September 12, 2013 at 12:53 PM EDT
New Mortgage Servicing Joint Venture to Acquire AMS Servicing

Seneca Mortgage Investments LP, a newly formed joint venture of Arbor Commercial Mortgage, LLC; affiliates of GSO Capital Partners LP; and EJF Capital, LLC, is set to acquire AMS Servicing LLC, a national specialty servicer for residential and small balance commercial mortgages. 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 will invest in residential mortgage servicing rights (MSRs), targeting opportunities arising from the comprehensive changes across the residential mortgage business. As a well-capitalized, non-bank, non-originator with an experienced servicing platform, Seneca Mortgage Investments aims to better serve 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, NY.

About Seneca Mortgage Investments LP and Seneca Mortgage Management, LLC

Founded by three highly experienced partners with deep roots in the mortgage investment industry, Seneca Mortgage Investments is a real estate investment company dedicated to providing best-in-class results for its investors and their borrowers. Headquartered in New York City, Seneca Mortgage Investments, its subsidiaries and its external manager, Seneca Mortgage Management, are built to offer customized and innovative solutions across the residential mortgage marketplace. Each company is led by a talented management team with the sophisticated expertise and experience to forge strategic partnerships and deliver for its clients, providing customized and innovative solutions to support the marketplace.

Seneca Mortgage Management partners with financial institutions and mortgage originators of all sizes to provide them with MSR regulatory capital relief and flexible servicing agreements that enhance their financial positioning. Seneca Mortgage Management is the external manager of the subsidiaries of Seneca Mortgage Investments LP, driving the vision and ensuring the quality of the company’s operations and resources to support individual client portfolios. For more information, please visit www.ams-servicing.com/SenecaMortgage.

About Arbor Commercial Mortgage, LLC and AMS Servicing, LLC

Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in loan origination and servicing for multifamily and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender, a HUD-Approved LIHTC Lender as well as a CMBS, Bridge and Mezzanine lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $10.4 billion, Arbor is a primary commercial loan servicer and special servicer rated by Fitch Ratings and Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List.

AMS Servicing, currently 100 percent owned by Arbor Commercial Mortgage, LLC, is a specialty servicer headquartered in the Buffalo suburb of Depew, NY and offers a broad range of customized services and solutions to its clients, which include some of the nation’s leading banks and investment funds. AMS Servicing’s highly experienced senior management team has a proven track record in optimizing the performance of high-risk real estate secured loan portfolios. In addition, AMS is a provider of superior component default servicing.

About GSO Capital Partners LP

GSO Capital Partners LP is a leading global credit platform. Together with its affiliates, GSO has approximately $62 billion of assets currently under management as of June 30, 2013, and is one of the largest credit-focused alternative managers in the world and a major participant in the leveraged finance marketplace. GSO seeks to generate superior risk-adjusted returns in its credit business by investing in a broad array of strategies, including mezzanine, distressed investing leveraged loans and other special situation strategies.

About EJF Capital, LLC

EJF Capital LLC is an independent, employee-owned, SEC-registered investment adviser that manages a diverse group of alternative investment strategies for qualified individuals, institutions, foundations and endowments. EJF was founded in September 2005 and leverages the asset management and capital markets experience of Emanuel J. Friedman, co-founder and former Co-Chairman and Co-CEO of Friedman, Billings, Ramsey Group, Inc. (“FBR,” currently known as Arlington Asset Investment Corp, NYSE:AI). Mr. Friedman has more than 35 years’ experience in the U.S. securities industry, including more than 16 years as a hedge fund and private equity portfolio manager. EJF was co-founded by Neal J. Wilson, former Senior Managing Director for the Alternative Asset Investment and Private Wealth Management groups at FBR.

Contacts:

For Seneca Mortgage
Erica Mileo, (516) 506-4610
emileo@arbor.com
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