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General Questions

  1. What is FCI EXCHANGE?
  2. Who can use FCI EXCHANGE?
  3. What types of Notes are listed?
  4. Where can I find Terms and Conditions of Sale?
  5. How do I register?
  6. Is there a registration fee or a fee to list Notes?
  7. Is there a fee to sell a Loan?
  8. What role does FCI EXCHANGE play in the transaction?

 

Buyer Questions

  1. Can I contact the seller to get more information?
  2. How do I know if a seller is serious and legitimate?
  3. How can I verify that a property actually exists?
  4. Is there any way you can provide me with the Borrower’s or Seller’s information?
  5. How long can I expect to wait for the seller to respond to my offer?
  6. Can I get some more information on a particular Note or Pool?
  7. Does FCI EXCHANGE provide Excel sheets of the notes or pools listed on the site?
  8. I am looking for specific types of Notes i.e. Senior Performing Notes in California, can you assist me in finding them?
  9. What is "My WATCH LIST"?
  10. What is “My Product Alerts”?
  11. Can I cancel an offer after I've placed it?
  12. How can I keep track of my offers?
  13. If my offer is accepted by the Seller, may I then change it or cancel the transaction
  14. What happens after my offer is accepted?

 

Seller Questions

  1. How do I know if a buyer is serious and legitimate?
  2. Do you list REO’s?
  3. Do you have investors who are interested in Notes in my particular region?
  4. How can I make my listing appear more prominently?
  5. Can I list a pool of Loans for sale?
  6. How do I update a listing status?
  7. Can I list my portion of a fractionalized Note for sale on FCIExchange.com?

 

General Questions

  1. What is FCI EXCHANGE? FCI EXCHANGE is a trading platform where Buyers and Sellers of mortgage Notes can get together and have the entire Buy/Sell process supervised by a qualifed staff who understands compliant trades.
  2. Who can use FCI EXCHANGE? Anybody is welcome to use FCI EXCHANGE; it’s a very user friendly website with easy to follow detailed instructions.  FCI EXCHANGE is here to help anyone from a novice to an expert Buy and Sell Notes with confidence, quickly and compliantly.
  3. What types of notes are listed? Most any type of Note can be listed including 1st and 2nd position, Performing, Non-Performing, and Newly Originated Mortgage Notes and Loan Pools.
  4. Where can I find the Terms and Conditions of Sale? Terms and Conditions of Sale can be found at the bottom of the Login screen or by clicking the link above.
  5. How do I register? You simply clicking “Register” at the top of any page and filling in all the required fields.  You will then receive a confirmation email with your chosen Username and Password.
  6. Is there a registration fee or a fee to list notes? No, registration and listing Loans is free.
  7. Is there a fee to sell a loan? There is only a Listing Processing Fee when a transaction is completed; the fees for both Buyers and Sellers can be found under the How to Buy/Sell Notes tab on the left hand side of your screen or at the following links: Buyer Listing Processing Fee and Seller Listing Processing Fee.
  8. What role does FCI EXCHANGE play in the transaction? FCI EXCHANGE website allows the Buyer and Seller to complete transaction; we work to ensure that both the buyer and the seller are responding in a timely manner to keep the transaction moving.  We also assist all parties in coordinating the documentation and money as agreed upon for the sale.

Buyer Questions

  1. Can I contact the seller to get more information? The only way to contact the seller is through the website; dialogue is opened when you place an offer.  There is a comment box on the Place an Offer page where you may leave comments and questions which are sent to the seller upon approval of your proof of funds.
  2. How do I know if the seller is serious and legitimate? FCI EXCHANGE has a detailed Note listing and Quality Control process in place where each loan listed must give relevant information and attached copies of relevant documents including Notes, Deeds or Mortgages, and Assignments.  Each listing is reviewed for accurate information and documentation.
  3. How can I verify that a property actually exists? It is recommended that a buyer perform their own due diligence on the property before placing an offer on the Note; also attachments of a copy of the Note and Deed are standard on most loans.
  4. Is there any way you can provide me with the Borrower information or the Seller’s information? No, for privacy reasons we do not disclose the borrower’s name or the seller’s name until further along in the process.  Both the borrower’s name and the seller’s name will be revealed during the closing process.
  5. How long can I expect to wait for the seller to respond to my offer? The seller is given 2 business days after we receive your proof of funds to respond to your offer. After that, a reminder email to respond to the offer is sent out to the seller once a day.
  6. Can I get some more information on a particular Note or Pool? FCI EXCHANGE serves solely as a platform to bring buyers and sellers together and to monitor the Buy/Sell process.  Any information posted on the site is at the discretion of the seller.  As part of standard due diligence, we encourage buyers to check the property value since there is no way to verify the validity of the seller’s valuation.
  7. Does FCI EXCHANGE provide Excel sheets of the notes or pools listed on the site? No, this is an interactive website in which the buyer and the seller communicate exclusively through the site, and it is designed to display all of the information provided by the seller.  Therefore, all of the information that would be provided on an Excel sheet is already available on the site at all times.  We can not provide Excel spread sheets that unscrupulous brokers might repackage and market as their exclusive listings. 
  8. I am looking for specific types of notes, i.e. Senior Performing Notes in California.  Can you assist me in finding them? The beauty of the FCI EXCHANGE is that everything available is clearly listed and there are search functions at the top of the listings page that allow you to select just the listings you are interested in.  In the example above, you would go to Performing notes, select Lien Position as 1st position, and the State as California.  The site will then show only senior position performing Notes in California.
  9. What is "MY WATCH LIST"? Please refer to the Products and Definitions Tab on the left hand side of the screen for a complete explanation of “My WATCH LIST”
  10. What “My Product Alerts”? Please refer to the Products and Definitions Tab on the left hand side of the screen for a complete explanation of “My Watch List”
  11. Can I cancel an offer after I've placed it? Yes, you may cancel any offer you place as long as you have not yet signed the Purchase and Sale Agreement. Once the Purchase and Sale Agreement is signed, the offer becomes binding.
  12. How can I keep track of my offers? The best way to keep track of your offers is by clicking on the My Offers tab on the left hand side of the screen.  There your offers can be sorted by those that are pending, those that have been countered, those that have been cancelled etc.
  13. After my offer is accepted by the Seller, may I then change it or cancel the transaction? No, you may not change your offer, however you can cancel the transaction if you have not yet signed the Purchase and Sale Agreement.  You then could go back and place a new bid on the same note if you wish.
  14. What happens after my offer is accepted? After your offer is accepted a Note Purchase and Sale Agreement is sent to both the buyer and seller to sign.  The rest of the process can be found in the Transaction Summary.

Seller Questions

  1. How do I know if a buyer is serious and legitimate? FCI EXCHANGE requires that buyer’s first register, then submit Proof of Funds in the form of a bank statement, current financial institution statement, or a Letter of Credit from a financial institution showing funds available that cover the amount they are offering on the Note.
  2. Do you list REO’s? No, FCI EXCHANGE does not list REO’s; the site is strictly for trading Notes. In the event a Note listed individually or in a Loan Pool becomes an REO before a trade is completed, the Note must be removed from the website. FCI EXCHANGE is a Note trading platform only.
  3. Do you have investors who are interested in Notes in my particular region? We serve as a platform that brings buyers and sellers together from anywhere in the country.  We have visitors and registered users from all over the United States, and Notes listed in almost every state.
  4. How can I make my listing appear more prominently? You can make your listing appear more prominently by using the Diamond Loan Program which will place a Diamond FCI logo next to your listing. For more information regarding the Diamond Loan Program please go to the Products and Definitions Tab on the left hand side of the screen.
  5. Can I list a pool of loans for sale? Yes, we will provide a spreadsheet for you to fill in with the proper information, or you can send us the tape of your pool and we will load it onto the site.
  6. How do I update a listing status on a Note I have for sale? You can update a listing status on a particular Note of Loan Pool by going to “My Notes for Sale”, clicking on the product ID, and clicking the Edit This Product box on top.
  7. Can I list for sale my portion of a fractionalized note? No, a fractionalized portion of a note cannot be listed on FCI EXCHANGE. The entire Note can be sold if you have the consent of all other parties listed as beneficiaries on the note. 

Use of this Web site constitutes acceptance of FCI EXCHANGE Terms of Use for Trading on This Site and the Website Usage Terms & Conditions
8190 E. Kaiser Blvd, Anaheim Hills, CA 92808 | Phone (800) 931-2424 | BRE # 01022780
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