In this episode of Paper Trail, part of our Know Your Speaker series, Chris Seveney sits down with Michael Fordham—founder and president of Silverstream Funding and former Wall Street attorney turned boutique private lender.

Michael shares his journey from managing billion-dollar bond deals at JP Morgan to gut-renovating a Harlem brownstone and launching his own lending firm. They talk about the real risk (and reward) in private lending, why humility is the secret ingredient most investors miss, and how his legal background shapes his disciplined, hands-on approach.

This conversation is packed with takeaways on due diligence, lending philosophy, and how to build lasting relationships in the note space. Michael will also be taking the stage this fall at the Paper Trail Note Conference, and gives a preview of what he hopes attendees walk away with.

🎟 Join us September 18–20 in Chandler, AZ. Register now at papertrailconference.com

They’re diving deep into the world of DSCR lending on this episode of the Paper Trail podcast, unpacking the latest trends that are shaping the private lending game. DSCR loans, which are like the cool cousin of traditional loans, let investors qualify based on rental income instead of personal income—talk about a game-changer! With an eye on the April 2025 DSCR lending trends report from Lightning Docs, they break down how these loans are making up a hefty chunk of originations and what that means for investors. They also dish out the 411 on why understanding these numbers is crucial for note investors, especially as more of these loans hit the secondary market. So, if you’re ready to roll with the big dogs in mortgage note investing, grab a comfy seat and get ready for some insights that could level up your investment game!

Links referenced in this episode:

• 7einvestmentlending.com
• 7einvestments.com
• papertrailconference.com

Today’s chatter on the Paper Trail podcast is all about the latest Quarter 12025 Bank Call Report data and what it’s spilling about the mortgage note scene. They dive into why banks are feeling a bit skittish about the economy, hinting that lending is slowing down and defaults are creeping up like a surprise guest at a party! It turns out, over 70% of bank asset growth is from trading assets, not loans, which is like throwing a pizza party but only serving salad—everyone's gonna be disappointed! The crew breaks it down for investors, explaining how these shifts could mean more opportunities for note buyers as defaults rise and inventory comes into play. So, grab your headphones and let’s explore how to navigate these choppy waters without getting shipwrecked!

Get ready to dive into the wild world of mortgage note investing with the latest episode of the Paper Trail podcast! The host kicks things off with a bang, breaking down the Quarter 12025 Bank Call Report data that’s hotter than a summer sidewalk. He spills the beans on how banks are tightening their lending practices – and trust me, this is no small potatoes. With banks loading up on trading assets instead of actually lending, the episode paints a picture of an industry on the brink of change. It’s not all doom and gloom, but there’s definitely a shift happening, and savvy investors need to be paying attention.

As the host digs deeper, he highlights some key takeaways that’ll make any note investor perk up their ears. Slower lending typically means a higher risk of defaults, and with banks pulling back, there’s a chance we might see more distressed loans popping up. This could mean opportunities for those ready to pounce. The host doesn’t just throw out numbers; he weaves a narrative about cash-poor homeowners who, despite having equity, are struggling to keep their heads above water. This could lead to a wave of discounted sales that would impact property values across the board – so it’s crucial for investors to stay sharp!

To wrap things up, the podcast offers up some solid advice for navigating the choppy waters of the mortgage note market. The host emphasizes the importance of building a reliable team and staying flexible in investment strategies. With the signs of distress emerging, it’s all hands on deck for investors to prepare for what’s next. Whether you’re a newbie or a seasoned pro, this episode is packed with valuable insights served with a side of humor, making it a must-listen for anyone looking to stay ahead in the mortgage game. Tune in, take notes, and get ready to ride the waves of opportunity!

Seriously underwater mortgages are rising, and that’s the big takeaway from this episode of the Paper Trail podcast! The crew dives into the fresh data from Adam's Q1 2025 Home Equity report, revealing that now 4% of U.S. mortgages are in deep water, meaning folks owe way more than their homes are worth. They chat about how this trend could lead to more foreclosures and what savvy investors can do to prep for the upcoming wave of opportunities—or challenges, depending on how you roll with it. With plenty of properties still equity-rich, they emphasize the growing divide in the market, and how building the right team now can set investors up for success later. So, kick back and get ready for some solid insights on navigating this shifting landscape!

Chris dives into the nitty-gritty of how note investing has transformed over the last decade, highlighting that while the landscape has shifted from a treasure trove of low-balance, distressed loans to a more competitive and cash-heavy game, the opportunities are still very much alive. He breaks down the five foundational steps for newbies looking to jump into the note investing scene, even if they don’t have deep pockets. From smart partnerships to exploring partials and land notes, he’s got your back with creative strategies to get started without needing a mountain of cash. So whether you’re just kicking the tires or ready to roll, Chris serves up some solid advice on navigating today’s market with a wink and a smile. Tune in and get ready to learn how to make your first deal happen!

Get ready for a wild ride with the Papertrail podcast, where they spill the tea on the crazy world of mortgage note investing! This episode kicks off with a jaw-dropping story about a Las Vegas asset that was more than just a bad loan—it involved a borrower behind bars, chickens running amok in the house, and one of their biggest turnarounds ever! They dive into the nitty-gritty of turning a non-performing loan into a success, all while dealing with teenage squatters and a property that had seen better days. With a blend of humor and real talk, they explore the wild ups and downs of the investment game, proving that sometimes the messiest situations lead to the greatest rewards. So grab your snacks and get cozy, because this episode is packed with laughs, lessons, and a whole lot of unexpected twists!

The Papertrail podcast takes listeners on a wild ride through the ups and downs of mortgage note investing, spotlighting a particularly zany case involving a luxury home just outside Las Vegas. Chris Sevigny recounts the rollercoaster of acquiring a non-performing loan secured by a million-dollar property. Things go south when the borrower ends up in prison for running unlicensed restaurants, leaving a teenage squatter in charge of the house, which is now home to chickens – yes, chickens! This episode is a tale of unexpected twists, showcasing the challenges and hilarity that come with investing in distressed properties. Chris shares how they navigated the foreclosure process while working with the squatter, ultimately leading to a heartwarming resolution where the young girl managed to clean up the place before moving out. It’s a perfect blend of real estate education and laugh-out-loud storytelling, reminding us that sometimes, investing can lead to the most bizarre yet rewarding experiences.

Chris dives into the nitty-gritty of the acquisition process, explaining how they spotted this hidden gem on a single asset tape – a glorified spreadsheet of loans. With a rough idea of the property's value and a decent mortgage payoff, they thought they were in for a sweet deal. But as things unfolded, it became a tangled mess of bad luck and wild surprises. From the borrower’s unexpected prison term to the discovery of a teenage girl living alone in a big house, this episode is a testament to the unpredictability of mortgage note investing. The hosts keep the tone light-hearted while unpacking serious issues like tenant rights and property management, reminding listeners that every deal has its unique set of challenges and surprises waiting just around the corner.

After taking back the property, Chris and his team decided to renovate rather than sell it as-is, leading to a remarkable turnaround. With a strategic plan that focused on what potential buyers actually wanted – modern kitchens and updated bathrooms – the investment of $150,000 in renovations ultimately paid off big time. The property sold for nearly $2 million, breaking neighborhood records and proving that with the right approach and a little bit of faith in the process, even the messiest notes can yield the biggest rewards. This episode not only serves as a case study in savvy investing but also as an engaging story filled with unexpected characters and hilarious anecdotes. For anyone curious about the world of note investing, this episode is a must-listen, jam-packed with lessons, laughs, and inspiring success.

Today’s chat dives into the wild world of real estate deals, particularly the ones you dodge like a dodgeball champ! The main takeaway? Sometimes, the best deal is the one you don’t touch with a ten-foot pole. Our host spills the tea on a promising construction loan that turned out to be a total mess – think lawsuit drama that’d make a soap opera blush! They break down how due diligence saved their bacon, revealing red flags that screamed, “Walk away, buddy!” With some hilarious analogies and a sprinkle of wisdom, they emphasize the importance of knowing when to cut your losses and keep your sanity intact. So, grab a snack, kick back, and tune in for some real estate wisdom that’ll make you think twice before signing on the dotted line!

Diving headfirst into the wild world of real estate investing, the crew kicks things off with a bang, chatting about the often-overlooked art of dodging disaster—like, you know, walking away from a deal that has more red flags than a bullfighting arena! Our main man breaks it down with a cheeky grin, reminding everyone that sometimes the best deals are the ones you don’t make. He shares a juicy tale of a seemingly flashy construction loan that turned out to be a hot mess of lawsuits and liens, making it sound like a family road trip gone wrong—think tantrums, tears, and the whole shebang! Turns out, a little due diligence can save a whole lot of dough, and our savvy investor knows this all too well as he recounts how digging a bit deeper into the paperwork revealed some serious skeletons in the closet.

As they peel back the layers of this deal, listeners are treated to a treasure trove of insider info about what to watch for when evaluating a property. Our speaker highlights that not all that glitters is gold; the construction was only half-done, and the HOA was already throwing legal punches! Like a friendly warning from someone who’s been through the ringer, he shares that while it might seem tempting to rescue a sinking ship, sometimes it’s better to hop on a lifeboat and sail away to calmer waters.

Wrapping things up with a high-five-worthy recap of the key takeaways, our host emphasizes the importance of knowing when to say ‘no thanks’ to a deal that smells fishy. Whether it’s a lawsuit lurking in the shadows or a builder who’s not playing by the rules, understanding the risks can save you from a world of hurt later on. So, grab your popcorn and tune in to hear all the laughs, lessons, and a few cringe-worthy moments from the trenches of real estate investing!

Today’s chat on the Papertrail podcast dives into the nitty-gritty of capital raising strategies, helping listeners figure out which method is the best fit for their unique deals. They kick things off with a rundown of the four main options: Regulation D506B, D506C, Regulation A+, and Regulation CF, breaking them down like a pro chef slices veggies for a stir-fry. Each option comes with its own pros and cons, folks—like choosing between a cozy blanket or a sleek comforter, it all depends on what you need for your specific situation.

For instance, if you're looking to keep things low-key and have a tight-knit network, the 506B is your best bud. But if you want to blast your message far and wide and don’t mind the extra hoops to jump through, then D506C might just be your jam. They make sure to highlight that while it’s tempting to go for the biggest, flashiest option, sometimes the simpler paths can save you heaps of cash and hassle. So, whether you’re a newbie or a seasoned pro, there’s something in this episode to help you navigate the wild world of capital raising with style and confidence.

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Diving into the world of capital raising, the Papertrail podcast kicks things off with a bang, breaking down the nitty-gritty of different investment strategies. Our host, full of energy and charm, doesn’t just skim the surface; they dig deep into the four main capital raising options that can make or break your investment game. From the no-nonsense Regulation D506B, which keeps things exclusive and private, to the loud and proud Regulation D506C that’s like throwing a party with a guest list of accredited investors only, the discussion is lively and packed with insights.

But wait, there’s more! Regulation A+ comes into play, giving everyone from seasoned investors to newbies a shot at getting in on the action, albeit with a few more hoops to jump through. And then there’s Regulation CF – the crowd-funding hero, perfect for those local startups and tech projects looking to raise smaller amounts. With humor and relatable anecdotes, our host makes the complexities of SEC regulations feel like a casual chat over coffee. They emphasize that understanding these options is not just about raising money but about aligning your strategy with your business goals, ensuring that listeners leave with actionable takeaways that can save them a ton of headaches down the line.