American Homeowner Preservation (AHP) Fund

[Mark S.]

I stumbled across the American Homeowner Preservation (AHP) Fund ad on a podcast.  Upon going to their website and researching further, it appears it's a hedge fund that buys discounted mortgages and supposedly tries to let homeowner's stay in their homes (and obviously make a profit) in doing so.  This is now open to non-accredited investors (as well as accredited) for as little as $100.  They keep any profits above 12% and it appears they charge about a 2% fee plus a couple other nonsense items (based on my very brief skimming through some info).  Anyone familiar with AHP?  Thoughts?

[Quentin McNew]

This was my first webinar watched, but I didn't catch day when they would be released. I just did quick notes on my phone. 

"

AHP

1. 1. 2/23/2021 redemption requests are at April 2021. March was the surge, so mow should move faster. Resolution selling loans and taking the cash to pay back redemptions is the focus now.
2. 2. Micro loans 5k to 50k loans for owner program
3. 3. Real estate agent program to help lower income to get homes 5k to 50k loans 
4. 4. Big cash outs end of March 2021 to catch up all redemptions.
5. 5. K1 and release tax documents always unknown due to “audit” and requirements.

[Chad U.]

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

[Amanda K.]

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

I haven't received distributions for a few months on the AHP Servicing fund. Jorge does monthly updates and each month it seems to be the same excuse. Anyone else have experience with this? Thanks.

[Mark S.]

Quote from @Amanda K.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

I haven't received distributions for a few months on the AHP Servicing fund. Jorge does monthly updates and each month it seems to be the same excuse. Anyone else have experience with this? Thanks.

 AHP 2015A+ paid out its first monthly catch-up distribution in August.  They were going to try for a second, but that didn’t happen. 

AHP Servicing was also going to try to pay out its first monthly catch-up distribution by end of August and that also didn’t happen.  

Supposedly no debt on 2015A+ at this point and as of last webinar, only a few million left on Servicing (may all be paid by now).  Next webinar update is 9/15 at 1pm CST.  

[Chris Seveney]

@Mark S.

They are a regulation a+ fund so they have to submit audited financials which were due in April and have till end of month to submit their semi annual reports. People can check if they are there just do a sec Edgar search

They also have a skidrow ahp fund. Ahp title and a few other funds.

I am not an investor in the funds so I cannot comment on its performance just providing ways to check.

I also did hear ahp servicing is merging with another firm / not sure how that will work with all the investors in the fund.

[Mark F.]

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

Like someone else mentioned, they've been putting out webinars every month (next one is this Friday) but it's been a rough year for AHP. There's a lot to digest but I'll try and give an overview while missing a bunch of info I'm sure. Don't hold it against me.

They've laid off a large chunk of their staff. I think 30 to 50%? This has helped their balance sheet but obviously they're working harder. Jorge was surprised how lean they could operate (sounds like this should have done sooner).

Like someone mentioned, they're still behind on monthly distribution and redemptions. Distributions have been catching up but redemptions won't resume until all distributions have been caught up. Jorge priority is #1 pay off debt coming due in 2023, #2 catch up all distributions, #3 resume redemption request. They are 2 years behind I believe, depending on the fund.

Speaking of, one of the reasons why they're behind is because of debt coming due later this year. They've been aggressively paying it down and are on track to before the due date. The lender(s) wouldn't negotiate due to the market so this put them in a big crunch.

Business plans with certain arms of AHP haven't worked out. From memory, Skid Row isn't doing good and neither is AHP Servicing (the actual mortgage Servicing company they started, which seems to have dog sheet reviews). They've talked about merging or being bought out by another company (AHP Servicing I believe) and if/when this happens, it'll be a cash infusion.

Lastly, the market (I know most of you know this, I'm just repeating what Jorge said) is not great for them selling the notes on the secondary market to recoup capital. They, in retrospect was a bad idea, did loan mods at 3-5% for borrowers (whyyyyy?????) so now when they are reperforming and want to sell, need to go for much less than what Jorge wants to sell at to reach the yield investors want. Therefor, they aren't selling at that discount and instead just collecting monthly payments. IMO, I think is what hurt them the most. But what do I know? Not much.

I'll say again, I am missing a lot of info or some of it may be slightly inaccurate as I'm going from memory from a webinar a month ago. I'll give an update after Friday's webinar if anyones interested. BP mobile site isn't user friendly either so apologies for the typos.

Maybe I'm optimistic, but I still think I'll get my money back. They seem to be running lean enough and it appears they need to get passed one mahor hurdle, paying off the debt, to start paying out again. I'm definitely investing my money elsewhere though after this, most likely a note purchase.

The biggest risk I see is one decent size hiccup and they could be toast. It's interesting to see comments in the webinar, Jorge addresses all of them. Some are unhappy, most are supportive. I read his book as he sent me a copy. After that, but before all this went down, I asked to be cashed out. I'll leave it at that.  

[Chad U.]

Quote from @Mark F.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

@Mark F Thanks for the detailed response!  Please update any further info you may gather at the next webinar.  

@Mark F.

[Chris Seveney]

Quote from @Mark F.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

Like someone else mentioned, they've been putting out webinars every month (next one is this Friday) but it's been a rough year for AHP. There's a lot to digest but I'll try and give an overview while missing a bunch of info I'm sure. Don't hold it against me.

They've laid off a large chunk of their staff. I think 30 to 50%? This has helped their balance sheet but obviously they're working harder. Jorge was surprised how lean they could operate (sounds like this should have done sooner).

Like someone mentioned, they're still behind on monthly distribution and redemptions. Distributions have been catching up but redemptions won't resume until all distributions have been caught up. Jorge priority is #1 pay off debt coming due in 2023, #2 catch up all distributions, #3 resume redemption request. They are 2 years behind I believe, depending on the fund.

Speaking of, one of the reasons why they're behind is because of debt coming due later this year. They've been aggressively paying it down and are on track to before the due date. The lender(s) wouldn't negotiate due to the market so this put them in a big crunch.

Business plans with certain arms of AHP haven't worked out. From memory, Skid Row isn't doing good and neither is AHP Servicing (the actual mortgage Servicing company they started, which seems to have dog sheet reviews). They've talked about merging or being bought out by another company (AHP Servicing I believe) and if/when this happens, it'll be a cash infusion.

Lastly, the market (I know most of you know this, I'm just repeating what Jorge said) is not great for them selling the notes on the secondary market to recoup capital. They, in retrospect was a bad idea, did loan mods at 3-5% for borrowers (whyyyyy?????) so now when they are reperforming and want to sell, need to go for much less than what Jorge wants to sell at to reach the yield investors want. Therefor, they aren't selling at that discount and instead just collecting monthly payments. IMO, I think is what hurt them the most. But what do I know? Not much.

I'll say again, I am missing a lot of info or some of it may be slightly inaccurate as I'm going from memory from a webinar a month ago. I'll give an update after Friday's webinar if anyones interested. BP mobile site isn't user friendly either so apologies for the typos.

Maybe I'm optimistic, but I still think I'll get my money back. They seem to be running lean enough and it appears they need to get passed one mahor hurdle, paying off the debt, to start paying out again. I'm definitely investing my money elsewhere though after this, most likely a note purchase.

The biggest risk I see is one decent size hiccup and they could be toast. It's interesting to see comments in the webinar, Jorge addresses all of them. Some are unhappy, most are supportive. I read his book as he sent me a copy. After that, but before all this went down, I asked to be cashed out. I'll leave it at that.  

 As someone who runs a SEC qualified offering, reading your post and the comment:
" redemptions won't resume until all distributions have been caught up"

Typically, when redemptions are being withheld that is not a good sign. It usually means a company is underwater and trying to determine how many pennies/ nickels/dimes/quarters on the dollar they will be giving investors as if they gave full redemptions to everyone they would run out of money and most funds are pari passu. 

Caveat: I have not invested in any of their funds and just sharing my knowledge, I am not saying they are or are not in any financial stress

[Jay Hinrichs]

Quote from @Mark F.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

Like someone else mentioned, they've been putting out webinars every month (next one is this Friday) but it's been a rough year for AHP. There's a lot to digest but I'll try and give an overview while missing a bunch of info I'm sure. Don't hold it against me.

They've laid off a large chunk of their staff. I think 30 to 50%? This has helped their balance sheet but obviously they're working harder. Jorge was surprised how lean they could operate (sounds like this should have done sooner).

Like someone mentioned, they're still behind on monthly distribution and redemptions. Distributions have been catching up but redemptions won't resume until all distributions have been caught up. Jorge priority is #1 pay off debt coming due in 2023, #2 catch up all distributions, #3 resume redemption request. They are 2 years behind I believe, depending on the fund.

Speaking of, one of the reasons why they're behind is because of debt coming due later this year. They've been aggressively paying it down and are on track to before the due date. The lender(s) wouldn't negotiate due to the market so this put them in a big crunch.

Business plans with certain arms of AHP haven't worked out. From memory, Skid Row isn't doing good and neither is AHP Servicing (the actual mortgage Servicing company they started, which seems to have dog sheet reviews). They've talked about merging or being bought out by another company (AHP Servicing I believe) and if/when this happens, it'll be a cash infusion.

Lastly, the market (I know most of you know this, I'm just repeating what Jorge said) is not great for them selling the notes on the secondary market to recoup capital. They, in retrospect was a bad idea, did loan mods at 3-5% for borrowers (whyyyyy?????) so now when they are reperforming and want to sell, need to go for much less than what Jorge wants to sell at to reach the yield investors want. Therefor, they aren't selling at that discount and instead just collecting monthly payments. IMO, I think is what hurt them the most. But what do I know? Not much.

I'll say again, I am missing a lot of info or some of it may be slightly inaccurate as I'm going from memory from a webinar a month ago. I'll give an update after Friday's webinar if anyones interested. BP mobile site isn't user friendly either so apologies for the typos.

Maybe I'm optimistic, but I still think I'll get my money back. They seem to be running lean enough and it appears they need to get passed one mahor hurdle, paying off the debt, to start paying out again. I'm definitely investing my money elsewhere though after this, most likely a note purchase.

The biggest risk I see is one decent size hiccup and they could be toast. It's interesting to see comments in the webinar, Jorge addresses all of them. Some are unhappy, most are supportive. I read his book as he sent me a copy. After that, but before all this went down, I asked to be cashed out. I'll leave it at that.  

seems to me and I of course have no idea of details.  but reminds me of 08 when credit got tight and or stopped and perfectly good syndicators were in a bind when debt came due and of course it was worse then than now but it seems like deja vu all over again..  ???

[Jay Hinrichs]

Quote from @Chad U.:

Quote from @Mark F.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

@Mark F Thanks for the detailed response!  Please update any further info you may gather at the next webinar.  

@Mark F.

 chad good morning. what did AHP do .. were they buying defaulted paper and then trying to do note mods with the homeowners in mass scale ? 

[Chad U.]

Quote from @Jay Hinrichs:

Quote from @Chad U.:

Quote from @Mark F.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

@Mark F Thanks for the detailed response!  Please update any further info you may gather at the next webinar.  

@Mark F.

 chad good morning. what did AHP do .. were they buying defaulted paper and then trying to do note mods with the homeowners in mass scale ? 

 Hey Jay, good to see you. Yes they set up a crowdfund and bought thousands of defaulted loans with the intent of getting them re-performing again. They also set up their own mortgage servicing arm to do it in-house, as opposed to farming it out to a third party.  I wasn't aware that they brought on additional debt to fund everything.

[Jay Hinrichs]

Quote from @Chad U.:

Quote from @Jay Hinrichs:

Quote from @Chad U.:

Quote from @Mark F.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

@Mark F Thanks for the detailed response!  Please update any further info you may gather at the next webinar.  

@Mark F.

 chad good morning. what did AHP do .. were they buying defaulted paper and then trying to do note mods with the homeowners in mass scale ? 

 Hey Jay, good to see you. Yes they set up a crowdfund and bought thousands of defaulted loans with the intent of getting them re-performing again. They also set up their own mortgage servicing arm to do it in-house, as opposed to farming it out to a third party.  I wasn't aware that they brought on additional debt to fund everything.

 gothca well i dont know about them but my personal experience with reperforming is about a 50% better default rate on the reperformers.. so really important to have a very low basis as your going to be foreclosing and owning and rehabbing a lot of properties .. again at least what I ran into when I was buying sub too defaulted deals. 

[Amanda K.]

Quote from @Jay Hinrichs:

Quote from @Chad U.:

Quote from @Jay Hinrichs:

Quote from @Chad U.:

Quote from @Mark F.:

Quote from @Chad U.:

It's been a few years since anyone has posted here about their investment.  Curious to here if anyone has recent experiences to share, as I've heard they may be in financial trouble.  

@Mark F Thanks for the detailed response!  Please update any further info you may gather at the next webinar.  

@Mark F.

 chad good morning. what did AHP do .. were they buying defaulted paper and then trying to do note mods with the homeowners in mass scale ? 

 Hey Jay, good to see you. Yes they set up a crowdfund and bought thousands of defaulted loans with the intent of getting them re-performing again. They also set up their own mortgage servicing arm to do it in-house, as opposed to farming it out to a third party.  I wasn't aware that they brought on additional debt to fund everything.

 gothca well i dont know about them but my personal experience with reperforming is about a 50% better default rate on the reperformers.. so really important to have a very low basis as your going to be foreclosing and owning and rehabbing a lot of properties .. again at least what I ran into when I was buying sub too defaulted deals. 

I wasn't able to attend the webinar on Friday. Was anyone able to attend and wouldn't mind sharing some updates? Thanks in advance.

[Doug Smith]

Is this Jorge Newberry's outfit? It's been a few years, but I had the opportunity to serve on a panel or two at IMN Conferences with Jorge and he's top notch. I've not done business with his fund directly, but Jorge has a good rep and, from what I've witnessed, he does it right. 

[Paul Chapey]

Quote from @Amanda K.:least what I ran into when I was buying sub too defaulted deals. 

I wasn't able to attend the webinar on Friday. Was anyone able to attend and wouldn't mind sharing some updates? Thanks in advance.

I'd also appreciate any comments on Friday's webinar. I requested a link to the replay but haven't gotten a response. They are usually pretty quick on sending out replay links. Maybe if a few more people ask for it, they'll post the link.

[Mark F.]

Just watched the webinar replay. Here's my summary with no opinions. It was about 20 minutes long with the rest of the time, an hour, Jorge answering questions and comments. I am summarizing all of this and may be missing details.

Extreme cost cutting mode is what Jorge opened up with. They had approximately 50 employees or so employees before all of this, they are down to about 15 employees with plans to go down to 5 employees in the next month.

AHP Servicing is down to 1 mil in debt owed, from 3 mil last month. They anticipate paying it all off by the next webinar. The plan is to pay the debt down (it is due at the end of the year), pay back vendors (I forgot about this on my last post. They owe their vendors money and are on a cash basis for the vendors for work going forward until debts are caught up), then catch up on distributions, then redemptions. Jorge did not give a timeline on when redemptions would start other than he doesn't think they'd be done by the end of the year. He feels very confident distributions would start before the end of the year. They have a few closings coming up they anticipate will pay off the 1 mil debt.

AHP Servicing is entering strategic partnerships with two companies. At a high level, this will let AHP run leaner, taking the entity from running in the red to black. Jorge vision of having AHP Servicing hasn't worked out the way he thought it would. One company will use AHP for all of their licenses. Once the partnership goes through, AHP will not be servicing loans. CMS is one of the companies they are partnering with. Privocorp is the other. Jorge went into details on both o these partnerships.

AHP2015 has no debt in regards to vendors, etc. Still trying to get through some sales to generate cash. Talked about the US Supreme court recent ruiling.

AHP Title is in a partnership with another company, which they bought around 40%. They want to exercise their option to buy a majority stake but have not done so yet.

PreREO is in talks with two companies for a partnership but he thinks will happen in the coming weeks.  

Jorge is putting out a letter in a week or two with specific numbers people are asking about.

Jorge still feels confident they can pay all their obligations and move forward.

[Jay Hinrichs]

Quote from @Mark F.:

Just watched the webinar replay. Here's my summary with no opinions. It was about 20 minutes long with the rest of the time, an hour, Jorge answering questions and comments. I am summarizing all of this and may be missing details.

Extreme cost cutting mode is what Jorge opened up with. They had approximately 50 employees or so employees before all of this, they are down to about 15 employees with plans to go down to 5 employees in the next month.

AHP Servicing is down to 1 mil in debt owed, from 3 mil last month. They anticipate paying it all off by the next webinar. The plan is to pay the debt down (it is due at the end of the year), pay back vendors (I forgot about this on my last post. They owe their vendors money and are on a cash basis for the vendors for work going forward until debts are caught up), then catch up on distributions, then redemptions. Jorge did not give a timeline on when redemptions would start other than he doesn't think they'd be done by the end of the year. He feels very confident distributions would start before the end of the year. They have a few closings coming up they anticipate will pay off the 1 mil debt.

AHP Servicing is entering strategic partnerships with two companies. At a high level, this will let AHP run leaner, taking the entity from running in the red to black. Jorge vision of having AHP Servicing hasn't worked out the way he thought it would. One company will use AHP for all of their licenses. Once the partnership goes through, AHP will not be servicing loans. CMS is one of the companies they are partnering with. Privocorp is the other. Jorge went into details on both o these partnerships.

AHP2015 has no debt in regards to vendors, etc. Still trying to get through some sales to generate cash. Talked about the US Supreme court recent ruiling.

AHP Title is in a partnership with another company, which they bought around 40%. They want to exercise their option to buy a majority stake but have not done so yet.

PreREO is in talks with two companies for a partnership but he thinks will happen in the coming weeks.  

Jorge is putting out a letter in a week or two with specific numbers people are asking about.

Jorge still feels confident they can pay all their obligations and move forward.

out of sheer curiosity what is the Supreme court decision about ?

[Paul Chapey]

Quote from @Mark F.:

Just watched the webinar replay. Here's my summary with no opinions. It was about 20 minutes long with the rest of the time, an hour, Jorge answering questions and comments. I am summarizing all of this and may be missing details.

Extreme cost cutting mode is what Jorge opened up with. They had approximately 50 employees or so employees before all of this, they are down to about 15 employees with plans to go down to 5 employees in the next month.

AHP Servicing is down to 1 mil in debt owed, from 3 mil last month. They anticipate paying it all off by the next webinar. The plan is to pay the debt down (it is due at the end of the year), pay back vendors (I forgot about this on my last post. They owe their vendors money and are on a cash basis for the vendors for work going forward until debts are caught up), then catch up on distributions, then redemptions. Jorge did not give a timeline on when redemptions would start other than he doesn't think they'd be done by the end of the year. He feels very confident distributions would start before the end of the year. They have a few closings coming up they anticipate will pay off the 1 mil debt.

AHP Servicing is entering strategic partnerships with two companies. At a high level, this will let AHP run leaner, taking the entity from running in the red to black. Jorge vision of having AHP Servicing hasn't worked out the way he thought it would. One company will use AHP for all of their licenses. Once the partnership goes through, AHP will not be servicing loans. CMS is one of the companies they are partnering with. Privocorp is the other. Jorge went into details on both o these partnerships.

AHP2015 has no debt in regards to vendors, etc. Still trying to get through some sales to generate cash. Talked about the US Supreme court recent ruiling.

AHP Title is in a partnership with another company, which they bought around 40%. They want to exercise their option to buy a majority stake but have not done so yet.

PreREO is in talks with two companies for a partnership but he thinks will happen in the coming weeks.  

Jorge is putting out a letter in a week or two with specific numbers people are asking about.

Jorge still feels confident they can pay all their obligations and move forward.

Thank you Mark. That is really a great summary. I sincerely appreciate you doing that.

[Mark F.]

Quote from @Jay Hinrichs:

Quote from @Mark F.:

Just watched the webinar replay. Here's my summary with no opinions. It was about 20 minutes long with the rest of the time, an hour, Jorge answering questions and comments.

out of sheer curiosity what is the Supreme court decision about ?

 https://www.wgbh.org/news/local/2023-05-26/supreme-court-ruling-on-municipal-foreclosures-will-preserve-equity-for-massachusetts-homeowners

[Jay Hinrichs]

Quote from @Mark F.:

Quote from @Jay Hinrichs:

Quote from @Mark F.:

Just watched the webinar replay. Here's my summary with no opinions. It was about 20 minutes long with the rest of the time, an hour, Jorge answering questions and comments.

out of sheer curiosity what is the Supreme court decision about ?

 https://www.wgbh.org/news/local/2023-05-26/supreme-court-ruling-on-municipal-foreclosures-will-preserve-equity-for-massachusetts-homeowners

thank you will give it a a read appreciate it.!!

[Chris Seveney]

Quote from @Mark F.:

Just watched the webinar replay. Here's my summary with no opinions. It was about 20 minutes long with the rest of the time, an hour, Jorge answering questions and comments. I am summarizing all of this and may be missing details.

Extreme cost cutting mode is what Jorge opened up with. They had approximately 50 employees or so employees before all of this, they are down to about 15 employees with plans to go down to 5 employees in the next month.

AHP Servicing is down to 1 mil in debt owed, from 3 mil last month. They anticipate paying it all off by the next webinar. The plan is to pay the debt down (it is due at the end of the year), pay back vendors (I forgot about this on my last post. They owe their vendors money and are on a cash basis for the vendors for work going forward until debts are caught up), then catch up on distributions, then redemptions. Jorge did not give a timeline on when redemptions would start other than he doesn't think they'd be done by the end of the year. He feels very confident distributions would start before the end of the year. They have a few closings coming up they anticipate will pay off the 1 mil debt.

AHP Servicing is entering strategic partnerships with two companies. At a high level, this will let AHP run leaner, taking the entity from running in the red to black. Jorge vision of having AHP Servicing hasn't worked out the way he thought it would. One company will use AHP for all of their licenses. Once the partnership goes through, AHP will not be servicing loans. CMS is one of the companies they are partnering with. Privocorp is the other. Jorge went into details on both o these partnerships.

AHP2015 has no debt in regards to vendors, etc. Still trying to get through some sales to generate cash. Talked about the US Supreme court recent ruiling.

AHP Title is in a partnership with another company, which they bought around 40%. They want to exercise their option to buy a majority stake but have not done so yet.

PreREO is in talks with two companies for a partnership but he thinks will happen in the coming weeks.  

Jorge is putting out a letter in a week or two with specific numbers people are asking about.

Jorge still feels confident they can pay all their obligations and move forward.

 if you are an investor a question you may want to ask them is when will they be submitting their 1-K and 1-SA to the SEC. the 1-K are the audited financials which is really what people should want to see as that will give you the financial picture on not only debt owed but available equity. 

As an example a company may have no debt, but if it paid 50 people $5M/year and only generated $1M/year in revenue the shareholder valuation is way down even though there is no debt. So something to consider. Another way to ask it is what was the latest NAV for the shares.

[Andrew Frishman]

Just some feedback for the group regarding AHP fund investment.

I Invested in AHP fund. November of 2020

I have been requesting my funds back since 07 / 2023 (see below)

I haven't received a distribution on my investment since July /2023.

Every time i call to get my funds returned, they say..."sometime next month", for the last 4 months!!.

[Chris Seveney]

@Andrew Frishman

Which fund? I heard the servicing company laid off most employees and transferred the loans to another servicer (in some sort of agreement). I would assume they published it on sec website.

If you are in that fund I would not expect your full amount coming back to you. Hopefully you get something back.

[Mark S.]

Quote from @Chris Seveney:

@Andrew Frishman

Which fund? I heard the servicing company laid off most employees and transferred the loans to another servicer (in some sort of agreement). I would assume they published it on sec website.

If you are in that fund I would not expect your full amount coming back to you. Hopefully you get something back.

Watch the investor webinar replay.  

[Chris Seveney]

@Mark S.

I am not an investor in the fund(s). I have bought loans from AHP and it’s a very small space so there is a lot of talk about it at conferences etc