CV Holdings, Inc. announces the completion of the first securitization of non-performing loans (NPLs) by its NPL joint venture WestVue NPL Ventures LLC.

Nov 09, 2015, 16:23 ET from CV Holdings, Inc.

NEWPORT BEACH, Calif., Nov. 9, 2015 /PRNewswire/ -- CV Holdings, Inc. (Other OTC: CVHL) today reported that on November 6, 2015 its joint venture, WestVue NPL Ventures LLC, completed its first securitization of residential non-performing loans. The bond structure was an A-1 bond of $61,000,000; an M bond of $13,000,000 and a Trust Certificate of $55,468,608. The coupon for the A-1 bond was 4.5% priced to yield  5.47%; a step up in rate after year two if not called by the issuer; and a five year hard maturity.  The Company is extremely pleased with this first issuance because it believes that securitization complements its continued strategy of investing in the residential NPL portfolios and enhances its ability to undertake additional securitizations in the future.

About CV Holdings, Inc. We have two business units, our legacy business as a commercial real estate specialty finance company primarily focused on managing a diversified portfolio of commercial real estate-related loans and securities, and our current business focused on residential non-performing loans (NPLs).

Our Common Stock is currently quoted on the OTC Markets Group, or OTC Markets.  While not a requirement, the OTC Markets Group encourages companies having their securities quoted thereon to provide adequate current information in accordance with its disclosure guidelines.  We will evaluate the need to issue press releases containing information similar to the information disclosed herein.  We do not undertake any obligation nor do we give any assurance that we will provide timely periodic disclosures or any public disclosure at all.  The information provided in this press release is not complete and does not purport to be complete.

We elected to qualify as a real estate investment trust, or REIT, for U.S. federal income tax purposes commencing with the taxable year ended December 31, 2005. We currently intend to continue to qualify as a REIT. As a REIT, we generally will not be subject to U.S. federal income tax on that portion of our income that we distribute to our stockholders for so long as we continue to qualify as a REIT, including distributing at least 90% of our annual "REIT taxable income" to our stockholders. We conduct our operations so as to not be or become regulated as an investment company under the Investment Company Act of 1940. The Company has not had federal taxable income since 2007 and does not expect any federal taxable income in the foreseeable future.

Forward-Looking Information and Other Information This press release contains forward-looking statements based upon the Company's beliefs, assumptions and expectations of its future performance, taking into account all information currently available. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the Company or are within its control. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in its forward-looking statements.

The factors that could cause actual results to vary from the Company's forward-looking statements include: the market for the bond structure described above, the ability of the WestVue joint venture to comply with its obligations under the bonds, the Company's ability to identify attractive investments agreeable to the Company and its major stockholders; the success of the Company's current NPL business and the WestVue joint venture generally, as disclosed in prior releases; the Company's ability to redeem its outstanding shares of preferred stock when and as they become due; the availability of attractive NPL investments; the U.S. general economy; the Company's liquidity and ability to continue to cover its operating cash requirements; the Company's future operating results; its business operations and prospects; availability, terms and deployment of short-term and long-term capital; availability of qualified employees; changes in interest rates; adverse development in the debt securities, credit and capital markets, adverse developments in the commercial finance and real estate markets; performance and financial condition of borrowers and corporate customers; any future litigation that may arise; the ultimate resolution of the Company's numerous defaulted loans; the performance of the Company's joint venture investments; and the ability to continue as a going concern. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

SOURCE CV Holdings, Inc.



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