eRESI Mortgage LLC, a mortgage funding platform that offers comprehensive private capital solutions to the residential mortgage market, has announced that subsidiaries of The Global Atlantic Financial Group LLC, a life and annuity insurance company, have made a strategic investment and capital commitment to become its majority owner. eRESI Mortgage will continue to operate under a newly formed entity, eRESI Capital LLC, being led by Gregory Tsang as CEO and Tim Wang as president.
Founded in 2019, eRESI is a leading capital provider in the non-agency residential whole loan market. The company provides a range of customized products and liquidity solutions to its national network of mortgage banking partners. eRESI is rapidly expanding its capabilities and capturing market shares in the Non-QM mortgage sector. The new strategic transaction will enable eRESI to further offer and scale a wide spectrum of credit products and services to financial institutions.
“We are excited to have Global Atlantic as a long-term partner, who shares the same vision and goals,” says Gregory Tsang, CEO of eRESI. “This strategic transaction will accelerate our growth and broaden our capabilities of providing capital to the residential mortgage market, which ultimately will benefit individual homeowners. Our unique platform of deep capital markets expertise, credit underwriting, and efficient technology combined with our new partnership will significantly help our clients’ bottom line.”
“We are pleased to join forces with eRESI,” adds Anup Agarwal, chief investment officer of Global Atlantic. “The non-agency loan business is an important part of Global Atlantic’s portfolio. We have been very impressed with the eRESI team and look forward to growing together.”