Paperstac’s 2021 Market Report

This report contains anonymized trade data based on hundreds of Paperstac.com note closings during 2021.

Investment to Balance

(sale price / unpaid principal balance)

• Performing (1st position) – 82% avg (27% min / 101% max)
• Non-Performing (1st position) – 58% avg (6% min / 92% max)
• Performing (2nd position) – 58% avg (27% min / 94% max)
• Non-Performing (2nd position) – 40% avg (0% min / 76% max)

Investment to Value

(sale price / property value)

• Performing (1st position) – 37% avg (3% min / 103% max)
• Non-Performing (1st position) – 27% avg (1% min / 64% max)
• Performing (2nd position) – 6% avg (1% min / 30% max)
• Non-Performing (2nd position) – 5% avg (0% min / 16% max)

Sale Prices

(per individual asset)

• Performing (1st position) – $37K avg ($3K min / $185K max)
• Non-Performing (1st position) – $30 avg ($2K min / $86K max)
• Performing (2nd position) – $26K avg ($1K min / $343K max)
• Non-Performing (2nd position) – $12 avg ($0K min / $50K max)

Deal and Asset Overview

(what is selling and how deals are getting done)

Performing vs Non-Performing

• Performing: 73% of assets sold
• Non-Performing: 27% of assets sold

1st Position vs 2nd Position

• 1st Position: 76% of assets sold
• 2nd Position: 24% of assets sold

Mortgage Note vs CFD/Land

• Mortgage Note: 75% of assets sold
• CFD/Land: 25% of assets sold

Single Asset vs Pools

• Sold Individually: 93% of assets sold
• Sold in Pools: 7% of assets sold

Escrow vs Direct to Seller Payment

• Used Escrow: 71% of deals funded
• Direct to Seller: 29% of deals funded

Used an Auditor to Verify Collateral

• Yes: 93% of deals
• No: 7% of deals