Risk Factors Update Summary
- Added geopolitical risks: Israel and Hamas, tensions between US-China, Iran nuclear pursuit.
- Interest rates update: Fed not increased since July 2023, analysts expect decrease in 2024.
- Impairment charges increased from $0.8 million in 2022 to $0.8 million in 2023.
- Outstanding principal balance increased from $354.2 million to $427.6 million, altering risk profile.
- Decrease in matured mortgage loans from 105 to 89, impacting financial condition.
- Loans in foreclosure increased from 40 to 56, impacting financial condition.
- Foreclosure process increased from 98 to 113 loans, affecting financial condition.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1682220&owner=exclude
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