Navidec Financial Services Inc., Denver, has announced the formation of a wholesale mortgage lending company for correspondent mortgage banks in the West. The new company, Jaguar Investment Group LLC, was formed by Navidec affiliate Northsight Inc. in conjunction with Jaguar Group LLC. Each will contribute $400,000 in capital in exchange for 50% membership interests in the company, Navidec said. "We are seeing one of the greatest dislocations in U.S. residential real estate history," said Navidec president John McKowen. "That dislocation has created illiquidity for financial institutions and correspondingly exceptional values for homebuyers and real estate investors."
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