We will work to recover any outstanding capital and interest from the Borrower. The strategy to achieve this will vary depending on the scenario. As a first step, AltX generally works with the Borrower to coordinate an orderly exit from the loan.
If this is not achievable, AltX may consider alternative forms of enforcement (e.g. appointment of a receiver or manager or selling a property as a mortgagee in possession).
AltX works with a panel of experienced professionals who assist in facilitating this process.
All proceeds from the sale of the security properties, net of 3rd party enforcement and recovery costs, are payable to the SPV.
AltX will provide ongoing communication throughout this process to ensure investors are kept informed about their investment.