Auction Co. Expands Secondary Mortgage Market to Individual Investors

Throwing out the traditional business-to-business model of buying and selling mortgage debt notes, Newport Beach, California-based ""BigBidder.com"":http://www.bigbidder.com, is exposing this widely undiscovered investment opportunity to a broader scope of investors.
BigBidder.com is the first-ever Website for auctioning notes online, offering open access to qualified investors to purchase individual or pools of notes secured by real estate. Through this online portal, investors can bid on mortgages, deeds of trust, and land contracts - non-performing, sub-performing, or performing - throughout the country.
The creators of BigBidder.com, the ""LFC Group of Companies"":http://www.lfc.com/about/lfcGC.asp, have spent decades in the ""commercial"":http://www.LFC.com and ""residential"":http://www.FRE.com online real estate auction businesses. The group has over 30 years of collective mortgage industry experience, resulting in more than $50 billion of loan sales. According to LFC, this success is reflected in the BigBidder.com design. In addition, LFC said the development team behind BigBidder.com diligently addressed security and privacy issues, instituting top tier policies and procedures, while creating a site that would benefit both buyers and sellers of mortgage debt notes.
Paul Lyons, SVP at LFC, explained, ""For years institutional firms and savvy investors have bought and sold notes for profit and to maintain cash liquidity. We’re breaking away from the traditional paradigm with this powerful tool allowing individual qualified investors and small investment consortiums to diversify their portfolios by investing in notes via a fair and transparent retail process.""
According to LFC, the transparent nature of BigBidder.com promises to revolutionize the current model with open and fair competition for buying notes. And with institutions facing immediate liquidity issues in the current market environment, the company explained that the ability to sell notes fast and at the highest possible price, means BigBidder.com is a much-needed solution right now.
John Kohler, managing director at ""12th Street Capital"":http://www.12stcapital.com, a secondary market investment firm specializing in mortgage-backed securities (MBS), said, ""BigBidder.com fills a void in the market for notes. The BigBidder.com business model is unique in the way it delivers price discovery to the individual investor, which is key to getting their participation. And I think institutional sellers will see BigBidder.com as an efficient way to reach that broader retail audience and improve liquidity in their product.""