Oxford Funding Corp., Houston, has announced an agreement with an unnamed major U.S. mortgage lender under which Oxford will acquire a $3 million portfolio of underperforming loans at a substantial discount to market.Ronald Redd, Oxford's chief executive officer, said Oxford hopes to make additional portfolio acquisitions from the lender over the next several months. Citing the subprime crisis, Oxford said it plans to acquire performing, underperforming, and nonperforming loans that it will "restructure and rehabilitate." The company can be found on the Web at http://www.oxfordfunding.com.
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