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How Virtual Assistant
s
 
can h
elp Non-Performing Notes
 
Buyer s
 
get
direct access to bank Asset Managers
 
Non
-Performing Notes,
What are they?
 
Non-Performing notes (NPNs)
 
are accounts of 
borrowers
which have been
 
classified as
distressed
asset
s by
bank
s.
A perfect example
is an overdue
mortgage loan that is
not
 
producing income
because the borrower no longer makes monthly payments.
As a
result of this, banks through
the
ir asset managers sell the
se notes
in bulk
to Note
Buyers
.
The hard to find
Asset Manager 
s
 
Mo
st banks employ tons of gate-keepers that note buyers have to try really hard to getthrough to the right asset managers. Also, a
sset
m
anagers are often
very
busy and
attimes
not available immediately to take calls from note buyers, hence regular follow-u
p
is necessary, which in itself can be
a
time consuming and pains
taking process
.
 
Bad Note Brokers and their daisy chains
!
 
Asset managers sometimes
give their NPNs to Note
Brokers
to
market them
to
note
buyers. Well that
s an ideal situation; the reality is
that most note broker 
s
claim to have
access to NPNs but really don
t
 
and they are usually part of a long line of other note
 
brokers making the same
claims. A bad note broker is
a real time waster because note
buyers
will spend time dealing with all
partie
s involved in the transaction only
 
to find out
at the last minute that the note broker never really had access to
any NPNs or a real
asset manager in the first place.
The
cure! Virtual Assistants =
direct access to Asset Manager 
s
 
Virtual Assista
nts (VAs) p
lay a vital role in the businesses of note buyers
and they have
all the time in the day to
spend clearing
past the bank
s
 
gate
-
keepers in order to get
through to the asset managers responsible for the sale of NPNs in bulk. There are
also
a lot of tasks that
note buyers can delegate to VAs
; one of such
tasks
is for a
VA
 
tomake sure
that the NPNs for sale by the banks are
still managed by the asset managers
and have not been handed off to note
brokers. VA
s also makes sure that the assetsmanagers are
 
indeed the
decision maker before introducing them
to note buyers
.
 
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