SOURCE: Oxford Funding Corp.

August 04, 2008 07:00 ET

Investment Firm Action Validates Oxford Funding Business Model, Company Says

In What Appears to Be a Move Lifted From Oxford Funding's Playbook, Goldman Sachs Borrows a Billion Dollars to Buy Default Mortgage Loans at Deeply Discounted Prices

HOUSTON, TX--(Marketwire - August 4, 2008) - News of mega-large investment groups like Goldman Sachs borrowing money to take advantage of huge fire sales at banks by picking up defaulted mortgage loans at deep discounts is being viewed as validation by Oxford Funding (PINKSHEETS: OXFD), the company says. The company's business model is based on seizing opportunities within the faltering real estate loan markets.

"The recent actions of other investment groups really validate what we're doing," says Bob Dunn, president of Houston-based Oxford Funding. "Our commitment to repair and re-sell these damaged loans remains strong and our investors can clearly see what we see -- that there's a great margin for profit in the future."

Houston-based Oxford Funding fills a gap in the financing markets created by the mortgage crisis -- already being called the worst since the Great Depression.

As bad mortgage debts are sold at pennies on the dollar by major firms like Merrill Lynch, Oxford buys those loans and works with borrowers to get them back on a paying basis and then resells the loans. The investment group Goldman Sachs recently borrowed $1-billion to get into the game.

Oxford Funding now offers individual investors the opportunity to buy the discounted loans from Oxford.

"The ability to turn around even a few loans has always been rewarding but now with major write-downs announced and several more expected in the near future, Oxford is well positioned to succeed in the long-run," says Dunn.

About Oxford Funding: Oxford Funding (PINKSHEETS: OXFD) is a publicly traded asset resolution company specializing in the purchase, sale and management of individual and bulk mortgage loan portfolios.

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 Information

  • Media Contact:
    Robert M. Dunn
    Ronald C. Redd
    Takenya "TK" Arceneaux
    Email: 713-975-9602
    Web site: www.oxfordfunding.com