If I purchase a mortgage loan from Landmark can I assume the risk of foreclosure in the event of default, thereby assuming the total benefit from resale of the property?
A. Yes. The loan sales agreement that is executed by Landmark and the purchaser of the loan provides for conditions of default, the corresponding management of the foreclosure process, and which party assumes risk of loss. The decision as to what party is responsible for management of this process, and the risk of loss, is made at the time the loan is purchased. The decision is up to the investor as to the desired approach.
