At a time when conventional mortgage companies are facing challenges, one company in the Conshohocken area is quietly thriving by buying privately held mortgage notes from consumers. The company, Deed Street Capital, has seen significant growth in recent years as it capitalizes on the demand for private lender liquidity.
Founded in 2017, Deed Street Capital has quickly established itself as a major player in the private mortgage note industry. The company specializes in buying private mortgage notes. These are notes created in seller-financed real estate transactions where the home seller is also acting as the lender. Deed Street offers liquidity to holders of private mortgage notes that are otherwise illiquid.
According to Deed Street’s COO, Jacob Neff, the key to its success has been its ability to offer more flexible and customized purchase options at levels well above the competition. “We understand that every note and situation is unique, and we strive to offer the lowest cost of capital to our clients”.
In addition to its focus on customized offers, Deed Street has also been able to capitalize on the increased demand for alternative lending options across the country. As traditional mortgage companies face challenges, borrowers are turning to private lenders as an alternative source of funding for their home purchases.
The company’s growth has not gone unnoticed. Investment firms and institutional investors have taken notice and are investing in the company as they see an opportunity to invest in a niche growth industry.
“We are excited about the growth prospects for the private mortgage business during this time of high-interest rates,” stated Deed Street’s COO Jacob Neff. “With traditional mortgage companies slowing down and laying off staff we are excited to enter a period of growth and look forward to adding to our talented staff.”
As National Mortgage News has covered the ongoing layoffs across the mortgage industry. Here locally, MoreThanTheCurve.com recently reported that Finance of America cut 101 jobs and closed its Conshohocken office.
The good news!
Deed Street is seeking to hire account executives and underwriters for our mortgage note-buying division. This is a fast pace, fun environment. If you have mortgage experience or looking for a career change, consider submitting a resume for review to: email@example.com.