help the public deal with reputable, experienced, honest note buyers.
Please note: The National Association of Note Buyers and NANB name and logos are copyright to us. They may only be used by approved members in good standing. We prosecute aggressively any unauthorized company or individual who displays our name, logo or claims to be a member when they are not.
Thursday, October 4, 2007
Note Buyers
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