018: Don’t Call it Non-Performing

The Field Agent Chronicles
(The Shows between the Seasons where Czarina interviews someone she likes or talks about whatever she wants.)

Don’t Call It Non-Performing: Types of Sub-Performance and How to Handle It.

[00:30] When to call something Non-Performing.
[03:23] What exactly is a Sub-Performing loan?

For the most part, Borrowers don’t have the same information we have about notes in general, so they never even heard of the word Sub-Performing.  -Czarina

Czarina role plays a few phone calls to help you know how to actively handle Sub-Performing loans.
[03:55] Call #1: Paying, but not taxes
[04:27] Call #1 Explanation

If they are constantly missing their county tax payments, your investment is at risk.  -Czarina

[05:20] Call #2: Paying, No Property and Casualty Insurance
[05:56] Call #2 Explanation
[07:22] Call #3: Pays in chunks, never over 120 days late
[07:57] Call #3 Explanation

These people are consistent being late and then catching themselves up… I just call these people the HunkyChunks.  -Czarina

[09:17] Call #4: Pays every month, late
[09:52] Call #4 Explanation

…This is probably one of the best Sub-Performing loans to have.  -Czarina

[12:30] Call #5: Pays every month, Rolling 30-, 60-, 90-days
[13:17] Call #5 Explanation
[16:40] Episode Conclusion

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