What is the average term outstanding for loans of this type, when one considers some are paid off early by resale of the property or paid-off due to construction financing?
A. Historical payoff data for the servicing portfolios described above indicate an average of approximately 65 months outstanding, and the majority ranging from 58 to 72 months. This include past experience of company management. In many cases, payoff occurs sooner as a result of construction financing.
