Even though the number of listings has increased from 4 to 10 included with the membership, the price remains the same.  Premium Listing Membership prices are between $59.99 and $79.99 per month, depending on how the service is paid for (monthly, quarterly or annually).

To upgrade to a premium membership, just log in, and select the Account Menu, then “Membership Plan – Upgrade or Change.”

“It’s not by accident that we attracted so many members to the site, but a reflection that we deliver a great user experience and a better way to do business,” said Martin Goodman, founder and president of LoanMLS. “Members rely on us because they attract more serious interest than anywhere else on or off the Internet. Also, they benefit from better prices, and they can consider loans and loan pools from across the U.S. That’s why we have attracted so many members to the site so quickly.”

Sellers use the LoanMLS platform because it lets them divide loan pools into smaller pieces, an approach that means there will be more bidders and higher prices. In addition, they benefit from having buyers from across the country participating in LoanMLS and pursuing investment opportunities in which they could not otherwise participate.

“Reaching the 10,000 member milestone is significant because it validates our approach to the business: Reasonable transaction fees and intuitive technology brings better prices. That means that participants will have more opportunities to transact business,” said Goodman. “We have done everything we could to make doing business as easy for members as possible—and that effort has paid off for us.”

Sellers find the LoanMLS platform appealing because it allows for loan pools to be easily divided into individual loans that can be sold to more buyers, driving up prices. Sellers also benefit from being able to sell to a wide audience of both national and local buyers. More potential buyers means more bids on their loans and enables business that wouldn’t otherwise take place away from a direct online exchange.

“We offer a way to sell loans and loan pools that is less expensive, yet it brings higher prices, than any other method on the Internet or through more traditional means and that is why LoanMLS is the exchange of choice for investors,” said Goodman. “We think that many of them have found the prices and intuitive technology too good to ignore.

Be sure to visit us at the MBA’s National Secondary Market Conference & Expo at booth #308 on May 1st  – 3rd, 2011.

The following video is from the LoanMLS creator, Martin Goodman who recounts several of the features.

The premium listing membership has all the benefits of the premium search membership.  Plus, the following features:

Free Listings Every Month – receive 4 FREE listings each month – equals $80 a month in savings which more than covers the cost of premium membership.

Discounts on Upgraded – receive a 25% discount on all upgrades and wanted ads.

Upload Due Diligence Docs – upload up to 10MB of files for Premium Searching Members to view, allowing them to better evaluate your loan.

Upload More Photos – upload up to 4 photos for each of your listings.

Manage Your Inbox– create folders and notes in your LoanMLS Inbox to better organize your inquiries and responses.

In addition, we have also developed a Premium Searching Membership for buyers/investors which includes 48-hour advance notice of new listings, exclusive access to “premium member” listings, access to due diligence documents, and 25% off wanted ads.  ALL of these benefits are also included in our Premium Listing Membership.

If you list loans regularly with us, this upgrade will be well worth your while and starts at just $69/month..

The Premium Searching members receive the following benefits:

Advanced Alerts – up to 48 hours in advance
Seller Contact Info
Access to Uploaded Due Diligence Documents
Access to listings specified for Premium Members only.
Inbox Management features including file folders

Premium Listing Members:

4 Free basic Listings
25% Discount on all listing upgrades
Upload 10MB of docs for each listing
4 photos to display

Basic memberships are still available free of charge. If you wish to upgrade your membership,
log in, and select Account > Upgrade or Change Membership plans.

The quality of the membership is important to all of us and we appreciate your support.   The article on LoanMLS Etiquette can be found at:  http://blog.loanmls.com/loanmls-etiquette/

Selet the underscored to view hard money lenders lists or list of lenders who make rehab loans.

Wanted Ads

The newest feature launched last week is Wanted Ads.   Wanted Ads give investors, borrowers or brokers the ability to post a general ad vs. an listing to sell a specific loan. For example, you may be looking for a particular type of loan or pool of loans in a particular market.  A member may have the asset(s) in inventory, even though they do not have it currently listed on LoanMLS.   The Wanted ad is a great way to reach our 4,000 loan professional member base.  To use the wanted ad feature, log in and click Wanted Ads – Search or Wanted Ads – Post from the main welcome menu.  Wanted ads run for 30 days and may be upgraded to appear in the Priority Listings or Featured Listings section.

PrivateMoneyLendingGuide

We are pleased to announce the beta release of our sister website, the PrivateMoneyLendingGuide.com.   This site is educational based and provides in depth articles to two audicences: Borrowers and Investors.   Borrowers are educated about obtaining private money, or hard money loans including topics such as Private Money Lending 101, How to Negotatiate the Best Deal, and Hard Money FAQs.  Investors are educated about the ins and outs of investing in hard money loans and contains topics such as Calculating the IRR of discounted loans or non-performing loans, hard money foreclosure issues.    Contained within both sites is a directory of private/ hard money lenders and loan investment advisors.  If you or your firm is interested in being a directory participant, and/or contributing content, please email marty@loanmls.com.

Link to Us

We have had many requests asking how to link to our web site.  Please feel free to do so.  We added a link to us page with html code and LoanMLS icon which you can cut and paste onto your web site.

Feedback on Other Members

To maintain the integrity of the site, please report inappropriate behavior using the feedback feature.   Our feedback system works similar to the successful ebay system.
In the Listing Details of any listing select the Give Feedback link and quickly report positive, neutural or negative feedback.   To see feedback given to you by other members, login, and go to
Account Menu, then View Feedback.

 An Interview with Robert Hardy, Capital Benefit Mortgage

 LoanMLS is truly changing the way private money loans are bought and sold and allowing companies to expand beyond their personal networks to reach potential investors across the country.  Robert Hardy of Capital Benefit Mortgage shares his experience with LoanMLS and its impact on the future of the private lending industry.

Q:  Tell me a little bit about your company.

We are a private money lender, licensed in California.  We originate and service new loans, funded by private investors.  90% of our loans are residential with a large number of loans in the REO market purchased as investments or as rental properties. 

Q;  What types of notes are you posting on LoanMLS?

We sell residential 1^st TDs with LTV of 55% or less and investor yields of 10 – 13%.

Q:  Have you found that certain notes receive better response than others?

As you’d expect, we see greater response on our more attractive loans.

Q:  How do you screen potential buyers/investors who contact you?

We use the LoanMLS default format, so we initially screen using the qualifying questions provided and the standard confidentiality agreement which gives us an initial degree of trust.  Then we contact them directly to do additional screening.

Q:  Before you started using LoanMLS, how would you typically find buyers for your notes?

We would look through our existing portfolio of investors, people we had worked with over the years.

LoanMLS has given us an entirely new format, allowing us to expose our TD investments to a much broader audience that we would have no other way to contact otherwise.

Q:  How has LoanMLS impacted your business?

Before LoanMLS, there was no marketplace, no central place to go for TD investments. 

LoanMLS has opened our eyes to a new world – it’s a whole new, forward-thinking way to operate our business.  This is the future of the private money industry.  LoanMLS brings together buyers and sellers together in one place inexpensively and effectively – allowing for instantaneous communications. 

Q:  Do you have any tips that you’d like to share with other LoanMLS members?

The first thing is to have a good loan to offer.  Secondly, take advantage of the tools provided on LoanMLS.  For example the ability to provide more details on your loan and add pictures of the property.  Pictures of a good property go a long way in selling a note.  Finally, use a concise headline that has a little sizzle to it – something that will stand out and attract the attention of potential investors.