OVERVIEW

1. In general, what types of pools are offered by PLS (classifications, regions, composition of home types/loan types, etc)?

PLS sells many different assets including, Residential REO assets, Non-performing first lien mortgages, individual portfolio fall out, Individual projects & more…

2. What are the key factors that go into the pricing of pools offered by PLS?

The price is determined by, Product type such as REO Vs Non-performing, property condition, location and additional factors that make up pricing.

POOL OWNERSHIP/VERIFICATION

3. What are the possible current ownership statuses of pools being offered by PLS?

Any pools that are available for purchase by PLS are either owned by PLS or under contract with funds in escrow.

4. How does a single purpose entity (SPE) ownership status impact the pool purchase process?

There are many advantages to an SPE, one of which an SPE will allow the transfer of the assets within the SPE & keep the cost of closing to a minimum. Please contact PLS with any questions you may have regarding a SPE purchase.

5. How can a prospective buyer verify the ownership status of pools being offered by PLS, and how early in the process can this verification be provided?

PLS is a direct buyer and seller, the ownership would be provided with the Reps & Warranties.

 

POOL TRANSACTIONS

6. How do Arpeggio Group and PLS work together in the pool transaction process?

AG has been contracted as an extended disposition arm of PLS. AG duties include but not limited to retail and wholesale liquidation of assets.

How does a prospective purchaser acquire a pool tape for a pool being offered by PLS, and what are the immediate next steps after receiving the tape?

The first process would be to get approved as a buyer (see buyer guidelines). Once approved you would follow our simple process.

1. Pool summary would be sent to our buyer list
2. An LOI would be submitted along with a Non-Disclose agreement.
3. A Login & password would be provided to review the tape (24hr look period)
4. After the 24hr look period PLS and buyer would go under contract along with a 10% deposit.
5. Due-diligence would begin with a closing date established. (all files would be provided on line for due-diligence for a streamlined process).
6. After due-diligent period ended a closing date would be affirmed
7. Deal closed.

8. My company receives so many non-circumvent & non-disclosure documents that we no longer sign them prior to reviewing pools. Does that preclude us from doing business with PLS?

PLS only requires a Non-disclose agreement to keep sensitive material proprietary.

9. My company prefers to review pools before providing proof of funds. Does that preclude us from doing business with PLS?

Potential buyers may review a summary of the pool from PLS before providing proof of funds.  However, we will not be able to show the full documentation of the deal until you have been through our approval process.

10. What constitutes an acceptable proof of funds from prospective buyers?

PLS would need Verification from an attorney and or statement from Financial Institution.

11. During buyer due diligence, can changes be made to pool pricing or the composition of the pool?

Yes, a final offer can be made within reason; however a back up buyer may be sought.

 

CLOSING & POST-CLOSING

12. How will a buyer close on pools with PLS?

Please refer to closing procedure on __________.

13. What representations & warranties does PLS offer on its pools?

Pools vary may vary regarding W&R and would be found in the contract and sales agreement; all may have different W&R so please refer to the contract regarding each pool.

14. How can PLS assist buyers with property disposition of their REO pools?

PLS has an extensive buyer base, along with tools that help streamline the process. If you would like PLS in assisting your company with disposition please contact us