AUSTIN, Tex. The subprime lender ESI Mortgage LP announced the completion of its purchase of Equity Secured Investments Inc., an Austin wholesale lender. Details of the deal, which was completed in May, were not disclosed.
ESI Mortgage is a partnership of David Kooy, a New York real estate investor and multifamily property developer, and ESI Mortgage president Lisa Kelly-Kelly Loth, a former account executive with Equity Secured Investments.
Mr. Kooy owns a majority stake in the Austin company.
ESI, an 18-employee outfit that bills itself as a boutique subprime lender, started funding loans for brokers in June. Last year, as ESI Inc., it funded more than $50 million in loans for several hundred brokers.
Completion of the deal was announced last week.
