Paperstac’s 2020 Market Report

This report contains anonymized trade data based on hundreds of Paperstac.com note closings during 2020.

Investment to Balance

(sale price / unpaid principal balance)

• Performing (1st position) – 76% avg (29% min / 100% max)
• Non-Performing (1st position) – 65% avg (4% min / 76% max)
• Performing (2nd position) – 56% avg (30% min / 92% max)
• Non-Performing (2nd position) – 23% avg (1% min / 78% max)

Investment to Value

(sale price / property value)

• Performing (1st position) – 36% avg (5% min / 113% max)
• Non-Performing (1st position) – 26% avg (4% min / 77% max)
• Performing (2nd position) – 8% avg (2% min / 31% max)
• Non-Performing (2nd position) – 3% avg (0% min / 10% max)

Sale Prices

(per individual asset)

• Performing (1st position) – $36K avg ($2K min / $250K max)
• Non-Performing (1st position) – $21K avg ($2K min / $85K max)
• Performing (2nd position) – $28K avg ($4K min / $114K max)
• Non-Performing (2nd position) – $7K avg ($0K min / $50K max)

Deal and Asset Overview

(what is selling and how deals are getting done)

Performing vs Non-Performing

• Performing: 75% of assets sold
• Non-Performing: 25% of assets sold

1st Position vs 2nd Position

• 1st Position: 78% of assets sold
• 2nd Position: 22% of assets sold

Mortgage Note vs CFD/Land

• Mortgage Note: 70% of assets sold
• CFD/Land: 30% of assets sold

Single Asset vs Pools

• Sold Individually: 90% of assets sold
• Sold in Pools: 10% of assets sold

Escrow vs Direct to Seller Payment

• Used Escrow: 59% of deals funded
• Direct to Seller: 41% of deals funded

Used an Auditor to Verify Collateral

• Yes: 88% of deals
• No: 12% of deals