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...One of the latest of such deals came this week, when Ares Management agreed to buy $3.5bn in speciality finance loans from PacWest, a Los Angeles-based lender that was plunged into hot water after SVB’s...
...For example, mortgage bond investors frustrated with BofA’s handling of their home loans have driven America’s once-largest mortgage servicer to subcontract mortgages to smaller speciality servicers....
...He is a very canny financial investor who has made a speciality out of distressed assets....
...Preceding AmTech (now Gleacher & Co.), Mr Schreiner was co-founder/portfolio manager at MS Capital Management, LLC, a Phoenix-based hedge fund....
...The disposal leaves GMAC with only a speciality unit focused on structured finance within its commercial lending operations, as well as a European portfolio, which it is winding down....
...The UK’s ninth largest bank by assets lends roughly 20 per cent of all mortgages to landlords in the UK, a similar share to HBOS, and has restructured to its business around speciality mortgages....
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