MACC Reports Funding Pact

Published October 31, 2007, 3:00 p.m. EDT

1 Min Read

Mortgage Assistance Center Corp., Dallas, has announced the signing of a $50 million funding agreement with an unnamed Dallas-based investment fund.The funding will be used to acquire pools of distressed residential real estate and residential mortgages through joint ventures formed with the investment fund, MACC said. The company said it has agreed to grant the investment fund a warrant to purchase up to one-third of MACC's common stock. MACC can be found online at http://www.mac-tx.com.

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