FORT LAUDERDALE, Fla., Dec. 11, 2012 (GLOBE NEWSWIRE) -- BBX Capital (NYSE:BBX), formerly BankAtlantic Bancorp, announced that it has entered into an agreement with Bayview Loan Servicing, LLC ("Bayview"). Bayview will provide customary mortgage loan servicing services with respect to certain commercial, residential and consumer loans and related REO owned by a subsidiary of BBX Capital.
"We are pleased to be partnering with Bayview as we continue to build our investment portfolio," said Seth Wise, president of BBX Capital Asset Management. "The expertise of Bayview's executive team gives us the ability to maximize the value of our assets over the long term and focus on our core business."
BBX Capital has transitioned from a bank holding company into a diversified investment and asset management company. The business of BBX Capital includes real estate ownership, direct acquisition and joint venture equity in real estate, specialty finance, and the acquisition of controlling and non- controlling investments in operating businesses. As of September 30, 2012, BBX Capital had total consolidated assets of approximately $488.4 million.
About BBX Capital Corporation: BBX Capital Corporation (NYSE:BBX), is a diversified investment and asset management company. The business of BBX Capital includes real estate ownership, direct acquisition and joint venture equity in real estate, specialty finance, and the acquisition of controlling and non-controlling investments in operating businesses. For more information, visit www.BBXCapital.com.
About Bayview: Based in Coral Gables, Florida, Bayview Loan Servicing is a top-rated (Fitch, S&P) loan servicer, servicing commercial and residential loans with more than 800+ U.S.-based employees. Bayview's parent company, Bayview Asset Management, LLC is a SEC registered Investment Advisor, and its affiliated entities have more than 15 years of experience in purchasing, servicing, and managing credit-sensitive residential and commercial mortgage loans. For more information, visit www.BayviewAssetManagement.com.
Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that involve risks and uncertainties. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of BBX Capital Corporation and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond their control. The Company cautions the foregoing risks and factors are not exclusive.
CONTACT: BBX Capital Contact Info: Leo Hinkley, SVP, Investor Relations Officer Telephone: 954- 940-5300 Email: InvestorRelations@BBXCapital.com Media contact: Caren Berg, Boardroom Communications, firstname.lastname@example.org, (954) 370-8999Source:BBX Capital Corporation