Pipeline / HEI-2025-005

HEI-2025-005

In Review Risk Grade A
456 Oak Ave, Denver, CO 80203
Investment
$77,000
14.8% of value
Option %
33.3%
of appreciation
Base Case IRR
5.8%
1.48× MOIC at yr 7
Term / Maturity
15 yr
Matures Feb 1, 2040

Projected Returns

ScenarioHPAExit ValueFEQ ShareInvestor NetMOICIRR
Downside 0.5%$538,019$83,147$76,4950.99×-0.1%
Base Case BASE3.5%$661,024$124,108$114,1791.48×5.8%
Upside 6.0%$781,225$164,135$151,0041.96×10.1%
Strong Upside 8.5%$919,693$210,245$193,4252.51×14.1%
Scenarios model exit at year 7 assuming constant HPA. Investor net is gross of fund-level carry and net of servicing and origination fees. Appreciation cap: 17.5% annualized.

Property & Valuation

Property Type
Single Family Residence
Year Built
1983
Living Area
2,713 sqft
Lot Size
8,653 sqft
Beds / Baths
3 / 3
Occupancy
Primary Residence
Years in Home
13 yrs
Valuation Method
Full Appraisal (URAR 1004)
Appraised Value
$519,559
AVM Value
$509,099
1st Lien Balance
$216,886
CLTV after HEI
56.6%

Borrower Profile

Anonymized · ID JD-1932
FICO
788
DTI
31.1%
Annual Income
$223,000
Occupancy
Primary Residence

Deal Timeline

  1. Application Submitted Jan 8, 2025
  2. Underwriting Review Jan 14, 2025
  3. Appraisal & Title Jan 20, 2025
  4. Approved —
  5. Funded —
  6. Servicing Active —

Activity Log

  • Application received via POS
    System
    Jan 8, 2025
  • Initial underwriting pass — cleared
    Sarah Chen (UW)
    Jan 10, 2025
  • Appraisal ordered
    Mike Alvarez (Ops)
    Jan 14, 2025
  • Appraisal received at $—
    ValueCheck LLC
    Jan 20, 2025
  • Title commitment received, no exceptions
    First American
    Jan 22, 2025
  • Approval memo issued to investor pool
    Credit Committee
    Jan 24, 2025

Terms

Investment Amount
$77,000
Starting Home Value
$519,559
Option Percentage
33.3%
Appreciation Cap
17.5% / yr
Initial LTV
14.8%
CLTV
56.6%
Term
15 years
Origination
Feb 1, 2025
Funded
—
Maturity
Feb 1, 2040

Risk & Market

Risk Grade
A
MSA HPA (1y)
9.5%
MSA HPA (5y avg)
8.0%
MSA Unemployment
5.6%
MSA Foreclosure Rate
0.65%

Documents

  • HEI-2025-005-Appraisal-URAR.pdf
    Appraisal · 3.2 MB
  • HEI-2025-005-Title-Commitment.pdf
    Title · 1.1 MB
  • HEI-2025-005-HEI-Agreement.pdf
    Contract · 842 KB
  • HEI-2025-005-Preliminary-CD.pdf
    Closing · 512 KB
  • HEI-2025-005-Property-Photos.zip
    Media · 12.4 MB
  • HEI-2025-005-Investor-Term-Sheet.pdf
    Investor · 284 KB

Deal Team

Deal Lead
Marcus Reed — marcus@foundationeq.com
Credit Officer
Sarah Chen — sarah@foundationeq.com