is planning to launch a fund that will invest in distressed mortgage-backed securities, Bloomberg
reported. This comes as the real estate market is facing a slew of challenges such as delinquent payments, declining home prices and rising borrowing costs.
"There are profits to be made by being capitalized and ready to get into the market when others are getting out," said Jeffrey Gundlach, chief investment officer of TCW Group.
The company plans to roll out the fund within the first quarter of 2007.
Stay ahead of the news ... Sign up for our email alerts now