SAN DIEGO & BIRMINGHAM, Ala.--(BUSINESS WIRE)--Bexil American Mortgage Inc. today announced a strategic partnership with Big Moat REIT, a private mortgage real estate trust focused on investment in residential mortgage assets, and the appointment of Alex B. Rozek to the position of Executive Chairman of the Bexil American Board of Directors.
Bexil American owns Castle Mortgage Corporation, a full-service residential mortgage originator and servicer in 24 states.
“With financing from Big Moat, Bexil American expects to fund Castle Mortgage’s expansion into multiple origination channels, including mini-correspondent and full correspondent,” said Mr. Rozek, who has served on the company’s board since its inception in October 2011. “I’m excited to continue working with the executive management team of CEO George Hawkins, COO Anna Martinez, CFO Dave Wallace, and CIO Kamel Boulos to build the business in 2014,”stated Mr. Rozek.
“In 2013, Castle Mortgage dramatically enhanced the products and services it offers to its broker customers,” said Mr. Rozek. “This fall we introduced “The Express,” a proprietary, full-service, web portal for our wholesale brokers. Now, with our Correspondent Purchase Program, Castle Mortgage can bring the same competitive pricing and first-class service to a broader customer base.”
Castle Mortgage is adding this new, fully delegated underwriting Correspondent Program to complement its non-delegated (mini-correspondent) program and wholesale brokerage business.
About Bexil American Mortgage and Castle Mortgage Corporation
Bexil American Mortgage Inc. and its subsidiary Castle Mortgage Corporation are engaged in originating, pooling, securitizing, and servicing over $400 million in residential mortgages, with licenses in over 24 states. Castle Mortgage was founded in 1986 and is a seller and servicer with Fannie Mae, Freddie Mac, and Ginnie Mae. The executive team has over 200 years of combined experience in all phases of mortgage banking. For more information, please visit www.castlemortgage.com. Bexil American is a subsidiary of Bexil Corporation (BXLC), a holding company engaged through subsidiaries in investment management, securities trading, and mortgage banking. To learn more, please visit www.bexil.com.
About Big Moat REIT
Big Moat REIT is a private Maryland Real Estate Investment Trust formed to invest in residential mortgage assets. To learn more, please visit www.bigmoatreit.com.
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