Contract Exchange Corporation — Serving the State of Iowa Since 1981
Who We Are
Contract Exchange Corporation was founded in April of 1981. At the time, interest rates were near their all-time highs as the Federal Reserve battled inflation. With 30 year mortgage rates around 17%, many sellers turned to that age-old instrument, the Land Installment Contract, as a means to sell their properties.
Able to offer potential buyers 9% (a very good rate at the time), contracts facilitated the continued function of the real estate market. This system relied in part upon investors who would purchase these contracts, so that the seller could pay off their mortgage and move on from the property.
At 28 years-old with his first child on the way, Anthony E. Schubert struck out on his own— to purchase, resell and service these contracts for a growing pool of private investors.
Since then, the business has grown, many investors staying with Tony the entire way. First, Tony Jr. joined the firm, acting as realtor in the large and favorable market of the Des Moines metro area. Tony’s other son Christopher joined the firm in 2013 to help navigate the changing regulatory and business environment, and chart a path forward for the company as licensed Mortgage Bankers. Contract Exchange is now over 40 years old and extends to all of Central Iowa and beyond.
What We Do
We provide a fast, fair, and reliable source of liquidity and lending to people and communities in need in the State of Iowa. We purchase, service, and originate contract loans for individuals and businesses for a variety of purposes. Whether you are trying to purchase your first home, need to refinance, or need to tap into the equity you have in your real estate, we can design a solution that works for you.
Why You Should Work with Contract Exchange Corporation
We believe that expanding access to housing and credit to underserved populations remains critical to the long term health of our Iowan communities. Contracts offer a better model for the subprime space than just traditional mortgages and rentals. Beyond that, we recognize that some people just need a fresh start to sort out their finances before they can get back to traditional financing in a few years. We strive for excellence and precision in all our transactions and are committed to providing everyone with accurate and fair dealings, down to the penny. We are here to help YOU!