Once the loan is made, the collections are made to Medallion Gold, Inc.  Payments are made into this audited checking account and then disbursed to the investors.  The servicing fee is paid directly from the account. For tax reporting, the amount actually paid to the investors is reported to IRS at the end of the year. The servicing fee is reported to the IRS as income to the servicers.  This account is audited by a licensed CPA and reported via DRE 852 and DRE TAR reports, which are available in our office for your review.

If a payment is missed, Medallion Gold, Inc. will contact the borrower to determine the reason a payment has not been received.  We will then determine what the borrower intends to do and proceed to the commencement of foreclosure, if necessary.  Medallion Gold, Inc. will advise the investor of the status.

The investors’ names are on the note, the deed of trust, the title, and the casualty policy.  The originals are maintained by Medallion Gold, Inc. unless only one investor owns the loan and then the investor may keep the original documents.  For your information, all of the documents can be reproduced, if necessary.

A procedure is already in place for IRA funds if the administrator is IRA Services or Pensco.  For example, if the administrator is IRA Services, then the note, the deed of trust, the title policy and the casualty policy will be in the name of “IRA Services, Trust Company, fbo [name of the investor].” Our staff will assist you in setting up an account with an IRA Custodian.

There is no exact minimum, but it is preferred if $25,000 or more is invested on a particular investment.