PR Mortgage Investment Management, LLC was founded in August of 2019 to serve primarily as a portfolio manager specializing in real estate related assets. Asset classes include leveraged investing primarily in single-family and multi-family residential real estate related instruments including mortgage loans, mezzanine loans, mortgage backed securities, mortgage servicing rights, and other real estate related securitized assets.
Our corporate headquarters are in Mt. Laurel, New Jersey, a suburb of Philadelphia.
Merchants Bank of Indiana, a diversified banking company with multiple real estate related business channels was our founding partner. Merchants has retained interests in the company.
PR Mortgage's ("PRMIM") investment objective is to seek to generate attractive returns by investing in a portfolio consisting primarily of debt collateralized by real estate and related equity interests. PRMIM will leverage relationships obtained over the management team’s long tenure in the industry and utilize the experience, tools, and relationships available to it through its affiliation with Merchants Bank of Indiana. PRMIM's investment strategy consists of the following key tenants:
In pursuing investment objectives, management intends to acquire or originate debt instruments with a stable and predictable return with strong principal protections. Investments may be sourced through the following methods:
Our senior management team has worked together for over 20 years and has over 80 years of combined operating experience, building profitable mortgage enterprises that withstand market fluctuations and generate positive returns.
Mr. Bier has over 30 years of mortgage and finance experience. He currently serves as the CEO of ArcLine Lending, LLC a national mortgage warehouse lending business. Most recently serving as the President and CEO of Arc Home Loans where he grew this upstart business to over $14 billion in mortgage servicing and over $2 billion in originations. Prior to Arc Home Loans, Mr. Bier held the position of EVP of Capital Markets and Lending at Homeward Residential, Inc. In this position he started Homeward's mortgage lending business and managed all market risk including MSR. Mr. Bier spent several years with GMAC Residential Lending where he held multiple positions during his tenure including EVP COO of GMAC Mortgage, EVP Business Lending, and GMAC Bank Board of Directors. Most notably Mr. Bier held primary responsibility for hedging, trading, securitization, asset management, correspondent, wholesale and warehouse lending. Prior to his tenure with GMAC, Mr. Bier managed the trade desk and mortgage insurance investment portfolio at GE Capital Mortgage Services. Early in his career he worked as a public accountant with Deloitte and Touche (FKA Touche Ross and Co.) serving the mortgage industry. Mr. Bier is a former Director of MERS Corp, and has participated on Fannie Mae and Freddie Mac customer advisory boards, the US League of Builders industry roundtable, and on Mortgage Bankers Association of America committees.
Mr. Bier is a Magna Cum Laude graduate of Wagner College, Staten Island NY, with a Bachelor of Science in Accounting. He and his family reside in Southern New Jersey.
Mr. Blitzer has over 25 years of experience in the mortgage industry with a focus on capital markets. He also works at ArcLine Lending where he is the CIO and a founding partner. Recently, Mr. Blitzer assisted in the founding of Arc Home Loans where he held the position of EVP of Capital Markets. In this position, he established the Capital Markets division and was instrumental in the growth of thr MSR portfolio. His duties included the supervision of whole loan pricing and sales, purchases and valuations, and MSR and pipeline risk management. Prior to Arc Home Loans, Mr. Blitzer was the SVP of Capital Markets for Homeward Residential where he was hired to build the company's capital markets, trading, hedging, and pricing capabilities. Mr. Blitzer spent over 16 years, at GMAC Mortgage, and its affiliates ResCap and Ally Bank. At GMAC Mortgage he started as a trader in 1995 and worked through various positions reaching Managing Director of Capital Markets and Trading, a position which he held for 10 years. Under his leadership GMAC became one of the top five national issuers of ABS and MBS securities.
Mr. Blitzer graduated with a Bachelor of Science in Journalism at the University of Maryland and went on to attain his Master of Business Administration in Finance from Temple University, Fox School of Business. He resides in the Philadelphia area with his wife and two children.
Mr. Brautigam has over 25 years of financial services and mortgage related experience. He has held multiple leadership roles in finance, risk management, start up environments and international ventures. Mr. Brautigam served as CFO at Arc Home Loans where he was a founding executive. He led Arc Home in its low variable cost strategy across four business channels originating over $2 billion and a $14 billion servicing portfolio, leading to rapid growth, sustained profitability and strong returns. Mr. Brautigam is also the CFO of ArcLine Lending. Prior to Arc Home Loans, Mr. Brautigam was the Senior Vice President of Finance at Homeward Residential where he led the start-up phase of its lending business. Mr. Brautigam served over 10 years at GMAC Mortgage where he filled several roles, including Managing Director of Finance, Mergers and Acquisitions and International Business Development. He started his career serving 5 years in KPMG's National Mortgage Banking Practice and 5 years at Prudential Home Loans.
Mr. Brautigam graduated Summa Cum Laude with a Bachelor of Business Administration degree in Computer Information Systems and Management and a Minor in Economics from James Madison University. He lives in the Philadelphia area with his wife, is active in his community church and has turned from coach to fan as his four sons play collegiate soccer.
Merchants Bancorp (NASDAQ:MBIN) is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business including Federal Housing Administration (“FHA”) multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $9.4 billion in assets and $7.2 billion in deposits as of December 31, 2020, conducts its business through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Farmers-Merchants Bank of Illinois, Merchants Capital Servicing, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.