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Photo ,Laird minor; Steven cohen
A fledgling company that opened its doors last December, Nautilus Capital LLC, a broker of distressed residential mortgage loans into the secondary market, already has plans to expand.
"By the end of the year, we hope to have our financing lines, put in our own capital and have warehouse capabilities, so that we could buy distressed loans in our own name. This will be more efficient when we turn around and sell those to other investors," said Steven P. Cohen, a managing director.
Laird Minor, also a managing director with the company, added, "We would also like to be able to aggregate to a large enough extent to be a significant participant in a securitization pool, though that is further down the road. Maybe a few years yet. But eventually, we would like to be able to retain a piece of the loans that we buy."
The company, for now, remains in the midst of growth in its current niche. "Since Nautilus began operations,...