Seneca Mortgage Investments is planning to acquire AMS Servicing, a national specialty servicer for residential and small balance commercial mortgages.
AMS, based in the Buffalo, N.Y., suburb of Depew, specializes in high-risk real estate secured loan portfolios and component default servicing.
The sale is expected to close within the next several months.
Seneca was recently founded by three real estate investment veterans in New York.
The newly formed joint venture of Arbor, affiliates of GSO Capital Partners, which specializes in mezzanine, distressed and other special situation investing and manages roughly $62 billion in assets, and EJF Capital, co-founded in September 2005 by Neal Wilson and 35-year industry veteran Emanuel Friedman, is an independent, employee-owned alternative investment advisory firm.
In addition to customized solutions for the residential mortgage market, Seneca will focus on
