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Kondaur Open to Idea of Buying a Bank

Published September 30, 2009 8:28 AM EDT Updated September 30, 2009 8:30 AM EDT 1 Min Read

Distressed mortgage investor Kondaur Capital, Santa Ana, Calif., is open to the idea of buying a bank, according to a company spokesman.

Earlier in the year Kondaur seriously considered such a move because it would allow the firm to “competitively acquire performing loans with low-cost bank capital,” said the spokesman. He said Kondaur is still “exploring the possibilities” but has nothing more specific to report.

Launched a few years ago Kondaur is managed by Jon Daurio, its CEO, and John Kontoulis who serves as president. During his career Daurio has worked for Encore Credit, The Prieston Group, and other firms.

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