AIG Debuts Mortgage Unit

Posted by Orb Staff on March 06, 2013 No Comments
Categories : Residential Mortgage

13426_aig AIG Debuts Mortgage Unit American International Group (AIG) has launched a new business unit called Connective Mortgage Advisory Co. that will identify and buy residential whole loan mortgages as investments.

AIG says that Connective will focus on identifying residential first mortgage loans to be purchased as long-term investments for the company. AIG will manage the loan-servicing component of the loans that are purchased.

‘Direct investment in residential mortgage loans offers attractive investment returns and enables a proactive approach to managing mortgage risk,’ says William Dooley, AIG's executive vice president of investments and financial services.

Connective will also establish correspondent relationships with lenders, underwrite loans and provide support throughout the loan purchase process. AIG says that all purchases ‘will be subject to rigorous underwriting and risk management standards.’ There are no plans for Connective to conduct any direct lending or securitization.

Register here to receive our Latest Headlines email newsletter




Leave a Comment