ORANGE, Calif., June 24, 2008 (PRIME NEWSWIRE) -- Fasthold Capital, Inc., a leading specialist in structuring the sale of residential, commercial and consumer loan portfolios, today announced it has raised more than $300 million in committed capital to acquire distressed mortgage assets as a principal investor. The company has been a principal buyer of distressed mortgage assets since 2007 and will leverage this capital, its experience and resources to continue to provide a solution for its customers for the ever increasing amounts of distressed real estate assets. Fasthold Capital's key services include mortgage loan acquisition solutions that provide capital to companies with distressed assets; advisory services for liquidation of those distressed assets; and asset servicing solutions to assists home owners through the current real estate crisis.
According to an April 2008 report by real estate information firm RealtyTrac, foreclosures increased by more than 112% in the first three months of 2008 over the same period in 2007. The report indicates: "Foreclosures increased in 46 states and in 90 of the nation's 100 largest metro areas."
"In a time where some people are using the current real estate crisis to take advantage of customers, we have been successful in building a business based on our commitment to dealing fairly and honestly with our customers and successfully completing transactions," said John Duden, managing partner at Fasthold Capital. "Our team of highly experienced and talented industry experts offers an unmatched knowledge base of loan resolution, asset management and financing to every customer, and we are dedicated to providing unmatched services and a win-win outcome for all parties involved."
With over 70 years of combined experience managing capital markets, the principals and co-founders of Fasthold Capital include Michael Castanon, John Liebgott and John Duden. Fasthold Capital's funds are comprised of capital raised from private investors, credit institutions and its own founders. The company is currently bidding on portfolios ranging from $1 million to $150 million.
About Fasthold Capital
Headquartered in Orange, California, Fasthold Capital, Inc. is a leading provider of loan sale advisory services for the residential and commercial markets. Founded in 2007, the company is dedicated to providing its customers with the most efficient, reliable and cost-effective means for liquidating their assets. With over 70 years of combined experience, Fasthold Capital has developed strong partnerships with leading mortgage companies and financial institutions. Its proven Settlement Optimization Process (SOP) guides its customers through the complex asset liquidation process and eliminates common concerns associated with marketing and liquidating distressed assets. For more information on Fasthold Capital and its services, please visit www.fastholdcapital.com.
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