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FIXnotes is a marketplace and platform for buying, selling, and investing in non-performing mortgage notes, serving both institutional and independent investors.
Data compiled from public sources
FIXnotes was founded in 2017 by Robert Hytha, who entered the secondary whole-loan mortgage market in 2011 and identified a critical gap: abundant capital and inventory but insufficient clean data, consistent underwriting, and reliable resolution workflows. The company was built to create infrastructure for the secondary mortgage note market, enabling investors to source, underwrite, trade, and resolve notes using consistent standards. Today, FIXnotes operates as a comprehensive platform for non-performing loan (NPL) investing, positioning itself as "the operating system for distressed debt."
FIXnotes offers a multi-faceted service ecosystem for mortgage note investors. The platform provides an inventory marketplace with 127+ notes currently for sale, integrated analytics and underwriting tools, a trade desk that aggregates deal flow from lenders and brokers, borrower resolution workflow systems, and investor community access. Members gain access to 491+ educational resources covering due diligence, pricing, and borrower resolution, plus the option to pursue professional certification through their Accelerator program. The platform serves both institutional players and independent investors, with no sales fees or commissions on trades.
FIXnotes distinguishes itself through its documented track record and institutional-grade infrastructure. The company has generated $68.2 million in documented investor revenue and handled $740-777 million in non-performing loan unpaid principal balance (UPB) across 25+ years of combined industry experience. Their operating principles emphasize "aligned outcomes"—using investor power to reach fair, sustainable borrower resolutions—and "credibility compounds," building long-term trust through clear communication and consistent execution. The platform integrates sourcing, analytics, execution, and borrower resolution into a single aligned system, differentiating it from a basic marketplace.
However, potential investors should understand the caveats. FIXnotes is fundamentally a platform for institutional-level non-performing mortgage note investing, not consumer lending or mortgages for homebuyers. This is a listed, complex asset class requiring significant capital, financial sophistication, and tolerance for extended resolution timelines. The business model targets experienced or aspiring note investors rather than consumers seeking personal mortgages or home financing.
This is state-level context for Mortgages & Home Loans consumers in Philadelphia, PA. It does not confirm that FIXnotes LLC or this specific location is licensed.
State regulator
Pennsylvania Department of Banking and Securities
Consumer protection
Pennsylvania mortgages are subject to state and federal regulations. Foreclosure in Pennsylvania is judicial, requiring court proceedings. Lenders must comply with the Mortgage Forgiveness Debt Relief Act and federal TILA/RESPA requirements. Licensed mortgage lenders are regulated by the Department of Banking and Securities. Right-to-cure periods and anti-deficiency protections exist under state law.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
FIXnotes LLC offers 11 services including Marketplace for buying and selling non-performing mortgage notes with 127+ available inventory, Integrated analytics and modeling tools for underwriting and return analysis, Professional trade desk with aggregated deal flow from institutional sources, Borrower resolution workflow and execution systems, Dashboard and portfolio management portal for members, and 6 more.
FIXnotes LLC has profile signals associated with Real estate entrepreneurs and experienced investors seeking to build non-performing mortgage note portfolios, Institutional investors and capital partners looking for secondary market infrastructure and deal aggregation, Aspiring mortgage note staff context willing to invest in education and structured learning through the Accelerator program, Active investors comfortable with 12-24+ month resolution timelines and borrower negotiation-focused strategies.
Key strengths: Documented $68.2MM in investor revenue generated and $740MM+ in NPL UPB handled, providing verifiable track record; No sales fees or commissions on note trades for members, reducing transaction costs; Integrated platform combining inventory marketplace, analytics, trade desk, and borrower resolution in one system. Areas to consider: listed asset class requiring significant capital and financial sophistication—not suitable for novice or retail investors; Non-performing note investing involves extended resolution timelines and borrower negotiation complexity.
In the Mortgages & Home Loans category, comparable providers include Adam Kracht at CrossCountry Mortgage | NMLS# 1218552, Lending Capital Group, Inc. NMLS#1680087, The Lending Group Company. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
FIXnotes is profile signals for real estate entrepreneurs and experienced investors pursuing non-performing mortgage note investments as an alternative asset class. The critical caveat is that this is a listed, capital-intensive strategy requiring active management, financial sophistication, and patience for extended borrower resolution timelines—it is not a consumer mortgage lender or suitable for typical homebuyers seeking residential financing.
Adam Kracht is a mortgage loan officer at CrossCountry Mortgage in Doylestown, PA, serving homebuyers and refinancers through a national lender network.
Profile signals: Pennsylvania homebuyers seeking local loan officer relationship with national lender backing, Borrowers wanting both digital application convenience and in-person mortgage consultation support
Lending Capital Group is a mortgage lender specializing in fast home purchase and refinance loans, marketing 7-day closings through their FastAdvantage pre-approval program.
Profile signals: Home buyers in competitive markets seeking rapid pre-approval to strengthen purchase offers, Homeowners with strong credit profiles and straightforward financial situations qualifying for expedited processing
The Lending Group Co. is a mortgage lender operating in PA, NJ, DE, FL, GA, and CA, offering home purchase loans, refinancing, and listed "rescue loans" for non-traditional borrowers.
Profile signals: First-time homebuyers in PA, NJ, DE, FL, GA, or CA seeking guided mortgage navigation, Homeowners looking to refinance existing mortgages or access home equity
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
An interest rate that stays the same for the entire life of the loan. Your monthly payment never changes.
Fixed rates protect you from market changes. If rates go up, your payment stays the same. The tradeoff: fixed rates are usually slightly higher than starting variable rates.
Example
You get a 30-year mortgage at 6.5% fixed. Whether rates rise to 9% or drop to 4% over the next 30 years, your payment stays at $1,264/month on a $200,000 loan.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
An interest rate that can go up or down over time, usually tied to a benchmark like the prime rate. Your monthly payment changes when the rate changes.
Variable rates often start lower than fixed rates to attract borrowers, but they can increase significantly. Many people who got hurt in the 2008 crisis had adjustable-rate mortgages.
Example
You start with a 5/1 ARM mortgage at 5.5%. For the first 5 years you pay $1,136/month on $200,000. Then the rate adjusts to 7.5%, and your payment jumps to $1,398/month.
The process of paying off a loan through regular payments that cover both principal and interest. Early payments are mostly interest; later payments are mostly principal.
Understanding amortization explains why paying extra early in a loan saves the most money — you're reducing the principal that interest is calculated on.
Example
Month 1 of a $200,000 mortgage at 6%: your $1,199 payment splits as $1,000 interest + $199 principal. By month 300: only $47 goes to interest and $1,152 goes to principal.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A fee some lenders charge if you pay off your loan early. The lender loses the interest they expected to earn, so they penalize you for leaving early.
Always ask about prepayment penalties before signing. They can trap you in a high-rate loan even if you find a better deal to refinance into.
Example
Your mortgage has a 2% prepayment penalty for the first 3 years. If you refinance after year 2 on a $200,000 balance, you'd owe a $4,000 penalty fee.
Replacing your current loan with a new one, usually at a lower interest rate or with different terms. The new loan pays off the old one.
Refinancing can save thousands if rates drop or your credit improves. But watch for fees — a $3,000 refinancing cost needs to be offset by monthly savings.
Example
You have a $180,000 mortgage at 7.5% ($1,259/month). You refinance to 6% ($1,079/month), saving $180/month. With $3,000 in closing costs, you break even in 17 months.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
The fees paid when finalizing a home purchase or refinance — typically 2-5% of the loan amount. They include appraisal, title insurance, attorney fees, and lender fees.
Closing costs can add $6,000-$15,000 to a home purchase that buyers don't always budget for. Some can be negotiated or rolled into the loan.
Example
You buy a $300,000 home. Closing costs at 3% = $9,000. That includes: appraisal $500, title insurance $1,500, attorney $800, origination fee $3,000, taxes/escrow $3,200.
Upfront fees you pay to the lender at closing to buy a lower interest rate. One point = 1% of the loan amount and typically reduces your rate by 0.25%.
Points make sense if you plan to stay in the home long enough for the monthly savings to exceed the upfront cost. That breakeven point is usually 4-6 years.
Example
On a $250,000 mortgage at 6.5%: you pay 1 point ($2,500) to get 6.25%. Monthly payment drops from $1,580 to $1,539 — saving $41/month. Breakeven in 61 months (5 years).
The percentage of your monthly gross income that goes toward paying debts. Lenders use it to judge whether you can afford another loan payment.
Most lenders want DTI below 36% for personal loans and below 43% for mortgages. Above that, you're considered overextended and likely to be denied.
Example
You earn $5,000/month gross. Your debts: $1,200 mortgage + $300 car + $200 student loans = $1,700/month. DTI = 34%. A new $400/month loan would push you to 42% — risky for lenders.
An account managed by your mortgage lender that holds money for property taxes and homeowners insurance. A portion of each mortgage payment goes into escrow, and the lender pays these bills for you.
Escrow ensures taxes and insurance are always paid on time (protecting the lender's investment). Your monthly payment may go up if taxes or insurance increase.
Example
Your mortgage payment is $1,400: $1,050 principal+interest + $250 property taxes + $100 insurance. The $350 for taxes/insurance goes into escrow. The lender pays your tax bill in December from escrow.
A government-insured mortgage that allows lower down payments (as low as 3.5%) and lower credit score requirements (580+). The FHA insures the loan, reducing risk for lenders.
FHA loans make homeownership accessible for first-time buyers and those with imperfect credit. The tradeoff: borrowers are required to pay Mortgage Insurance Premium (MIP) for the life of the loan.
Example
You have a 620 credit score and $10,500 saved. On a $300,000 home: FHA lets you put 3.5% down ($10,500) vs. conventional requiring 5-20% down ($15,000-$60,000).
The ratio of your loan amount to the property's appraised value, expressed as a percentage. It tells the lender how much of the home's value they're financing.
LTV above 80% usually requires Private Mortgage Insurance (PMI), which adds $100-300/month. Lower LTV can mean lower lender risk and different rate context.
Example
Home value: $300,000. Down payment: $60,000. Loan: $240,000. LTV = 80%. You avoid PMI. If you only put $30,000 down (90% LTV), you'd pay PMI until you reach 80%.
Replacing your current mortgage with a new one, usually to get a lower rate, change the loan term, or pull cash out of your home equity.
A 1% rate reduction on a $250,000 mortgage saves ~$150/month ($54,000 over 30 years). But closing costs of 2-5% mean it can be useful to stay long enough to break even.
Example
You have a $300,000 mortgage at 7.5% ($2,098/month). Rates drop to 6%. Refinancing costs $8,000 in closing. New payment: $1,799/month. Monthly savings: $299. Breakeven: 27 months.
Insurance that protects the LENDER (not you) if you default on a mortgage with less than 20% down payment. You pay the premium, but it only covers the lender's loss.
PMI typically costs 0.5-1.5% of the loan per year and adds nothing to your equity. Once you reach 20% equity, you can request it be removed.
Example
On a $250,000 loan with 10% down, PMI at 0.8% = $2,000/year ($167/month). After 5 years, your home's value rises and your equity reaches 20%. You request PMI removal and save $167/month.
A mortgage backed by the Department of Veterans Affairs for eligible military members, veterans, and surviving spouses. Key benefits: no down payment required and no PMI.
VA loans are among the mortgage options with notable listed benefits — 0% down, no PMI, and rate claims to verify. They're earned through military service and can be used multiple times.
Example
A veteran buys a $350,000 home with a VA loan: $0 down, no PMI, 5.8% rate ($2,054/month). A comparable conventional loan with 5% down would require $17,500 down plus $175/month PMI.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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