Pipeline / HEI-2025-012

HEI-2025-012

In Review Risk Grade B
456 Oak Ave, Denver, CO 80203
Investment
$130,000
16.5% of value
Option %
37.2%
of appreciation
Base Case IRR
5.8%
1.48× MOIC at yr 7
Term / Maturity
10 yr
Matures Feb 1, 2035

Projected Returns

ScenarioHPAExit ValueFEQ ShareInvestor NetMOICIRR
Downside 0.5%$814,469$140,396$129,1640.99×-0.1%
Base Case BASE3.5%$1,000,678$209,665$192,8921.48×5.8%
Upside 6.0%$1,182,641$277,356$255,1671.96×10.1%
Strong Upside 8.5%$1,392,259$355,333$326,9072.51×14.1%
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: 20.0% annualized.

Property & Valuation

Property Type
Single Family Residence
Year Built
2001
Living Area
2,961 sqft
Lot Size
6,286 sqft
Beds / Baths
3 / 2
Occupancy
Primary Residence
Years in Home
12 yrs
Valuation Method
Full Appraisal (URAR 1004)
Appraised Value
$786,524
AVM Value
$772,493
1st Lien Balance
$342,076
CLTV after HEI
60.0%

Borrower Profile

Anonymized · ID JD-1932
FICO
700
DTI
40.0%
Annual Income
$179,000
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
$130,000
Starting Home Value
$786,524
Option Percentage
37.2%
Appreciation Cap
20.0% / yr
Initial LTV
16.5%
CLTV
60.0%
Term
10 years
Origination
Feb 1, 2025
Funded
—
Maturity
Feb 1, 2035

Risk & Market

Risk Grade
B
MSA HPA (1y)
4.5%
MSA HPA (5y avg)
4.4%
MSA Unemployment
3.1%
MSA Foreclosure Rate
0.82%

Documents

  • HEI-2025-012-Appraisal-URAR.pdf
    Appraisal · 3.2 MB
  • HEI-2025-012-Title-Commitment.pdf
    Title · 1.1 MB
  • HEI-2025-012-HEI-Agreement.pdf
    Contract · 842 KB
  • HEI-2025-012-Preliminary-CD.pdf
    Closing · 512 KB
  • HEI-2025-012-Property-Photos.zip
    Media · 12.4 MB
  • HEI-2025-012-Investor-Term-Sheet.pdf
    Investor · 284 KB

Deal Team

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