Galton Capital Management, the residential mortgage credit investment unit for Mariner Investment Group, appointed Tim Lynch as head of servicing oversight.
Lynch will augment the firm's expertise in mortgage investing ahead of the launch of a new investment product offering. He will oversee and manage all mortgage servicing activities related to this new product including servicer evaluation, selection and monitoring across all of that investment team's activities.
The firm is planning a new investment product focusing mainly on acquiring pools of seasoned whole loans, as well as investing in legacy non-agency RMBS, single name RMBS CDS, and mortgage credit indices. It will be the team's third longer-duration investment product offering.
Lynch joins the Galton investment team with 25 years of mortgage industry experience, with a particular expertise in mortgage servicing. He held various senior servicing management roles at two of the largest U.S. servicers — Chase Manhattan Mortgage and Washington Mutual.
Most recently, he worked for Chase Home Finance as a default risk portfolio manager and later as head of liquidation strategy in Chase's default strategy department.
Lynch rejoins several colleagues from Chase Manhattan Mortgage, including Matt Whalen, a portfolio manager and co-head of the Galton investment team. The hiring brings servicing expertise to the firm's mortgage credit trading team whose experience includes origination, servicing, structuring, legal review, trading and hedging of both RMBS and residential whole loans.
"[Lynch's] hiring is a natural extension of our team's mortgage securities focus and augments our expertise in trading residential mortgages," Whalen said. "His experience, particularly his long career at Chase Manhattan Mortgage, provides us with a thorough understanding of servicing operations and the rapidly shifting regulatory environment that will help our valuation, risk assessment and management of whole loans and residential mortgage-backed securities, on both the long and short side."
The Galton investment team joined Mariner in December 2007 and is led by Kevin J. Finnerty, Whalen and Paul Park. As of June 1, 2011, the team advised more than $1.3 billion in committed capital on behalf of Mariner employing long- and short-term duration investment strategies primarily with the objective of investing in residential mortgage opportunities. The team is currently comprised of 16 members.