DoubleLine to Produce Mortgage-Backed Securities In-House
- Private-equity mortgage fund has raised almost $296 million
- Firm to securitize both residential and commercial mortgages
Photographer: Ron Antonelli/Bloomberg
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DoubleLine Capital is embarking on a plan to originate and securitize mortgages, seeking to fill a niche that has traditionally belonged to banks and brokerage firms.
The Los Angeles-based money manager, headed by Jeffrey Gundlach, is starting an investment adviser called Mortgage Opportunities Capital, according to regulatory filings. It will be an integral part of DoubleLine’s plan to raise capital from institutional investors to originate or buy commercial and residential real-estate loans and package at least some into securitized debt.