Paperstac’s 2021 Mid Year Market Report

This report contains anonymized trade data based on hundreds of Paperstac.com note closings during Jan 1 – Jun 30, 2021.

Investment to Balance

(sale price / unpaid principal balance)

• Performing (1st position) – 84% avg (46% min / 101% max)
• Non-Performing (1st position) – 52% avg (6% min / 87% max)
• Performing (2nd position) – 54% avg (27% min / 93% max)
• Non-Performing (2nd position) – 35% avg (0% min / 63% max)

Investment to Value

(sale price / property value)

• Performing (1st position) – 39% avg (4% min / 103% max)
• Non-Performing (1st position) – 21% avg (1% min / 53% max)
• Performing (2nd position) – 5% avg (1% min / 30% max)
• Non-Performing (2nd position) – 5% avg (0% min / 11% max)

Sale Prices

(per individual asset)

• Performing (1st position) – $39K avg ($4K min / $186K max)
• Non-Performing (1st position) – $19K avg ($1K min / $143K max)
• Performing (2nd position) – $30K avg ($2K min / $86K 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: 74% of assets sold
• Non-Performing: 26% of assets sold

1st Position vs 2nd Position

• 1st Position: 84% of assets sold
• 2nd Position: 14% of assets sold

Mortgage Note vs CFD/Land

• Mortgage Note: 78% of assets sold
• CFD/Land: 22% of assets sold

Single Asset vs Pools

• Sold Individually: 94% of assets sold
• Sold in Pools: 6% of assets sold

Escrow vs Direct to Seller Payment

• Used Escrow: 65% of deals funded
• Direct to Seller: 35% of deals funded

Used an Auditor to Verify Collateral

• Yes: 85% of deals
• No: 15% of deals