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Prudential Mortgage Capital Company hires Curtis Brunton to originate loans in the western region

^{Published on 2011-08-23 15:41:10 - Market Wire}
 

SAN FRANCISCO--([ BUSINESS WIRE ])--Prudential Mortgage Capital Company today announced that Curtis Brunton has joined the firma™s San Francisco office as a principal in the Western region. Prudential Mortgage Capital Company is the Newark, N.J.-based commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).

"We have been searching for originators with extensive experience and a proven track record since we announced the formation of our joint venture last month. Curtis has both and will be an excellent addition to the team. We are pleased to have him back"

Brunton will originate commercial mortgage-backed securities loans on behalf of the companya™s recently announced joint venture with affiliated funds of Perella Weinberg Partners' Asset Based Value strategy, Liberty Island Group, which is focused on providing conduit loans to borrowers.

Brunton, who spent nine years as a principal with Prudential Mortgage Capital Company between1999 and 2008, rejoined the company from Redwood Trust where he was a managing director. Brunton, who earned a bachelora™s degree from the University of Arizona, will report directly to Marcia Diaz, a managing director in the Los Angeles office.

aWe have been searching for originators with extensive experience and a proven track record since we announced the formation of our joint venture last month. Curtis has both and will be an excellent addition to the team. We are pleased to have him back,a Diaz said.

On July 8, Prudential Mortgage Capital Company and certain affiliated funds of Perella Weinberg Partnersa™ Asset Based Value strategy announced the formation of Liberty Island Group to originate commercial mortgages for future securitization. Loans will be originated through Prudential Mortgage Capital Companya™s origination platform, then warehoused and securitized by the joint venture

The new venture enables Prudential Mortgage Capital Company to provide its borrowers with access to the commercial mortgage backed securities market without creating a new CMBS warehouse, following the divestiture of Prudentiala™s commercial mortgage securitization business in 2008.

Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business with $68 billion in assets under management and administration as of June 30, 2011. Leveraging a 135-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Prudentiala™s general account and proprietary balance sheet program; and other institutional investors. The company maintains a loan servicing portfolio of approximately $66.3 billion, as of June 30, 2011. For more information, please visit [ http://www.prumortgagecapital.com ].

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $883 billion of assets under management as of June 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudentiala™s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudentiala™s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit [ http://www.news.prudential.com/ ]