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RED BANK, N.J.,
Aug. 29, 2013 /PRNewswire/ --
ZAIS Financial Corp. (NYSE: ZFC) ("ZAIS Financial" or the "Company") announced today that it has acquired a residential mortgage loan portfolio with an unpaid principal balance of approximately
$98.2 million, utilizing approximately
$54.8 million of its financing facility with Citibank, N.A. to fund a portion of the purchase price. "We are pleased to have completed this purchase which places our whole loan equity allocation in the 50 to 60% range articulated at the time of our IPO, and positions our portfolio to benefit from the continued recovery in housing and consumer credit," said
Michael Szymanski, President and Chief Executive Officer of ZAIS Financial. "We continue to believe in our investment strategy, focusing on residential mortgage credit, primarily through whole loan exposure. This investment is well suited to our strategy and the current investment environment," said Mr. Szymanski.
About ZAIS Financial Corp.
ZAIS Financial Corp. is a real estate investment trust ("REIT") which invests in, finances and manages a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. The Company is externally managed and advised by ZAIS REIT Management, LLC, a subsidiary of ZAIS Group, LLC. Additional information can be found on the Company's website at
This press release contains statements that constitute "forward-looking statements," as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, availability of suitable investment opportunities; changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; general economic conditions; market conditions; conditions in the market for mortgage-related investments; legislative and regulatory changes that could adversely affect the business of the Company; and other factors, including those set forth in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and other reports filed by the Company with the Securities and Exchange Commission (the "SEC"), copies of which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
SOURCE ZAIS Financial Corp.