OFN has Closed its First Loan Participation with ROC USA™
OFN has partnered with ROC USA™ to participate in mortgage loans to Manufactured Housing Communities converting from investor ownership to resident ownership. On June 17, 2009, OFN closed its first deal with ROC USA™. OFN purchased a $600,000 participation in a four party, mortgage loan of $5.4 MM to a newly-formed corporation, Ryder Woods Resident Association, controlled by the residents, which is a 174-unit manufactured housing community located in Milford, Connecticut.