THE TRUST DEED INVESTING & MORTGAGE INVESTING PROCESS
Camden Investments focuses exclusively on whole notes. This means that we do not pool your funds with others during the investment process and you select and control the investment. This is a simplified explanation of what to expect when you’re looking to invest in trust deeds or private mortgages with The Norris Group.
1.GETTING STARTED WITH OUR NOTES
- Review the frequently asked questions and learn about investment in trust deeds and the overall investing process
- Call us to ask any remaining questions and to schedule an appointment to discuss how to move forward. W
2. A TRUST DEED OR MORTGAGE IS PRESENTED
- Camden sends out a list of available deals to our approved investor priority list.
- What we send for you to review:
- Property appraisal
- Property and some borrower information
- Overview of Note and Deal Terms (Term Sheet)
- Once you review and commit to a trust deed (CA) we will ask how you prefer to take title to the deed of trust or mortgage (also known as vesting)
- Camden Investment creates documents which we send you to sign including:
- Investment Bulletin
- Purchaser/Lender Disclosure Form (documentation does change depending on the state)
- Loan servicing agreement
- Any other relevant documents required by the Department of Real Estate in California as well as the Consumer financial protection bureau (NMLS).
3. COMMIT TO A NOTE INVESTMENT
After signing all documentations listed above, you can return everything via email or overnight service with a personal check or cashier’s check (cashier’s check not required). Wiring may be required for short-term deals where speed is important.
4. THE TRANSACTION CLOSES
Once escrow closes (deed of trust or mortgage is recorded at the appropriate County’s Recorder Office), you will receive a receipt along with copies of the following:
- Original Promissory Note
- Copy of the Recorded Deed of Trust or Mortgage
- Copy of the Title Insurance Policy
- Copy of the Fire Insurance Loss Payee
5. PAYMENTS MAILED TO YOU
On a monthly basis, our loan servicing partners collect the payments from the borrower and sends a check to you, the trust deed investor. This will continue to occur until the loan is paid off. Camden Investments also monitors property tax payments and insurance as part of servicing to insure that the borrower is not only carrying insurance but the proper insurance policy. In addition, annual paperwork and documentation is mailed to you for taxes at the beginning of the year.