"This gives sellers a way to finally make a move they've been waiting a long time for, said Dennis Doss, CEO of DossDocs. They can go from a 2.5% to an effective 4% rate instead of jumping straight to 6.5%. It's a win-win for the seller and the buyer, who finally have something easy to work with. Also known as an all-inclusive trust deed (AITD), the wraparound structure is often overlooked because of its complexity, a press release from the California-based company explained."
"The cloud-based platform claims it's the first company to offer complete, compliant loan documents for wraparound seller financing in all 50 states. Sellers, real estate agents and loan advisers can generate a full document set in minutes for $499. Most homeowners don't even know this is a thing, said Aletha Nelson, vice president at DossDocs. It's a great option for those who've been waiting and waiting for rates to come down."
DossDocs provides a cloud-based platform that delivers complete, compliant loan documents for wraparound seller financing (all-inclusive trust deeds) in all 50 states. The wraparound structure enables sellers to convert a low existing mortgage rate (for example 2.5%) to an effective 4% rate rather than matching current market rates near 6.5%. Sellers, real estate agents and loan advisers can generate a full document set in minutes for $499. The platform uses standard Fannie Mae documents with a custom all-inclusive rider and all materials needed to close a compliant transaction. Many homeowners remain unaware of wraparound seller financing as an option.
Read at www.housingwire.com
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