For over 30 years, TMAC has been an active capital markets participant in the closed whole loan space. TMAC does NOT originate or table-fund loans, but focuses on the acquisition of a range of previously funded loans that may include the following types:
Scratch and Dent Loans
Priced individually to develop a fair, acceptable price for each asset, in general these loans have been bounced back to the seller by a traditional lender because of some stated failure to comply with lender guidelines. Nevertheless , these loans have intrinsic value that TMAC recognizes and pays for.
Short term closed loans secured by residential, commercial and mixed use properties. These may include fix and flip loans, multifamily and other small commercial loan types, loans that are performing but have passed their maturity dates, loans secured by junior liens and other closed loans with unusual characteristics.
Junior Lien Loans
The CLTV must be low and the junior lien loan must be of significant size in relation to the senior lien loan.
States focused on are Florida, California, Texas.