Neighborhood Stabilization Capital Management and Javlin Capital have announced a partnership and the funding of a $40 million facility, which will enable NS Capital to expand on its ongoing efforts to acquire pools of distressed residential mortgages.
The injection of cash will allow NS Capital to further its push to keep homeowners in their homes and stabilize neighborhoods.
“Private, public and non-profit collaboration is essential to developing long term solutions that will ensure the growth of a healthy and vibrant mortgage industry,” said Louis Amaya, chief investment officer of NS Capital. “I am excited to partner with the Javlin team as we continue to create solutions and investor returns.”
Rob Johnson, Javlin’s CEO, said he was “thrilled” to partner with NS Capital. “Beyond offering impressive market expertise and a strong track record, NS Capital’s social mission is something we’re happy to support,” Johnson said.
"Keeping homeowners in their homes and effecting neighborhood stabilization outcomes are often best achieved by non-profit organizations,” said Sharon Pratt, former mayor of Washington, D.C., and founder of The Home Preservation Exchange, a Washington-based non-profit that holds majority ownership in the for-profit NS Capital.
“While raising private capital, ensuring investors adequate returns are better suited by for-profit firms,” Pratt added. “In that the two objectives are not mutually exclusive, NS Capital marries the strengths of for-profit and non-profit to the advantage of investors and homeowners.”