SOURCE: Oxford Funding Corporation

June 30, 2008 07:00 ET

Oxford Funding Corp. Management Comments on Current Market Conditions

HOUSTON, TX--(Marketwire - June 30, 2008) - Oxford Funding Corporation (PINKSHEETS: OXFD)

As financial firms continue to suffer from the turmoil in the mortgage markets, many analysts believe the economy is less than half-way through the absorption and solution of the credit crisis. In addition to the problems with sub-prime and Alt-A loans that have rocked the markets since early 2007, approximately $581 billion of Option ARM loans were originated in 2005 and 2006. Many of these loans will hit their first re-sets in late 2008.

"We have seen a slow-down in available product in the second quarter," said Ron Redd, Oxford's CEO. "But in talking with many of our clients, including several Wall Street firms, it appears more product will begin to flow in the third and fourth quarters of this year. Already we have seen whole loan offerings pick up within the last week or so." Many believe that clarity on the outcome of the mortgage bailout legislation currently in Congress, coupled with additional write-downs coming for major financials, will start the flow of loan sales again.

"Since our Oxford Opportunistic Mortgage Fund road show in mid-March, we have been working with potential financial partners to position ourselves to take advantage of this opportunity," said Robert Dunn, Oxford's President. "We believe the second half of this year will present us with some great investing scenarios."

While many analysts believe the economy is in a tenuous state, and consumer confidence is at generational lows, Oxford management believes the company and its partners are well-positioned to take advantage of further write-downs in mortgage loan assets. "Our current portfolio continues to perform well in terms of returns," said Redd. "As we continue to scale our operation to a larger platform we expect the opportunities to escalate."

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 Information

  • Contact:

    Ronald C. Redd
    Robert M. Dunn
    1240 Blalock Road
    Ste. 210
    Houston, Texas 77055
    Office: 713-975-9602
    Fax: 713-978-6292
    Email Contact