Saturday, 22 October 2016
Last updated 23 hours ago
Dec 8 2008 | 12:32pm ET
Oxford Funding Corp. has signed a letter of intent to buy up $40 million in new properties for its hedge fund. The assets are being acquired from ARCOA Capital Partners, a Houston-based investment company.
CEO Ron Redd said the firm expects this deal to be the first step in a series of asset acquisitions over the next several months for The Oxford Opportunistic Mortgage Fund. “This is a big step forward in our plan to build value for our shareholders by acquiring assets at attractive values and managing them to realize profits,” said Redd.
Oxford acquires mortgage portfolios from banks, mortgage companies, and lenders; restructures and services the loans; and then re-packages the loans for resale.