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Career moves

Kondaur’s CFO Out Too as Firm Looks to Sell Loans

Published 2 Min Read

The chief financial officer of nonperforming loan (NPL) investor Kondaur Capital departed the company about 10 days ago – at the same time that the NPL investor’s founder and chairman Jon Daurio was forced out by the firm’s board, National Mortgage News has learned.According to NPL investors and a source at Kondaur, CFO Janice Ramocinski resigned from the privately held firm, whose investors and backers include The Carlyle Group, and Tourmalet Advisors.

During her long career in mortgage banking, she has worked for such lenders as North American Savings in Santa Ana, Westwood Savings and Loan, and Touche Ross & Co.

At press time Ramocinski could not be reached for comment. A spokesman for Kondaur confirmed that she was no longer at the company but could not comment further.

To date, no reason has been given for Daurio’s departure.

The Orange, Calif.-based Kondaur manages about 3,000 non- and subperforming loans, notes it bought in the secondary market.  Sources say the company is now trying to sell off some of its holdings to other NPL investors.

Earlier this year it laid off about 40% of its staff. Kondaur is believed to be one of the largest U.S. investors in NPLs.

Several weeks back it bid on a pool of roughly 1,000 distressed loans from the Federal Housing Administration, but it’s unclear whether that purchase ever closed.

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