Welcome to The Paper Trail, where we follow the journey—my journey—through the world of mortgage note investing. I'm Chris Seveney, and after years of buying, managing, and selling notes with 7e Investments, I'm here to share the real stories behind the deals—what went right, what went wrong, and what I wish I knew earlier. From non-performing loans to seller financing to private lending, this show is about more than strategies—it’s about learning to follow the paper trail and doing the due…
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In this episode of The Paper Trail , host Chris Seveney breaks down the “double squeeze” currently pressuring real estate construction from two directions at once: rising tariffs on building materials and a tightening construction labor market. Drawing from nearly 30 years of experience in construction and development, Chris explains how these forces are changing the economics of new development…
In this episode of the Paper Trail Podcast , Chris Seveney breaks down how real estate syndication returns change once taxes, fees, and deal structure are fully accounted for. Rather than focusing on headline IRR, the discussion centers on what investors actually keep after understanding their position in the capital stack, the tax implications of debt versus equity, and the impact of layered fee…
In this episode of the Paper Trail Podcast , Chris Seveney takes a practical look at how AI is shaping real estate and mortgage note investing today. Moving past the hype, he outlines where AI is already improving underwriting and valuation, where it may be narrowing investor advantage, and what structural risks are often overlooked as these tools become more embedded in the market. Episode…
In this new episode of the Paper Trail Podcast , Chris Seveney breaks down the growing stress in private credit and draws a clear distinction between corporate direct lending and asset-backed mortgage note investing. Chris Seveney walks through what is actually happening beneath the headlines, why parts of the market are showing strain, and how structural differences in collateral, underwriting,…
The easy part of a credit cycle is when rising home prices hide mistakes. That phase appears to be ending. In this episode of the Paper Trail podcast, Chris Seveney, CEO of 7e Investments , shares a grounded view of where the mortgage note market sits today and how his firm is adjusting its strategy for 2026. Drawing on direct asset management experience across performing and non-performing loans,…
In this episode of the Paper Trail podcast, Chris Seveney, CEO of 7e Investments, breaks down a long-term historical comparison of renting versus owning from 1970 through 2026 and explains why today’s cost imbalance matters for mortgage note investors. Rather than focusing on headlines, Chris walks through decades of data to show how housing costs and rent tend to revert toward historical norms…
In this episode of the Paper Trail podcast, Chris breaks down three major political and policy developments being discussed right now and what they could really mean for homeowners, investors, and the non-performing mortgage note space. No political spin, just practical analysis. 00:00 — Intro About Chris & 7E Investments 01:30 — Topic #1: Credit Card Interest Rate Caps 07:00 — Topic #2: Executive…
In this episode of the Paper Trail podcast, Chris discusses themes related to note investing with a focus on foreclosure trends. With 10 years of experience in mortgage notes and 25 years in real estate, Chris provides insights into the state of the foreclosure market post-COVID, contrasting it with the 2008 financial crisis. Key topics include foreclosure statistics from 2006 to 2025, varying…
In this episode of the Paper Trail podcast, Chris delves into the intricacies of title insurance, emphasizing its significance for mortgage note investors. Chris discusses the roles of owner's policies and lender's policies, presents real-life case studies of title claims, and highlights the pitfalls of neglecting title insurance. He also shares insights from Marco Bario's valuable article on the…
In this episode of the Paper Trail Podcast, host Chris Seveney delves into the common mistakes investors make when bidding on note investments. He breaks down a top 10 list of these errors, highlighting the complexities of foreclosure processes, especially in non-judicial states. Chris provides valuable examples and insights, stressing the importance of thorough due diligence, understanding…
