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Debut manager is launching a CLO platform building on leveraged loan market experience
Andrew Burgess worked at Prytania for 16 years
Public versus private distinction scrapped for disclosure plus new, simplified templates for mature asset classes
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Metro Funding Corp. is looking to hire 10 people in the next six months and grow its commercial real estate lending business by around 30%. The company led $35 million in loans last year. David Hecht, president of MFC, told Total Securitization the firm is looking to play bigger. “The concept in the long run is to penetrate the semi-conventional market and to compete with the big banks,” Hecht said. .
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Johannes Boeckmann, who led Eurohypo’s commercial mortgage lending business in the U.S., has resigned.
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ING Investment Management Americas this summer will start marketing its fixed-income hedge fund, which dips into MBS, CMBS and ABS.
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Deloitte is upsizing its structured finance effort with three hires in its securitization practice in the U.K.
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Elissar Boujaoude has joined Trust Company of the West as a senior v.p. focusing on non-U.S. credit strategic planning.
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ACA Capital has hired Robert Moravec from ING as a v.p., corporate credit. Moravec will report to John Haltmaier, managing director.
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New York Mortgage Trust has sold its mortgage lending platform to IndyMac for $13.5 million, a decision made on the back of increasing Alt-A defaults and challenges within mortgage lending.
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Deutsche Bank has reshuffled the senior management of its securitized products group. Frank Byrne and Eric Falk have been promoted to co-heads of global securitized products, reporting to Richard d’Albert.
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Accredited Home Lenders Holding Co., the San Diego-based mortgage company specializing in non-prime residential mortgage loans, has closed its $230 million term loan facility with San Francisco-based Farallon Capital Management. The loans under the facility have a five-year term and may be repaid by Accredited at any time over the life of the loan, subject to certain conditions and prepayment fees. The loans are secured by a pledge of certain subsidiaries, including all domestic subsidiaries and a security interest over certain assets.