Mill City loans are established as a mortgage conduit for funds managed by CarVal Investors
MINNEAPOLIS, February 28, 2022 /PRNewswire/ — CarVal Investors, a global alternative investment manager, today announced that funds managed by CarVal have created Mill City Loans, a mortgage conduit focused on building lasting relationships with originator partners in the acquisition of residential mortgage assets through multiple strategies.
Mill City Loans strategically focuses on liquidity, technology, relationships and experience to provide high quality service to clients.
Mill City Loans will be led by an experienced management team comprised of mortgage lending veterans Trey Jordan, Mike Peterson and Kent Usell. Jordan comes to Mill City from New York Mortgage Trust, Inc., where he served as general counsel. Petersen is a seasoned mortgage industry executive who most recently worked at TCF Bank where he led the team responsible for capital markets, secondary marketing and mortgage portfolio management. Usell is a mortgage and investment banking industry leader, with leadership experience at several companies, including New York Mortgage Trust, Inc. and Oak Hill Advisors, LP
“We are thrilled to launch Mill City Loans in this groundbreaking new venture,” said Dave Pelka, Director at CarVal Investors. “CarVal has invested more than $24 billion in nearly 2,000 loan portfolio transactions worldwide. We have also issued over 40 securitizations since 2014 and our firm has nearly three decades of experience buying, selling and securitizing residential loans in the United States and Europe. We always seek to partner with experienced management teams who can capitalize on unique opportunities, and we are particularly excited about the addition of Mill City Loans to our portfolio. »
“We are delighted to work with CarVal Investors who are industry experts in our markets,” said Mike Peterson, a member of the management team of Mill City Loans. “Together, we bring deep industry experience and a unique new product offering to the mortgage market that we believe will experience substantial growth in the years to come.”
About Mill City Loans
Mill City Loans was founded in 2022 as a mortgage conduit for funds managed by CarVal Investors. Our mission is to build lasting relationships with our originator partners in the acquisition of residential mortgage assets through multiple strategies. www.millcityloans.com.
About CarVal Investors
CarVal Investors is an established global alternative investment manager focusing on credit-intensive assets and market inefficiencies. Since 1987, the CarVal team has navigated through ever-changing credit market cycles, investing opportunistically $133 billion in 5,610 transactions in 82 countries. Today, CarVal Investors has around $11 billion of assets under management in corporate securities, loan portfolios, structured loans and sustainable assets. www.carvalinvestors.com.
SOURCE Investors CarVal