SOURCE: Oxford Funding Corporation

July 15, 2008 07:00 ET

Oxford Reviews Possible Mortgage Banking Acquisition

HOUSTON, TX--(Marketwire - July 15, 2008) - Oxford Funding Corp. (PINKSHEETS: OXFD) is reviewing information supplied under a confidentiality agreement in connection with the possible acquisition of a mortgage banking company located on the East Coast. The potential acquisition candidate is a licensed FHA lender in excess of 30 states, and operates with an active multi-location lending operation and an automated underwriting engine.

Oxford management would like to add the FHA lending piece as a further development of its multi-piece liquidation strategy in connection with the loans it acquires on a bulk basis. "FHA provides the best way to refinance many of the loans we acquire," said Ron Redd, Oxford's CEO. "Refinancing is our best execution on the loans we purchase, and this would give us complete control over the process. Currently, we outsource this effort. Operating our own lending platform would allow us better results in terms of the liquidation proceeds on our loan portfolios."

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
    1240 Blalock Road, Ste. 210
    Houston, Texas 77055
    Office: 713-975-9602
    Fax: 713-978-6292
    Email Contact