While many wholesale mortgage lenders serving the
subprime market have experienced fairly solid gains over the past year
(Q2, 2004 - Q2, 2005), ResMAE Mortgage Corporation's growth has been
especially noteworthy. Recent surveys of subprime wholesale lenders by
Inside B&C Lending and Origination News have ranked ResMAE's annual
growth, through the second quarter of this year, at 294% and 238%,
respectively. This high growth rate has catapulted the three-year-old
company into the top tier of national subprime lenders.
"We are very pleased with these new figures as it affirms that our business plan, indeed our whole approach to the wholesale mortgage industry, has been a solid one," said Ed Resendez, President and Co-Chief Executive Officer. "ResMAE was started with the idea of providing value to our customers and stakeholders through customer service, cost efficiency, and advanced technology. Our success to date certainly validates that approach."
While economists debate the future of the housing market and mortgage rates begin to show signs of increasing, ResMAE has adhered to a strategy that provides competitive loan products to brokers and solid, attractive offerings to secondary market investors. The company recently secured a $100 million investment by TPG-Axon to launch the development of its loan portfolio. In addition, ResMAE will be relocating its national headquarters to a new, 130,000-square-foot facility in Brea, Calif., beginning in January, 2006.
About ResMAE
ResMAE is a wholesale specialty residential mortgage lender and servicer headquartered in Brea, Calif. The company, founded by Jack Mayesh, Ed Resendez, and Bill Komperda - the former executive management team at Long Beach Financial Corporation - originates wholesale loans through a network of independent mortgage brokers and sells loans in the secondary market. Its financial partner is TH Lee Putnam Ventures, a technology-focused private equity firm affiliated with Thomas H. Lee Partners and Putnam Investments. ResMAE is licensed or qualified to conduct business in more than 44 states and continues to expand nationwide. Its web site is located at www.resmae.com.
About TPG-Axon
TPG-Axon Capital Management, LP (TAC) is a leading investment firm with investments across global markets. TAC was founded in early 2005 with approximately $3 billion under management and has offices in Hong Kong and New York.
"We are very pleased with these new figures as it affirms that our business plan, indeed our whole approach to the wholesale mortgage industry, has been a solid one," said Ed Resendez, President and Co-Chief Executive Officer. "ResMAE was started with the idea of providing value to our customers and stakeholders through customer service, cost efficiency, and advanced technology. Our success to date certainly validates that approach."
While economists debate the future of the housing market and mortgage rates begin to show signs of increasing, ResMAE has adhered to a strategy that provides competitive loan products to brokers and solid, attractive offerings to secondary market investors. The company recently secured a $100 million investment by TPG-Axon to launch the development of its loan portfolio. In addition, ResMAE will be relocating its national headquarters to a new, 130,000-square-foot facility in Brea, Calif., beginning in January, 2006.
About ResMAE
ResMAE is a wholesale specialty residential mortgage lender and servicer headquartered in Brea, Calif. The company, founded by Jack Mayesh, Ed Resendez, and Bill Komperda - the former executive management team at Long Beach Financial Corporation - originates wholesale loans through a network of independent mortgage brokers and sells loans in the secondary market. Its financial partner is TH Lee Putnam Ventures, a technology-focused private equity firm affiliated with Thomas H. Lee Partners and Putnam Investments. ResMAE is licensed or qualified to conduct business in more than 44 states and continues to expand nationwide. Its web site is located at www.resmae.com.
About TPG-Axon
TPG-Axon Capital Management, LP (TAC) is a leading investment firm with investments across global markets. TAC was founded in early 2005 with approximately $3 billion under management and has offices in Hong Kong and New York.