Five Oaks Investment Corp. said that David Akre has joined the senior management team of Oak Circle Capital Partners, the company's external manager, as a managing director.
He will have primary responsibility for developing opportunities in the residential mortgage market.
Akre has experience in the residential mortgage loan market, including whole loan acquisition, credit underwriting, securitization, hedging and financing. He was previously co-CEO, vice chairman, director and co-founder of New York Mortgage Trust, and prior to that was vice president of capital markets, bulk acquisitions and secondary markets at Thornburg Mortgage Inc.
David Carroll, chairman and CEO of the company, said in a press release, "We are looking forward to participating in the recapitalization of the private mortgage market, and David's in-depth experience and background will help us to build out our capabilities in this regard."
