3Point Asset Management, Irvine, Calif., has hired Ron Millar as AVP in charge of sales and trading.

Millar joins the residential specialist from Arch Bay Capital, which also is based in Irvine.

According to industry officials, Arch Bay, an investor in nonperforming loans, recently consolidated some of its staff. The privately held company has declined to discuss its situation with media.

3Point focuses on strategies for loan servicing, default management and loan disposition.

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