Liberty Capital Asset Management (OTCBB: LCPM) (Liberty), a business development company which acquires pools of non-performing mortgage loans, today announced that it has entered into a partnership with Three Arch Investment Corporation 1 of Newport Beach, California to pursue funding for PIFF recovery programs. The agreement is viewed by both parties as a strategic venture with Three Arch Investment Corp 1 providing the capital and fund management expertise and Liberty providing the operational expertise to liquidate the pools.
Liberty Chairman & CEO Michael A. Barron said, “The addition of Three Arch Investment Corp as a strategic partner to Liberty is a significant step forward for us in this space. We have spent months working out the details of this venture and we are pleased with the integration of our respective organizations.”
“Three Arch Investment Corporation 1 has selected Liberty Capital as one of its mortgage basket B investment managers, for its acquisitions from the liquidation of mortgages acquired through the Legacy Loan Program,” states David Michelson, Investment Advisor of Three Arch Investment Corporation 1. “Liberty Capital will play a important part in getting the occupied but non-performing loans to meet the conditions of the newly enacted making homes affordable program. Three Arch Investment Corp 1 is a Delaware Corporation formed to participate in the recovery of America’s housing. Its sponsor and its managers have more than $7 billion of past real property development and management.
“Three Arch Investment Corp 1 has made an application with the legacy mortgage loan program, and looks forward to working with Liberty Capital in meeting its business objectives.”
A copy of the complete program proposal may be obtained via email by request at mbarron@libcapital.com. Please request the Three Arch Investment proposal.
About Liberty Capital Asset Management
Liberty Capital Asset Management (OTCBB: LCPM) LIBERTY acquires pools of non-performing mortgage loans and then re-performs those loans by restructuring the financial parameters such that the defaulted borrower can return to make payments on time again and avoid foreclosure. Liberty is based in Las Vegas, Nevada and holds over 3,200 properties in 23 states.
Statements in this press release other than statements of historical fact, including statements regarding the company’s plans, beliefs, and estimates as to projected market size are “forward-looking statements.” Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company’s SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company’s judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.
Contacts:
Liberty Capital Asset Management
Michael Barron, 702-914-4325
