Seems our new IR contact gets around.
Oxford Funding Already Working with Borrowers to Stabilize Payments
Friday December 7, 11:54 am ET
HOUSTON--(BUSINESS WIRE)--Oxford Funding (OTC:OXFD - News) has led the industry by voluntarily freezing rates and renegotiating terms for borrowers when needed. Borrowers have been able to remain current on their payments, maintain their credit and, as a result, some mortgage holders have refinanced at more favorable terms, resulting in significant profit for Oxford Funding.
While the majority of the mortgage industry is writing down their loan portfolios, declaring bankruptcy, and selling their asset backed mortgage portfolios at steep discounts to their value Oxford has been capitalizing on the opportunity by selectively purchasing loans that have been lumped into the category of under-performing or sub-prime. Most of the loans Oxford purchases, however, are performing loans with on-time payment histories.
Oxford Funding generates substantial revenue by acquiring performing and under performing mortgages at discounts ranging from 25% to 50% or more from face value. When the borrower refinances Oxford sees an immediate profit. Oxford continues to build greater value by working with borrowers to help them continue to pay on their current loans. These loans can be sold at a later date for much more than they were bought.
“We are continuing to execute our business plan and have seen significant initial success,” said Ron Redd, CEO of Oxford Funding. “We expect to see many more opportunities to make profits by acquiring assets from large lenders and reselling them at attractive profit,” he concluded.
The U.S. mortgage crisis has led many lenders and Wall Street investors to rebalance their portfolios. Companies such as Citigroup (NYSE: C - News) Bank of America (NYSE: BAC - News) and Merrill Lynch (NYSE: MER - News) have all announced write downs or restructuring of mortgage loan portfolios. This is the type of activity that has put Oxford on the profit side of the mortgage crisis.
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.
Contact:
Oxford Funding Corporation, Houston
William Carmichael
Corporate Relations
Phone: 713-975-9602
ir@oxfordfunding.com
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Source: Oxford Funding Corporation
AI
