Paperstac

Paperstac is an online marketplace for buying and selling mortgage notes. Listing and bidding are free, and both sides close the trade inside the platform instead of by email, courier, and phone.

Every deal runs on a transaction timeline that records each event, message, and document, with a to-do list that walks both parties through the steps in order. Calls placed through the platform are recorded and transcribed onto the same timeline, so another member of a buying team can pick up a deal mid-transaction without a handover call.

The company coordinates the outside parties a note trade needs — escrow agents, due diligence vendors, note servicers, shipping providers, and self-directed IRA custodians — rather than leaving each user to contract them. Closing costs 1.85% of the transaction with a $375 minimum, which covers FedEx shipments, audit reports, and online notary.

Paperstac works from 1516 Hillcrest St, Ste 306 in Orlando. Inventory is whatever sellers have listed at the time, so check that current listings match your buy box — performing or non-performing, first or second lien — before planning around the platform.