PPR Performance Warranty
To provide a quality service to note investors, PPR offers a Performance Warranty on any re-performing notes sold.
In the event that the re-performing note becomes delinquent, or enters non-performing status, PPR’s Loss Mitigation Department will notify the note investor within 30-60 days.
At 60 days past due, the note investor (herein the “Buyer”) will be eligible for our buyback option, wherein PPR offers to issue a cash refund for the note purchase price less payments received (payments include principle and interest) in exchange for the non-performing note. This offer only extends through to 90 days past due.
If the Buyer chooses to forego the buyback option and keep the note, he/she is entitled to do so, and PPR will provide available resources upon request.
*Please note, this warranty is non-transferable. If any contact is made with the borrower by the Buyer concerning the payment issue, or if the Buyer’s POA (Power of Attorney) is not on file with PPR, this warranty will be void.
Any questions regarding a loan’s delinquent status or the Performance Warranty may be directed to PPR’s Loss Mitigation Department at 1-888-879-4997 ext. 103 or by email to firstname.lastname@example.org.