BETHESDA, Md., Dec. 4, 2013 /PRNewswire/ -- American
Capital Mortgage Investment Corp. (Nasdaq: MTGE) ("MTGE" or the
"Company") announced today that, through a subsidiary, it has
acquired Residential Credit Solutions, Inc. ("RCS"), a licensed
mortgage servicer based in Fort Worth,
Texas.
"The acquisition of RCS, a highly-regarded mortgage servicer,
marks a significant milestone for MTGE as it positions itself to
meet the demands of the evolving mortgage market," said
Gary Kain, President and Chief
Investment Officer, American Capital Mortgage Investment Corp., and
an RCS Director. "RCS provides MTGE with flexibility and
expands and diversifies MTGE's investment capabilities by
facilitating investments in mortgage servicing rights and whole
loan portfolios. We are excited for this new phase for
MTGE and look forward to partnering with the RCS team and its
employees to source, acquire and manage such assets."
"We believe that MTGE's investment capabilities and capital base
form a strong complement to our servicing operations and will
provide new and attractive growth opportunities for RCS," said
Dennis Stowe, Chief Executive
Officer of RCS. "We eagerly anticipate working with the MTGE
team and executing upon our growth strategy."
John Erickson, Executive Vice
President and Chief Financial Officer, American Capital Mortgage
Investment Corp., and an RCS Director, stated "We're delighted to
join together MTGE and RCS in this mutually beneficial strategic
initiative. As private capital plays an increasing role in
the mortgage market, we believe that there will be many attractive
opportunities and that these broader capabilities will provide us
with the competitive advantage necessary to realize value for our
shareholders."
Formed in 2006, RCS has an experienced management team and a
fully-developed, scalable infrastructure. RCS has obtained
approvals from the Federal National Mortgage Association (Fannie
Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and
the Government National Mortgage Association (Ginnie Mae) and the requisite state licenses to
hold and manage mortgage servicing rights (MSRs).
ABOUT RESIDENTIAL CREDIT SOLUTIONS, INC.
Residential
Credit Solutions Inc. is an integrated residential mortgage
investment and servicing company based in Fort Worth, Texas. RCS is a fully
licensed, agency-rated and approved servicer. RCS' special
servicing infrastructure has a proven effectiveness in resolving
sub and non performing mortgages with significant available
capacity and scale to effectively manage mortgages at all stages of
performance. For more information about RCS, please refer to
www.ResidentialCredit.com.
ABOUT AMERICAN CAPITAL MORTGAGE INVESTMENT
CORP.
American Capital Mortgage Investment Corp. is a real
estate investment trust that invests in and manages a leveraged
portfolio of agency mortgage investments, non-agency mortgage
investments and other mortgage-related investments. The
Company is externally managed and advised by American Capital MTGE
Management, LLC, an affiliate of American Capital, Ltd. ("American
Capital"). For further information, please refer to
www.MTGE.com.
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq:
ACAS) is a publicly traded private equity firm and global asset
manager. American Capital, both directly and through its
asset management business, originates, underwrites and manages
investments in middle market private equity, leveraged finance,
real estate, energy & infrastructure and structured
products. American Capital manages $20
billion of assets, including assets on its balance sheet and
fee earning assets under management by affiliated managers, with
$117 billion of total assets under
management (including levered assets). Through an affiliate,
American Capital manages publicly traded American Capital Agency
Corp. (Nasdaq: AGNC) with approximately $10
billion of net book value and American Capital Mortgage
Investment Corp. (Nasdaq: MTGE) with approximately $1 billion of net book value. From its eight
offices in the U.S. and Europe,
American Capital and its affiliate, European Capital, will consider
investment opportunities from $10 million to
$750 million. For further information, please refer to
www.AmericanCapital.com.
CONTACT:
Investor Relations -- (301) 968-9220
SOURCE American Capital Mortgage Investment Corp.