IRESE is an online marketplace that allows mortgage owners or brokers to finance the mortgage or a pool of mortgages and investors to invest in fixed income notes secured by a real estate. A mortgage owner or broker who wishes to sell mortgage notes uses the marketplace auction process to create Real Estate Notes to offer a Mortgage Financing.

The Auction Platform

Real Estate Note is an interest-bearing note on a specific Mortgage Financing for the real estate property with a specific rate of return. IRESE will provide all the due diligence mortgage originator or broker has with the Real Estate Note auction, including property owner FICO score range, debt-to-income ratio, loan-to-value ratio, a certified property appraisal, and any other additional information provided. The interest rate on the note is determined through a Dutch auction.

The Note

A unique tracking number is assigned to the Real Estate Note and securely displayed the note on IRESE web site to be viewed by any interested registered investors. In order to make it easier for potential investors, the note may be searched by property location or mortgage risk profile.

The Paperwork

To secure a Real Estate Note, the exchange creates a series of electronic documents which will create an electronic record and communicate the rights, liquidation options and mortgage owner obligations.