|
|
Komfie Manalo, Opalesque Asia: The asset management unit of NewOak, a U.S.-based financial advisory firm, announced the launch of a new private fund that focuses on buying newly originated, nonqualified residential mortgages with slightly weaker credit than a traditional prime jumbo loan.
Described as a hedge fund, the Super Jumbo Mortgage Acceptance Corp. (SJMAC) was launched with a significant amount of capital, according to National Mortgage News. SJMAC will buy non-QM loans but will also look for a leverage provider, including a bank or even insurance company. NewOak’s managing partner Ray Jahaly will be the main contact person for the new fund.
Investors, struggling with persistently low rates are seeking out riskier and higher-yielding securities, like the ones SJMAC wants to buy, the paper comments.
NewOak, a financial advisory firm specializing in mortgage risk analytics, regulatory compliance, risk management and financial litigation consulting, is headquartered in New York. Yesterday, the firm announced the opening of new offices in Atlanta, Boston and Irvine, Calif.
Last week, NewOak announced the launch of its new ...................... To view our full article Click here
|
|
RSS
