Key Takeaways
- Specify the assets that fit and the assets that do not.
- Show capital, approval authority, servicing, and diligence readiness.
- Match information requests to the stage of a controlled review.
- Use the mortgage-note buyer mandate for secured note paper.
1. Write the buy box first
“Whole loans” is not one risk category. Identify product, collateral or obligor type, performing or non-performing status, geography, balance range, seasoning, lien or guaranty preference, servicing requirements, and exclusions.
Distinguish a spot acquisition from a recurring purchase program. A forward-flow requirement, a distressed purchase, and a performing mortgage-note mandate require different data, approvals, servicing, and transfer conditions. The Buy Portfolios hub is the broader starting point for a qualified acquisition mandate.
2. Demonstrate operating readiness
A buyer’s capital source is only part of readiness. Explain who approves an acquisition, how diligence is staffed, how loans will be boarded or serviced, how exceptions are handled, and how the buyer will meet applicable requirements for the asset and jurisdiction.
| Area | Questions to answer |
|---|---|
| Asset fit | Which products, performance bands, geographies, collateral, and sizes qualify? |
| Capital and approval | Who funds, approves, signs, and sets closing conditions? |
| Servicing | Who boards, services, works out, reports, and handles complaints? |
| Diligence | Which tape, payment, legal, collateral, and document fields are required? |
3. Ask for information in stages
An initial mandate should not require borrower-level records. Begin with a portfolio summary and buyer criteria. If there is fit, confidentiality and access controls can define the next package. Detailed review may include payment history, collateral, title or assignment materials, servicing records, modifications, legal status, and exclusions.
Overly broad requests create work without proving fit. A precise buy box helps sellers and brokers decide what is relevant before sensitive files move.
4. Evaluate opportunities consistently
Compare asset definition, balance basis, payment behavior, collateral or guaranty support, documentation, servicing, transfer restrictions, expected timing, and material exceptions. Do not compare one opportunity on gross balance and another on net cash-flow assumptions without making the difference explicit.
Fitzgerald does not represent that any specific whole-loan opportunity is available, priced, or suitable. Buyer qualification is a fit discussion, not an investment recommendation or promise of returns.
5. Prepare for diligence and closing
Define data-room access, question process, document versions, bid format, conditions, funding evidence, boarding plan, and post-close responsibilities. The parties should involve qualified legal, servicing, title, compliance, and tax professionals where appropriate.
Frequently Asked Questions
What makes a whole-loan buyer qualified?
Qualification depends on asset fit, capital and approval capacity, diligence capability, servicing or workout readiness, information controls, and the ability to meet proposed terms.
Are whole loans listed publicly on Fitzgerald?
No. Fitzgerald does not present a public inventory or guarantee a specific opportunity. A qualified mandate helps determine whether a controlled conversation is relevant.
Submit a whole-loan buyer mandate
Describe what you want to acquire, how you fund and service it, and the diligence standard your team requires.
Confidential buyer form
Educational disclaimer: This article is general information, not legal, tax, accounting, investment, lending, servicing, or transaction-specific advice.