Charged-Off Debt Portfolios For Sale
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Yes — and arguably more so than most other real-estate strategies. Note investing isn't landlording and isn't wholesaling. When you buy a non-performing mortgage note, the bank has already charged off the loan, booked the loss, and given up on the borrower. You step in with the margin to actually work with the homeowner: modification, reinstatement, discounted payoff, forbearance — outcomes the original lender had no incentive to pursue. The bank recovers capital, the borrower gets a path forward instead of an indefinite collections cycle, and you earn a return on solving the problem.

Pricing on real-estate-secured charged-off mortgages typically runs 30–65¢ per $1 of unpaid principal balance, driven by lien position, equity in the property, payment status, geography, and projected workout cost. Unsecured charge-offs trade much lower — usually $0.03–$0.07 per $1 of face value — because there is no asset to recover against. See the Federal Reserve's Charge-Off and Delinquency Rates series for industry-wide trends.

FIXnotes publishes the FIXnotes Market (https://fixnotes.com/market) — 15 years of completed mortgage-note sale results plus every round closed on the FIXnotes marketplace. The dataset includes aggregate deal counts, aggregate UPB, and the FIXnotes Market Index (FMI) tracking pricing as a percent of UPB over time. The methodology is published at /market/methodology.

An NPL (non-performing loan) is any mortgage past 90 days delinquent. A charged-off mortgage is one a lender has additionally written off as an accounting loss — usually after 120–180 days of nonperformance under FFIEC guidance. All charged-off mortgages are NPLs; not all NPLs are charged-off. Both can be sold on the secondary market.

FIXnotes is a marketplace for verified buyers. Qualification involves completing a buyer profile, accreditation verification where applicable, and an NDA before viewing data-tape-level detail. The qualification flow lives at /onboarding once you register.

UPB stands for Unpaid Principal Balance — the remaining principal owed on a mortgage at a point in time. Charged-off mortgages are typically priced as a percentage of UPB; a portfolio listed at $0.45 means the buyer pays 45 cents per dollar of UPB across all loans in the portfolio.

Yes. Mortgage notes — including charged-off mortgages — are subject to RESPA, Regulation X (servicing transfer notices, error-resolution procedures), state foreclosure laws, and CFPB UDAAP standards. This is a materially different regulatory regime from unsecured debt collection (FDCPA).

Both. The marketplace lists individual notes and bulk portfolios. Filter at /search by lien position, state, UPB band, and pricing tier.

Sellers are verified institutional or accredited entities — banks, credit unions, hedge funds, family offices, and qualified private investors. Each seller listing carries a verification badge. Sellers also sign a sale agreement before listing and a transfer agreement at closing.

Submitted offers go to the seller for review. They can accept, counter, or decline. Accepted offers move to a due-diligence window (21 days) where you review full loan files. After DD passes, closing happens via standard mortgage note assignment.

No. FIXnotes focuses exclusively on real-estate-secured debt. For unsecured charge-off portfolios (credit card, medical, auto deficiency, student), the dominant marketplaces are Debexpert, Don of Debt, Garnet Capital, and direct buyers like Crown Asset, Zyra Financial, and National Debt Holdings.

Highly dependent on resolution strategy. Reinstatements and modifications can resolve in 60–180 days. Discounted payoffs typically 90–270 days. Deed-in-lieu and short sales 6–12 months. Foreclosure → REO sale: 12–36 months depending on state judicial vs. non-judicial process.