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Global Atlantic acquires majority stake in eRESI Mortgage

13th October 2021 - Author: Katie Baker

Life and annuity insurer The Global Atlantic Financial Group (Global Atlantic) has made a strategic investment and capital commitment to become eRESI Mortgage’s majority owner.

global-atlantic-logoeRESI Mortgage will continue to operate under a newly formed entity, eRESI Capital, being led by Gregory Tsang, Chief Executive Officer and Tim Wang, President.

It’s is a capital provider in the Non-Agency residential whole loan market and provides a range of products and liquidity solutions to its mortgage banking partners.

eRESI is rapidly expanding its capabilities and capturing market shares in the Non-QM mortgage sector.

The new strategic transaction will enable eRESI to further offer and scale a wide spectrum of credit products and services to financial institutions.

RMS

Tsang commented: “We are excited to have Global Atlantic as a long-term partner, who shares the same vision and goals.

“This strategic transaction will accelerate our growth and broaden our capabilities of providing capital to the residential mortgage market, which ultimately will benefit individual homeowners.

“Our unique platform of deep capital markets expertise, credit underwriting, and efficient technology combined with our new partnership will significantly help our clients’ bottom line.”

Anup Agarwal, Chief Investment Officer of Global Atlantic, added: “We are pleased to join forces with eRESI. The Non-Agency loan business is an important part of Global Atlantic’s portfolio. We have been very impressed with the eRESI team and look forward to growing together.”

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