There's talk that an Irvine-based company called Roosevelt Management has received significant backing from Texas Pacific Group to buy distressed residential mortgage loans and has been quite active lately. A few of Roosevelt's top executives used to work at C-BASS. (Recently, National Mortgage News reported that another group of former C-BASS honchos are working on a jumbo conduit.) Meanwhile, we've also picked up intelligence that a $1 billion auction of nonperforming residential loans may be coming down the pike soon. Stay tuned…
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