secwatch.observer — SEC 8-K summary
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Issuer:     Redwood Mortgage Investors IX (—)
CIK:        0001448038
Form:       8-K
Filed at:   2024-04-16T23:59:59+00:00
Accession:  0001193125-24-097879
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Redwood Mortgage IX extends $10M credit line to 2026, shifts rate to Term SOFR+3.5%
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- Maturity extended to March 13, 2026; optional 2-year term loan conversion to March 2028 for 0.25% fee on outstanding balance.
- Interest rate benchmark switched from 30-day Ameribor to 1-month Term SOFR plus 3.5%, floor of 6%.
- Maximum line of credit $10M, secured by first-priority lien on pledged loan notes and deeds of trust.
- Borrower paid $50,000 origination fee; modification effective March 13, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1448038/000119312524097879/0001193125-24-097879-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1448038/000119312524097879/d815425d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-097879

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