se Global Fund Services and Ocwen Financial Corp. have developed a suite of services available to investment funds investing in U.S.-based loans, mortgages and distressed assets. Ocwen will provide integration of its mortgage servicing and valuation offerings to customers of LaCrosseMortgage+, a specialized fund administration and middle-office support package for investment funds that trade in whole loans. ‘Our goal is to take advantage of the recent burgeoning in investment vehicles for purchasing both performing and nonperforming mortgage loans," says LaCrosse co-CEO Stuary Feffer, adding that such vehicles have have administrative and operational requirements that are often different from typical hedge funds and private equity funds. Specific components of LaCrosseMortgage+ offered by LaCrosse include fund administration for the investment pool and related entities, as well as middle-office and operational support for any securitized or derivatives trading. Services offered by Ocwen as part of this partnership include valuation, due diligence, forensics and services to support pre-foreclosure, foreclosure and real-estate owned (REO) assets. "This partnership provides a set of integrated tools in the fund manager's toolbox that they can use in determining, valuing and managing the risk/reward opportunity in this segment of the market,’ says William Shepro, president of Ocwen Solutions. SOURCES: LaCrosse Global Fund Services, Ocwen Financia
