LoanStreet is the only loan syndication platform that allows you to purchase a loan assignment directly on the platform using the standard Master Terms of Syndication.
Search for loans using the LoanStreet search engine which allows you to search by a number of loan metrics and even by institution. Soon LoanStreet will also provide additional institutional criteria to find both the right lending institution and loan for your portfolio.
After searching for loans, your search results appear below the search engine. You can edit the viewable columns so that only your search terms appear or you can “pin,” by clicking the pin icon, additional items that will always show even if you didn’t search by that criteria. To do so, just click on “Edit Columns” on the upper right hand corner of the results section. In the pop-up that appears, you can select “Always Show Search Criteria” as well as other columns (click the “pin” icon to show those columns regardless of search terms).
You can view the entire LoanFile by clicking on the LoanStreet ID which will launch in a new browser tab to make for easy navigation back to your original search results. If you have Full Access, you can view the entire LoanFile. If you have Basic Access, you can request Full Access from that loan originator by visiting the Dataroom tab.
To make a purchase, select Purchase on the search results or visit the Transactions tab in a LoanFile.
Enter the dollar amount of the loan you wish to purchase which will identify the percentage of the loan that dollar amount represents. You then select review your purchase which will provide the wire instructions for your purchase and enable you to confirm the purchase.
Once you confirm the purchase, you have up to the next business day’s close of the FedWire to transmit the funds to LoanStreet for the purchase. The effective date of the loan assignment is the day the funds are received by LoanStreet. In the interim, LoanStreet holds your position in the loan but will cancel the purchase and re-open that portion of the loan to other users if the funds are not received in time. The wire instructions provided at the time of the Purchase include a unique identifier which must be included with the wire so that LoanStreet can properly identify the purchase and then distribute the funds to the loan originator. If you prefer LoanStreet to reverse wire the purchase amount so that you do not have to go to the trouble of initiating a wire, you can setup a reverse wire agreement with LoanStreet and then select the reverse wire option when making the purchase. Certain fees may apply when LoanStreet initiates wires on your behalf.
Once the funds reach LoanStreet, your purchase is confirmed. LoanStreet distributes the funds to the loan originator. Purchasers always have Full Access to the loan. Purchased loan assignments are always viewable in your Buy Side -> Loan Portfolio and which show all of your historical purchases including a Confirm for each purchase.