ARLINGTON, Va.--(BUSINESS WIRE)--EJF Capital LLC (“EJF”), a global alternative asset management firm, and AmWest Asset Management LLC, an affiliate of The AmWest Group (“AmWest”), today announced a strategic joint venture partnership to manage investments in non-qualified mortgage (“non-QM”) loans as well as other non-agency mortgage loans acquired from select bank and non-bank originators. As part of the agreement, AmWest Asset Management LLC will have a minority role in the partnership.
EJF’s Co-Founder and Co-Chief Executive Officer Neal Wilson said, “We are excited to partner with AmWest to take advantage of the attractive investment environment in the non-qualified residential mortgage space, which has begun to experience meaningful growth. AmWest’s deep mortgage banking and non-agency mortgage expertise, coupled with EJF's asset management and capital markets acumen, creates a powerful combination.”
Kevin Stein, Head of Mortgage at EJF, added, “AmWest is a leading non-QM originator and industry specialist that we have long admired. We look forward to working with their experienced team to grow the non-agency business at EJF.”
AmWest’s Chairman, William Park, said, “We are happy to announce our entry into the asset management business and delighted to partner with EJF and its team.”
Kenny Jo, Chief Executive Officer of AmWest, said “With this partnership, we can continue to be a leading and innovative mortgage lender.”
For more information, please contact EJF Investor Relations at InvestorRelations@ejfcap.com.
About EJF Capital
EJF Capital LLC is an SEC-registered, employee-owned alternative asset management firm headquartered in the greater Washington, D.C. metropolitan area. EJF manages approximately $7.5 billion across a diverse group of alternative asset strategies. The firm was founded in 2005 by Manny Friedman and Neal Wilson. Since inception, EJF has focused on regulatory event-driven investment themes including its newly formed strategy to invest in non-qualified mortgages.
For more information on EJF Capital LLC, visit www.ejfcap.com.
About The AmWest Group
The AmWest Group, based in Brea, California, was originally founded in 1995. The organization is driven by a management team possessing an average of two decades of experience. Focused on providing home loans responsibly throughout the communities we serve, AmWest’s goal is to provide exceptional customer experience for its clients. AmWest helps clients achieve the dream of home ownership or seize today’s real estate investment opportunities.
For more information on AmWest Funding Corp., visit www.amwestfunding.com.