Mortgage Assistance Center Buys $3.3 Million Loan Pool
Mortgage Assistance Center Corp. has purchased a $3.3 million pool of residential assets.
"Our recent agreement this past October with a large Dallas-based investment fund, which provided for up to what is now $75 million in funding, has positioned us to take advantage of the many opportunities like this one in the distressed subprime market," said Ron Johnson, president and CEO of MAC, in a news release.
"We're ready to do business. We have the funds, the infrastructure, and an experienced, professional staff that's ready to handle additional acquisitions."
The pool, which involves properties in 12 states, is the second multimillion-dollar acquisition by MAC since October.
Texas-based Mortgage Assistance Center, which was founded in 2003, focuses on the acquisition, workout and profitable sale of distressed real estate assets in the secondary market. (c) 2008 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/