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New Joint Venture to Acquire AMS Servicing

""Seneca Mortgage Investments LP"":http://www.ams-servicing.com/SenecaMortgage/, is set to acquire AMS Servicing LLC, according to an announcement released Thursday.

Seneca Mortgage Investments, headquartered in New York City, is a newly formed joint venture of ""Arbor Commercial Mortgage, LLC"":http://www.arbor.com/, as well as affiliates of the global credit platform ""GSO Capital Partners LP"":http://www.blackstone.com/businesses/aam, which is owned by the Blackstone Group, and alternative asset manager ""EJF Capital, LLC"":http://www.ejfcap.com/.


""AMS Servicing"":http://www.ams-servicing.com/, currently 100 percent owned by Arbor Commercial Mortgage, is a national specialty servicer headquartered in the Buffalo suburb of Depew, New York, whose clients include some of the nation's largest banks and investment funds. AMS Servicing assists clients with residential and small balance commercial mortgages. The company specializes in high-risk, real-estate-secured loan portfolios and component default servicing.

Pending regulatory approval, Arbor Commercial Mortgage will sell AMS Servicing to Seneca Mortgage Investments. The transaction is expected to close within the next several months.

Seneca Mortgage Investments says its strategy is to invest in residential mortgage servicing rights (MSRs), targeting opportunities arising from the changes taking place across the residential mortgage landscape. As a non-bank, non-originator, Seneca Mortgage Investments intends to provide the residential mortgage marketplace with customized mortgage servicing solutions.

Seneca Mortgage Investments and its subsidiaries will be externally managed by Seneca Mortgage Management, LLC, with offices in New York City and Depew.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

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