Leading National Homebuilder Utilizes Online Auction Website BigBidder.com to Sell Mortgage Notes
In a sign of the company’s rising prominence as a secondary marketing alternative, BigBidder.com®, the nation’s premier mortgage note auction website, will sell several residential mortgage notes for a leading national homebuilder. The decision to list mortgage notes on BigBidder.com® further illustrates the industry-wide need for an alternative asset sales strategy in today’s tough market.
“Traditional secondary market investors are staying on the sidelines, so this seller looked at a number of alternatives to sell these notes,” said Shawn Miller, Director of Sales for BigBidder.com’s parent company, LFC. “None could match BigBidder.com’s intuitive auction platform, broad exposure and unique ability to bring new buyers to the mortgage note market.”
Backed by over 30 years of auction experience, BigBidder.com® has emerged as the go-to resource for buyers and sellers of mortgage notes, whether they are residential or commercial loans, individual or pools. BigBidder.com® allows qualified investors and small investment groups to buy individual mortgage notes secured by real property from around the country, finally giving investors of all types access to the historically exclusive secondary market.
“BigBidder.com® has become a popular disposition solution for mortgage notes,” said Paul Lyons, Senior Vice President of BigBidder.com. “And this proactive move by a leading national homebuilder is the latest evidence of BigBidder.com’s rising acceptance among secondary market sellers and buyers, alike.”
Emphasizing transparency and simplicity, BigBidder.com® provides investors with comprehensive information on thousands of notes. Buyers have access to all of the resources necessary to conduct due diligence and can participate in the auctions from anywhere in the world. In addition, BigBidder.com ensures an open and transparent auction through an open, transparent and fair online bidding process that fosters competition and maximizes sales price.
BigBidder.com® — a member of the LFC Group of Companies
For more than 30 years, the LFC Group of Companies has served numerous Fortune 500 companies, real estate developers, investors, financial institutions and government agencies by auction-marketing thousands of commercial, industrial, land and residential properties with an aggregate value well in excess of $5 billion. The company’s latest venture is the online auction of Notes.
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