Deal of the Week
Non Performing Mortgage Loan
This past week has been a busy week for CWS Investments Inc on the acquisition front.
Our week was highlighted with this non-performing mortgage loan in Henderson, Nevada. We acquired this loan for $1.18M which has a total balance owed of approximately $1.4M. The borrower is six months behind on payments and has currently listed the home for sale for $2.4M.
Based on the property valuation, this loan appears to be fully secured by our investment with a conservative acquisition price to value of 49%. This low acquisition price to value fits within our business model of acquiring mortgage loans with significant equity to balance the risk of acquiring non performing loans.
