Longtime mortgage industry executive Frank Pallotta has set up an exploratory committee to consider a run for New Jersey’s 39th Legislative District Assembly seat.
Pallotta is considering a potential challenge to incumbent Assemblyman Robert Auth for the Republican nomination in 2025. Pallotta, the founder and owner of the mortgage advisory and consumer marketing firm Steel Curtain Capital Group, previously ran for New Jersey’s 5th Congressional District in 2020 and 2022.
Pallotta pointed to Auth’s unexpectedly narrow margin of victory in last year’s election as evidence of the incumbent’s evaporating level of voter support.
“Last year’s Assembly race, one of the closest in nearly two decades, clearly demonstrates the need for new leadership in District 39. We cannot afford to lose this seat as we did with CD5,” he said, referencing the 2016 Democratic upset in a long-held Republican Congressional district. “No voice is louder than that of the voters, and right now, I appear to be the only one listening.”
Prior to creating Steel Curtain Capital Group in 2008, Pallotta was the co-founder of Loan Value Group LLC. Earlier in his career, he was a managing director and co-head of US residential business at Morgan Stanley, a director at Credit Suisse and a vice president at Goldman Sachs.
;
