Metrocities focused on joint ventures with brokers

Influx of investment capital fuels expansion plan

With its founder and a private equity firm sharing ownership of its new parent company, Metrocities Mortgage LLC is putting its dalliances with subprime lending behind and returning to the company’s roots — forming joint ventures with real estate firms.

Metrocities recently announced the completion of a deal with Sterling Partners, in which the California-based lender will become part of Sterling’s newly formed Prospect Mortgage Co.