Basically Not

Is the new note holder literally a private sole investor acting on their own behalf, or another corporate/LLC entity unrelated to the original note holder? My guess is the former.

Depends when the actual legal foreclosure proceedings began or if they began (laymen tend to misinterpret), what state the property is located, and judicial or non-judicial foreclosure. A buyer of a note has the same legal rights as the originator of the note and can step-in the shoes of the previous note holder. If it’s been two years since the note was sold, most attorneys probably would advise the new note holder to send a fresh NOD (essentially start over) out of abundance of caution. Essentially no big deal. The clock on your credit record doesn’t start ticking until the default is resolved either through settlement or foreclosure. Depending upon the state the note holder wouldn’t lose their rights for approximately another five years of inaction.