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Subprime Loan Buyer Gets Dubai-led Investment
Aug 15, 2008In the increasingly crowded field of investors looking to buy sub and non-performing mortgage notes, one small shop has added foreign dollars to the mix: White Plains, New York-based Diversified Mortgage Workout Corporation said Friday it had received investment commitments of $20 million from a private investment group based in Dubai. The company said in a press statement that it would look to purchase subprime whole loans with the funds. “We are very excited about this investment, as it is only the beginning,” said Victoria Forlenza, president and COO at the company.
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