Pipeline / HEI-2025-007

HEI-2025-007

Funded Risk Grade A-
321 Elm St, Portland, OR 97214
Investment
$119,500
13.4% of value
Option %
30.2%
of appreciation
Base Case IRR
5.8%
1.48× MOIC at yr 7
Term / Maturity
10 yr
Matures Jan 20, 2035

Projected Returns

ScenarioHPAExit ValueFEQ ShareInvestor NetMOICIRR
Downside 0.5%$922,441$129,058$118,7330.99×-0.1%
Base Case BASE3.5%$1,133,336$192,748$177,3281.48×5.8%
Upside 6.0%$1,339,422$254,986$234,5871.96×10.1%
Strong Upside 8.5%$1,576,829$326,683$300,5492.52×14.1%
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
1979
Living Area
2,613 sqft
Lot Size
6,387 sqft
Beds / Baths
5 / 2
Occupancy
Primary Residence
Years in Home
19 yrs
Valuation Method
Full Appraisal (URAR 1004)
Appraised Value
$890,792
AVM Value
$877,775
1st Lien Balance
$343,491
CLTV after HEI
52.0%

Borrower Profile

Anonymized · ID AW-2280
FICO
748
DTI
39.7%
Annual Income
$236,500
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 Jan 24, 2025
  5. Funded Jan 20, 2025
  6. Servicing Active Jan 21, 2025

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
  • Funding wire released
    Treasury
    Jan 20, 2025
  • Deal assigned to Fund II — Tranche A
    System
    Jan 21, 2025

Terms

Investment Amount
$119,500
Starting Home Value
$890,792
Option Percentage
30.2%
Appreciation Cap
17.5% / yr
Initial LTV
13.4%
CLTV
52.0%
Term
10 years
Origination
Jan 20, 2025
Funded
Jan 20, 2025
Maturity
Jan 20, 2035

Risk & Market

Risk Grade
A-
MSA HPA (1y)
4.4%
MSA HPA (5y avg)
4.2%
MSA Unemployment
5.1%
MSA Foreclosure Rate
0.77%

Documents

  • HEI-2025-007-Appraisal-URAR.pdf
    Appraisal · 3.2 MB
  • HEI-2025-007-Title-Commitment.pdf
    Title · 1.1 MB
  • HEI-2025-007-HEI-Agreement.pdf
    Contract · 842 KB
  • HEI-2025-007-Preliminary-CD.pdf
    Closing · 512 KB
  • HEI-2025-007-Property-Photos.zip
    Media · 12.4 MB
  • HEI-2025-007-Investor-Term-Sheet.pdf
    Investor · 284 KB

Deal Team

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