Anatomy of an Actium Loan: Loan Secured by Seven Homes

Actium made a loan secured by seven single-family homes in Salt Lake County, Utah. All of the homes were recently purchased for cash by the borrower who needed funds for an investment he was making. As we researched the values on the properties we determined that the purchase price was an appropriate indication of value for five of the properties and our conservative nature caused us to discount the value on the other two homes. We lent 63% of our value determination and received a 2% origination fee and 12% interest for this one-year loan.