Diversified Mortgage Workout Acquires Minority Position In Hedge Fund

Posted by Orb Staff on November 12, 2008 No Comments
Categories : Residential Mortgage

Diversified Mortgage Workout Corp. has agreed to acquire a minority stake in a offshore hedge fund specializing in distressed mortgages, discounted/distressed mortgage bonds and distressed real estate properties.

Diversified has agreed to acquire a minority stake (23%) in the fund with an option to increase its position by another stake of 26% within a 12-month period. Diversified says this action will serve as a great entrance strategy for what will soon be a highly lucrative opportunity as banks, mortgage companies and investment banks begin unloading nonperforming real estate-related assets.

Source: Diversified Mortgage Workout Corp.

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