Oxford Funding Corp. [OTC:OXFD], announced today the launch of its asset management program for subprime mortgage portfolios. Oxford Funding will focus on acquiring and rehabilitating subprime mortgage portfolios in the secondary mortgage market. It will purchase, restructure and re-sell subprime residential and commercial real estate loans it acquires from institutions and banks.
Due the recent meltdown in the subprime lending industry, with many subprime lenders going out of business, an exceptional opportunity exists to acquire loan portfolios at substantial discounts. Oxford will acquire performing, under-performing and non-performing loans and restructure and rehabilitate these assets. Because these portfolios of loans are asset backed, the opportunity to purchase them at a significant discount provides a platform from which attractive profits can be generated.
“The best time to acquire asset-backed mortgage assets is when investors and large banks want to get them out of their portfolios,” noted Ron Redd, Oxford’s CEO. “We intend to capture the upside of a down market with the potential of producing 15% to 40% gains on each portfolio asset we acquire,” he explained.
In the 1990’s the Oxford Funding team traded over $1 billion in portfolio assets and gained valuable experience that should relate well to today’s market.
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