American Home Bank in West Chester, Pa., is looking to buy seasoned, high-quality residential mortgage loans from financial institutions.
The bank, a division of First National Bank of Chester County, has created a team based in Fort Lauderdale to pursue such deals.
The team is headed by Maylin Casanueva, who had a similar role at Redwood Financial Services. Casanueva also has been the director of transaction management and due diligence services for CoreStates Securities and Meridian Capital Markets.
Other members of the team have experience in banking, mortgage banking and capital markets.
James Deitch, a managing director at American Home, said the new business will help loan sellers "augment their capital base and increase liquidity."
The $1.4 billion-asset First National bought American Home in January.
