EJF Capital (EJF), a global alternative asset management firm, and AmWest Asset Management, an affiliate of The AmWest Group (AmWest), have formed 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 says: “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, adds: “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, says: “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, says: “With this partnership, we can continue to be a leading and innovative mortgage lender.”
