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Savills LLC (“Savills”) is the exclusive financial advisor to Textron Financial Corporation (“Textron”) for the UCC foreclosure sale of 6,192 secured and unsecured consumer timeshare loans (each a “Timeshare Loan”) (having an aggregate outstanding principal balance of approximately $29,167,000 as of July 31, 2011; the aggregate principal balance of such consumer timeshare loans may increase or decrease between July 31,2011 and the time of the public sale) arising from sales of timeshare units at the Split Rock Resort & Golf Club, Lake Harmony, PA and the Mountain Laurel Resort & Spa, Lake Harmony, PA (collectively the “Resorts”), securing Textron’s Inventory and Receivables Loans (the “Borrower Loans”).
- Total outstanding principal balance of $29,166,977 as of July 31, 2011
- Pool of 6,192 consumer receivable loans, financing the purchase of timeshare interests
- Weighted Average FICO: 649
- East-coast based resort and borrower base
- Good remaining term – weighted average time to maturity: 60 months
- Well seasoned portfolio – weighted average time since origination: 31 months
- Strong performance – 92% < 30 days
- High yield – weighted average coupon: 14%
The information contained herein, and any financial information disseminated by Savills in connection with the sale (collectively, the “information”) does not constitute any representation, warranty or guaranty regarding the interest to be sold.