The investment management firm Asset Recovery Cos. has merged with the hard-asset lender Yale Mortgage Funding.
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ARC is investing into 50% ownership stake in Yale Mortgage. A purchase price was undisclosed.
By completing this deal, ARC now adds equity loans, merchant cash advances and nonperforming loan pools to its product offerings.
Both Miami-based companies will continue to operate under their current names, according to a press release. Additionally, the management teams will remain unchanged, the release said.
