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10 Listings with Premium Membership08/16/11

The LoanMLS Premium Membership program now includes 10 listings with the membership.  In addition, premium members receive 10 MB of due diligence document storage storage space, additional photos, discounts on upgraded products and valuable inbox management features.

Even though the number of listings has increased from 4 to 10 included with the membership, the price remains the same.  Premium Listing Membership prices are between $59.99 and $79.99 per month, depending on how the service is paid for (monthly, quarterly or annually).

To upgrade to a premium membership, just log in, and select the Account Menu, then “Membership Plan – Upgrade or Change.”

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Visit us at MBA’s National Secondary Market04/22/11

LoanMLS will be an exhibitor (booth #308) at the MBA’s National Secondary Market Conference & Expo on May 1-3, 2011 in New York.

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Premium Listing Membership – Rich with Features08/31/10

Save time and money posting your loans.   We are pleased to announce the launch of our new Premium Listing Membership — developed specifically to provide regular loan listing members like you with valuable discounts and added features to help you more effectively sell your loans.

The following video is from the LoanMLS creator, Martin Goodman who recounts several of the features.

The premium listing membership has all the benefits of the premium search membership.  Plus, the following features:

Free Listings Every Month – receive 4 FREE listings each month – equals $80 a month in savings which more than covers the cost of premium membership.

Discounts on Upgraded – receive a 25% discount on all upgrades and wanted ads.

Upload Due Diligence Docs – upload up to 10MB of files for Premium Searching Members to view, allowing them to better evaluate your loan.

Upload More Photos – upload up to 4 photos for each of your listings.

Manage Your Inbox– create folders and notes in your LoanMLS Inbox to better organize your inquiries and responses.

In addition, we have also developed a Premium Searching Membership for buyers/investors which includes 48-hour advance notice of new listings, exclusive access to “premium member” listings, access to due diligence documents, and 25% off wanted ads.  ALL of these benefits are also included in our Premium Listing Membership.

If you list loans regularly with us, this upgrade will be well worth your while and starts at just $69/month..

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Many New Features Added08/10/10

Many new features were added to LoanMLS in the latest release which went live August 9, 2010.
The features were integrated into a membership structure to benefit our most frequent users.   
Two premium membership programs were established: one for searching and one for listing.
A comparison of the memberships can be seen by clicking the Pricing button, then learn more. 

The Premium Searching members receive the following benefits:

Advanced Alerts – up to 48 hours in advance
Seller Contact Info
Access to Uploaded Due Diligence Documents
Access to listings specified for Premium Members only.
Inbox Management features including file folders

Premium Listing Members:

4 Free basic Listings
25% Discount on all listing upgrades
Upload 10MB of docs for each listing
4 photos to display

Basic memberships are still available free of charge. If you wish to upgrade your membership,
log in, and select Account > Upgrade or Change Membership plans.

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LoanMLS Etiquette and Site Policing05/06/10

The LoanMLS network has grown rapidly and we are aware that there are members who are sending
inappropriate inquiries, and/or spamming other members with sales-like inquiries.   We wanted to let you know we are aware this is going on and have assigned a staff member to review all inquiries daily so we may better police the site for our members.

The quality of the membership is important to all of us and we appreciate your support.   The article on LoanMLS Etiquette can be found at:  http://blog.loanmls.com/loanmls-etiquette/

Selet the underscored to view hard money lenders lists or list of lenders who make rehab loans.

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May, 2010 Bulletin04/30/10

LoanMLS continues to evolve thanks to the numerous suggestions from our members.    This site is still the only truly independent, commission-free loan exchange online.   Our mission is to serve our members with the best quality, easiest to use system which generates quick and qualified responses.  Please continue to send us your feedback.

Wanted Ads

The newest feature launched last week is Wanted Ads.   Wanted Ads give investors, borrowers or brokers the ability to post a general ad vs. an listing to sell a specific loan. For example, you may be looking for a particular type of loan or pool of loans in a particular market.  A member may have the asset(s) in inventory, even though they do not have it currently listed on LoanMLS.   The Wanted ad is a great way to reach our 4,000 loan professional member base.  To use the wanted ad feature, log in and click Wanted Ads – Search or Wanted Ads – Post from the main welcome menu.  Wanted ads run for 30 days and may be upgraded to appear in the Priority Listings or Featured Listings section.

PrivateMoneyLendingGuide

We are pleased to announce the beta release of our sister website, the PrivateMoneyLendingGuide.com.   This site is educational based and provides in depth articles to two audicences: Borrowers and Investors.   Borrowers are educated about obtaining private money, or hard money loans including topics such as Private Money Lending 101, How to Negotatiate the Best Deal, and Hard Money FAQs.  Investors are educated about the ins and outs of investing in hard money loans and contains topics such as Calculating the IRR of discounted loans or non-performing loans, hard money foreclosure issues.    Contained within both sites is a directory of private/ hard money lenders and loan investment advisors.  If you or your firm is interested in being a directory participant, and/or contributing content, please email marty@loanmls.com.

Link to Us

We have had many requests asking how to link to our web site.  Please feel free to do so.  We added a link to us page with html code and LoanMLS icon which you can cut and paste onto your web site.

Feedback on Other Members

To maintain the integrity of the site, please report inappropriate behavior using the feedback feature.   Our feedback system works similar to the successful ebay system.
In the Listing Details of any listing select the Give Feedback link and quickly report positive, neutural or negative feedback.   To see feedback given to you by other members, login, and go to
Account Menu, then View Feedback.

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Interview: “…The Future of the Private Money Industry”03/31/10

“The Future of the Private Money Industry”

 An Interview with Robert Hardy, Capital Benefit Mortgage

 LoanMLS is truly changing the way private money loans are bought and sold and allowing companies to expand beyond their personal networks to reach potential investors across the country.  Robert Hardy of Capital Benefit Mortgage shares his experience with LoanMLS and its impact on the future of the private lending industry.

Q:  Tell me a little bit about your company.

We are a private money lender, licensed in California.  We originate and service new loans, funded by private investors.  90% of our loans are residential with a large number of loans in the REO market purchased as investments or as rental properties. 

Q;  What types of notes are you posting on LoanMLS?

We sell residential 1st TDs with LTV of 55% or less and investor yields of 10 – 13%.

Q:  Have you found that certain notes receive better response than others?

As you’d expect, we see greater response on our more attractive loans.

Q:  How do you screen potential buyers/investors who contact you?

We use the LoanMLS default format, so we initially screen using the qualifying questions provided and the standard confidentiality agreement which gives us an initial degree of trust.  Then we contact them directly to do additional screening.

Q:  Before you started using LoanMLS, how would you typically find buyers for your notes?

We would look through our existing portfolio of investors, people we had worked with over the years.

LoanMLS has given us an entirely new format, allowing us to expose our TD investments to a much broader audience that we would have no other way to contact otherwise.

Q:  How has LoanMLS impacted your business?

Before LoanMLS, there was no marketplace, no central place to go for TD investments. 

LoanMLS has opened our eyes to a new world – it’s a whole new, forward-thinking way to operate our business.  This is the future of the private money industry.  LoanMLS brings together buyers and sellers together in one place inexpensively and effectively – allowing for instantaneous communications. 

Q:  Do you have any tips that you’d like to share with other LoanMLS members?

The first thing is to have a good loan to offer.  Secondly, take advantage of the tools provided on LoanMLS.  For example the ability to provide more details on your loan and add pictures of the property.  Pictures of a good property go a long way in selling a note.  Finally, use a concise headline that has a little sizzle to it – something that will stand out and attract the attention of potential investors.

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Case Study: Strong Response for $60 Million Pool03/23/10

With over 3000 members, LoanMLS is having a significant impact on our members’ businesses – helping them to find qualified buyers more quickly than they thought possible.   Here’s an interview with LoanMLS member, Mychal Dobbins, an Asset Manager and Partner at Earn Investments Corp, who has experienced this strong response first-hand.   

Q;  What types of notes are you posting on LoanMLS?

 I am selling performing and non-performing commercial and residential notes – all real-estate secured. 

 Q:  Have you found that certain notes receive better response than others?

 There seems to be a large appetite for distressed assets.  One thing that has been exciting about the LoanMLS platform is that it allows investors/institutions, who maybe don’t have the credentials to bid directly on FDIC-insured assets, to conduct their own due diligence without having to go through the formal bidding process.

 Q:  How do you screen potential buyers/investors who contact you?

 I created a list of qualifying questions that LoanMLS includes directly in the inquiry form that potential buyers complete and is then sent to me.  With these questions, I’ve been able to eliminate the “tire kickers” and the broker chains.  For example, my first question is “Are you buying for yourself or are you acting as a broker?”

 I have been very surprised at the heavy response that I’ve received on my listings, and the inquiries are all from very high quality, knowledgeable investors. 

 Q:  Before you started using LoanMLS, how would you typically find buyers for your notes?

 It was based on my personal relationships or sphere of influence – people that I had done business with in the past, so limited. 

 Q:  How has LoanMLS impacted your business?

 I have never had such a strong response so quickly.  I posted a listing for a $60million pool and had 8 inquiries in the first week.  I can’t say enough about the response – it’s been a very positive experience and a huge benefit time-wise.  The quality and integrity of the buyers has been very high – they are principals of their companies and all of them were able to validate their credentials.

 I’ve created new relationships through LoanMLS that are going to be long-term.  I’ve even acquired other assets through these relationships and have really been able to maximize the contacts that I’ve made with LoanMLS.

 Q:  Do you have any tips that you’d like to share with other LoanMLS users?

 I’d recommend creating your own qualifying questions, as I’ve done, to help qualify potential buyers upfront, which saves a lot of time. 

I’d also recommend keeping your listing information up-to-date.  I’ve got working pools and each time I’ve gone in to update them, adding assets or adjusting the price, it’s led to new inquiries.  So keep your listing current to continue to generate responses. 

 Finally, it’s really important to follow-up with people who make inquiries quickly while their interest level is high.  You get better results by following up quickly.

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LoanMLS now 3,000 members strong !03/03/10

LoanMLS gives you the power of connecting with 3,000 loan professionals and investors interested in buying, selling and funding existing loans, pools and new originations.   How many more loans could you fund if you could instantly find investors ?  How many more pools would you buy, if you had the ability to slice and dice them into pieces efficiently to place back out in to the market as is, or once you got them to re-perform.  Get creative; feel the power; and expand your business using one of the largest commission free and truly independent loan exchange.   What can you do today with LoanMLS?

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Logos, Indexing, Enhanced Preferences & Links are new02/23/10

Based on continued member feedback we are pleased to announce the following LoanMLS feature upgrades which are now available.

 Prequal Questions – Now you can ask up to 10 custom prequal questions of anyone inquiring on your listing.  Customize your prequal questions now in the Account / My Prequal Questions section.

 Logo / Headshot – Maintain a more professional profile by adding your logo and/or headshot to your profile.   Add these images in the Profile & Preferences section of the Account menu.

 Inbox Grouping – Use the newly added drop down Group box to better organize your inbox by Sender or by Listing.

 Preferences Enhanced – Preferences have been enhanced to allow selection by major metropolitan areas. In addition, a new separate preference section for Pool listings was added.

 Link to Us –New LoanMLS “bugs” in many shapes and variety along with HTML code are provided if you would like to easily link to the LoanMLS website.   Click on the Link to Us at the very bottom of the home page, or go to www.loanmls.com/public/link_to_us.

 Blog – Subscribe to the LoanMLS RSS feed on the home page, or click on our blog link for regular updates and case studies of our Members and their tips for using the website.  The latest case study will always be featured in the Announcements section of the home page.

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