Collateral: SFR, South Carolina
Unpaid principal balance (UPB): $13,556.00
Borrowers monthly payment (P&I): $159.00
Mann Group purchase price: $2,304 (17% of UPB)
We were able to get the note reinstated with 3 equal payments 3 months apart. After reinstatement, the borrower started making monthly payments.
Total collected by The Mann Group: $4,277.00
We sold the note as a re-performer 2 years after we acquired it for: $9,850.00 (78% UPB of $12,700)
Total received by The Mann Group: $14,127.00
Our only expenses were the price of the note and recording fees.
Return on investment: 514%, 257% annual return