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Evest Launches New Fund To Acquire Distressed Debt.(Brief article)

Mortgage Servicing News

| February 01, 2008 | COPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Stamford, CT -- Evest Capital here, an acquisition and advisory company specializing in the structured finance industry, is raising funds to invest in subperforming mortgage assets.

Evest Capital and an affiliate, EvestMAC, closed a new equity round and two credit lines totaling $46 million with a national bank and a group of private investors through a newly established subsidiary, EvestMAC Funding II.

The company said it will apply EvestMAC's proprietary "enhanced asset recovery model" and investment methodology to extract value from pools of performing and nonperforming residential mortgage loans.

"We believe the recent turbulence in the mortgage finance industry has created a unique investment opportunity for our ...

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