OXFD Secures Winning Bid on Loan Portfolio
2008-05-12 13:42:05 -
www.oxfordfunding.com/investors.htm - Oxford Funding Corporation (OTC:OXFD) has secured the winning bid on a $1.69 million performing first lien residential loan portfolio from a major national lender Ronald C. Redd, Chief Executive Officer of Oxford reports.
"This is a relatively small portfolio, however, we are purchasing at 45.5% discount of the unpaid principal balances which should generate a nice return on our investment. We anticipate funding this purchase by May 30, 2008. We consider all portfolio sizes from one loan to groups representing millions of dollars in balances. The fact that this portfolio consists of performing loans that we can purchase at such a substantial discount was very attractive to us," stated Mr. Redd.
Oxford recently announced the formation of the Oxford Opportunistic Mortgage Fund, LP hedge fund which is open to accredited investors. The Fund invests in mortgages purchased at substantial discounts. The Fund's strategy will be to hold, rehabilitate where needed, and liquidate the mortgage assets for profit.
The General Partner of The Fund, Oxford Management Capital, LLC, is owned by Oxford Funding Corporation.
About Oxford Funding Corporation:
Oxford Funding Corporation is a publicly traded asset resolution company specializing in the purchase and management of bulk mortgage loan portfolios. Senior management at Oxford has facilitated rehabilitated loan sales in excess of One Billion Dollars, traded billions of dollars of financial assets as principal and agent, and has established relationships with hundreds of financial institutions and loan investors nationwide. For more information, please visit our homepage at www.oxfordfunding.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Oxford Funding Corporation, Houston
Ron Redd, 713-975-9602
ir@oxfordfunding.com
