Oxford Funding Corp., a Houston, Texas-based asset resolution company, says an unidentified U.S. mortgage lender has agreed to sell the company a portfolio of underperforming loans at a considerable discount.
The portfolio up for grabs, which is worth $3,000,000, will become part of Oxford Funding’s strategic plan to purchase loan portfolios at discounted rates and restore them before selling the portfolio for profit.
The latest acquisition is expected to be a lucrative transaction.
“We expect this to be a highly profitable acquisition for the company,” said Ronald Redd, CEO of Oxford. “In addition, we are hoping to make a series of additional portfolio acquisitions from this nationwide lender over the next several months. We have structured this transaction to be profitable to both our investors and our shareholders.”