“This effort has been in the works for the past three years and we’re proud that it has finally come to fruition,” said Matthew Ostrander, president and chairman of the board of Parkside Mortgage Trust. “We’re excited to be entering into the next phase of this enterprise and starting to invest in mortgages,” he added.
Organized to operate as a Real Estate Investment Trust (REIT), the non-agency loan will be serviced by its affiliate, Parkside Lending, a national wholesale and correspondent lender and servicer.
Parkside Mortgage Trust was formed by a management team led by Ostrander who also serves as chief executive officer of Parkside Lending, which was recently admitted as a member of the Federal Home Loan Bank of Cincinnati, Ohio, through its insurance subsidiary PSL Insurance Company, LLC.
In addition, Ostrander is a director with the California Mortgage Bankers Association Board, where he serves as the President of Residential Real Estate, and is a member of the Freddie Mac Advisory Board.
Parkside Mortgage Trust operates as a REIT, investing in residential mortgage loans and other mortgage-related assets, including Non-QM
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Parkside Mortgage Trust, Inc. recently announced that it has commenced operations with the purchase of its first mortgage loan.