Rosegate Mortgage and Rice Park Capital Management Enter into Strategic Partnership

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Oct 28, 2024, 08:00 ET

CHARLOTTE, N.C., Oct. 28, 2024 /PRNewswire/ -- Rosegate Mortgage, LLC ("Rosegate"), NMLS 2020757, a mortgage lender based in Charlotte, NC, announces it has entered into a partnership with Rice Park Capital Management LP ("Rice Park"), a Minneapolis-based, private investment firm.

In this partnership, Rosegate will be launching a direct-to-consumer origination platform, which will provide home financing opportunities for portions of the approximately $52 billion⁽¹⁾ portfolio of mortgage servicing rights ("MSR") held by Rice Park's subsidiary, Nexus Nova LLC.

"We are excited to work with Rice Park and eager to grow alongside our new partner by providing home financing solutions and a wonderful experience for both pre-existing and new customers of Nexus Nova," said Bryce Bradley, Rosegate's President and CEO.

Craig Freel, Rice Park's President and Co-CIO said, "We're looking forward to cultivating this relationship as it gives Rice Park the ability to provide certain Nexus Nova customers with a range of options for new loans."

About Rosegate Mortgage:
Founded in 2020, Rosegate specializes in home financing solutions and serves customers with a white glove experience through its tech-forward approach and easy process, backed by a centralized team of mortgage loan professionals.

Learn more about Rosegate at www.rosegate.com.

About Rice Park Capital Management LP
Rice Park is a private investment firm managing capital of institutional investors, family offices and high net worth individuals. Its investment focus is to deliver cycle-resistant returns by unlocking value in complex opportunities in the residential and commercial mortgage and real estate sectors.

Learn more about Rice Park at www.riceparkcapital.com.

No Offer or Solicitation. This press release is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities.

Registered Investment Advisor. Rice Park is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Forward-Looking Statements. This press release contains forward-looking statements. These forward-looking statements include statements about the plans, strategies, and prospects of Rice Park. These statements are based on our current expectations and projections about future events. The words "may," "will," "feel," "should," "expect," "scheduled," "plan," "seek," "intend," "anticipate," "believe," "estimate," "aim," "potential" or "continue" or the negative of those terms or other similar expressions are intended to identify forward-looking statements and information. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. These forward-looking statements are based on assumptions and estimates by the management of Rice Park that, although believed to be reasonable, are inherently uncertain and subject to risks and uncertainties that could cause actual results to differ from historical results or those anticipated or predicted by such forward-looking statements. In light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not, in fact, occur. Rice Park undertakes no obligation to update or revise any forward-looking statement after the date of this press release as a result of new information, future events, or otherwise, except as required by law. Rice Park qualifies all of our forward-looking statements by these cautionary statements.

Rosegate Mortgage LLC, NMLS #2020757

^(1): Portfolio size as of September 30, 2024.

SOURCE Rice Park Capital Management