Liberty Capital Asset Management has entered into a partnership with Three Arch Investment Corporation 1 of California to pursue funding for PIFF recovery programs.
It has reported that the agreement is viewed by both parties as a strategic venture with Three Arch Investment Corp 1 providing the capital and fund management expertise and Liberty providing the operational expertise to liquidate the pools.
David Michelson, investment advisor of Three Arch Investment Corporation 1, said: “Three Arch Investment Corporation 1 has selected Liberty Capital as one of its mortgage basket B investment managers, for its acquisitions from the liquidation of mortgages acquired through the Legacy Loan Program. Liberty Capital will play an important part in getting the occupied but non-performing loans to meet the conditions of the newly enacted making homes affordable program.
“Three Arch Investment Corp 1 is a Delaware Corporation formed to participate in the recovery of America’s housing. Three Arch Investment Corp 1 has made an application with the legacy mortgage loan program, and looks forward to working with Liberty Capital in meeting its business objectives,” he added.
Las Vegas, Nevada-based Liberty Capital Asset Management acquires pools of non-performing mortgage loans and then re-performs those loans by restructuring the financial parameters such that the defaulted borrower can return to make payments on time again and avoid foreclosure.
