Five Oaks Investment Corp. announced that its independent directors unanimously approved the entry into a new management agreement with Hunt Investment Management, LLC and the concurrent mutual termination of its management agreement with Oak Circle Capital Partners LLC. Also in connection with the transaction, Mr. David Carroll resigned as a director, Chairman and CEO of the Company and the Five Oaks board appointed James C. (Chris) Hunt as a director and Chairman of the board and named James P. Flynn as CEO of Five Oaks and Michael P. Larsen President of Five Oaks.

Mr. Flynn currently serves as President and CIO of Hunt's commercial real estate lending unit and Mr. Larsen serves as COO and CFO of Hunt's commercial real estate lending unit. It is expected that current Five Oaks executives, David Carroll, David Oston, and Paul Chong, will sign employment agreements with Hunt and a majority of the current employees of OCCP will become employees of Hunt. Following the transaction, the Board will continue to be comprised of a majority of independent directors.