Recourse means the borrower (or a guarantor) is personally liable beyond the collateral; non-recourse limits the lender to the collateral, subject to standard carve-outs. When a note is sold, the recourse and guarantees travel with it — and they affect the price, because they expand the buyer's recovery path.
Selling and assigning a note transfers the loan and its security — including personal guarantees and recourse provisions — to the buyer, who steps into the lender's position. Disclose guarantees, carve-outs (“bad-boy” provisions), and any springing recourse; they are part of the credit a buyer prices.
A recourse credit with a creditworthy guarantor gives the buyer a second recovery path beyond the property, which can support a stronger price. A non-recourse credit is priced to the collateral alone. See how buyers price a CRE loan.
Yes — assignment of the note and loan documents transfers the guarantees and recourse provisions to the buyer, subject to their terms.
It can — a creditworthy guarantor adds a recovery path beyond the collateral, which a buyer values.
Yes — full disclosure of guarantees and recourse terms lets a buyer price accurately and hold the bid without a re-trade.